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SaltWire's Atlantic regional weather forecast for November 9, 2023 | SaltWire - COVID-19 vaccine maker Novavax on Thursday beat Wall Street estimates for third-quarter revenue, boosted by U.S. government grants to help cover the expense of clinical trials, sending its shares up nearly 4% in premarket trade.
The company reported revenue of $187 million for the quarter, down from $734.58 million a year earlier, but above analysts' expectations of $158.5 million, according to LSEG data. The Maryland-based biotech has flagged concerns about its ability to remain in business and has been banking on cost cuts and commercial sales of its retooled COVID shot to help it stay afloat.
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