Novavax lays off 25 percent of workforce
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United States: Novavax said on Tuesday it will reduce its global workforce by 25% as the cash-strapped biotech pushes forward with its plans to slash expenses and navigate tepid demand for its COVID-19 vaccines.
The company, which had earlier flagged significant uncertainty around generating revenue for the year, said it expects total annual revenue between $1.4 billion and $1.6 billion, relying on a timely launch of its updated COVID shot.
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