Novavax Inc (NASDAQ: NVAX) announced a global restructuring and cost reduction plan, expected to reduce annual combined 2024 R&D and SG&A expenses by approximately 40% to 50% versus 2022.
The streamlining includes a workforce reduction of approximately 25%. Last month, Novavax's newly appointed CEO, John Jacobs, said the company would cut about $50 million in costs in Q1 of…