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May 12 - Iranian Parliament Speaker Qassem Ghalibaf stated: "The United States has no choice but to accept the rights of the Iranian people outlined in the 14-point plan. Any other approach will be utterly futile, resulting only in one failure after another. The longer they delay, the higher the price will be paid by American taxpayers."On May 12, following Trumps endorsement, Senator Josh Hawley introduced a bill to suspend fuel taxes. The bill proposes a 90-day suspension of the tax on gasoline (18.4 cents per gallon) and diesel (24.4 cents per gallon). The bill also allows Trump to extend the suspension for another 90 days if he deems it necessary.On May 12, the U.S. Coast Guard confirmed that a fire broke out on an oil platform off the coast of Santa Barbara County, California, on May 11, forcing the evacuation of 26 workers. Local media reported that two people were injured in the fire. In a statement, the Coast Guard said that after the fire broke out, the Coast Guard, the Santa Barbara Port Patrol, and local fire departments launched an emergency rescue operation, safely rescuing all 26 platform workers. Currently, law enforcement agencies have established a safety cordon around the platform. Footage released by the Coast Guard shows the entire platform engulfed in thick smoke, with fireboats spraying large amounts of water to extinguish the fire. The fire is still ongoing.May 12th - According to The Times, British Prime Minister Keir Starmer has been asked by Home Secretary Shabana Mahmoud and other senior cabinet ministers to consider a timetable for his departure. Mahmoud and at least two other cabinet ministers believe the Prime Minister needs to reconsider his future. Starmer will be informed by ministers at tomorrows cabinet meeting that his position is becoming increasingly "unsustainable" given strong discontent within Labour MPs. Current Health and Social Care Secretary Wes Streatine is preparing to launch a campaign to run for Prime Minister, following public calls from over 70 Labour MPs for his resignation. The UK recently held local elections, in which Starmers ruling Labour Party suffered a major defeat.U.S. Department of Energy: Nine companies have been approved to borrow crude oil from the U.S. Strategic Petroleum Reserve, including ExxonMobil (XOM.N), Marathon Petroleum (MRO.N), and Phillips 66 (PSX.N).

Novavax Reduces Its Full-year Revenue Forecast Due to Sluggish Demand

Haiden Holmes

Nov 09, 2022 15:55

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Novavax (NASDAQ:NVAX) decreased its full-year revenue guidance for the second time in three months on Tuesday as a result of a global supply glut in COVID-19 vaccine and declining demand.


The company now expects its annual revenues to fall within the lower half of its earlier forecast range of $2 billion to $2.3 billion.


Novavax reduced its revenue forecast for the year in August, since the business did not expect to sell any additional COVID-19 vaccine in the United States this year.


Filip Dubovsky, the chief medical officer of Novavax, stated on a conference call with investors that the company is "moving forward" with the development of a vaccine against Omicron sub variants BQ.1 and BQ.1.1, which would also be formulated as a bivalent vaccination with another coronavirus strain.


Dubovsky noted that Novavax intends to get the vaccine ready by the second quarter of 2019 in time for an expected surge in cases in the southern hemisphere.


Novavax stated Tuesday morning that its COVID-19 vaccine has been modified for the Omicron BA.


In advanced study, one variant generated a substantial immune response at the fourth dose, meeting the strain swift's main purpose.


The shares of the Maryland-based firm surged by nearly 1 percent in afternoon trading after the company reported third-quarter revenues that were above analyst projections.


Last week, Pfizer Inc. (NYSE:PFE) increased its annual COVID vaccination sales projection. After the government ceases buying doses and sales move to the private sector, the company intends to almost double the price of the vaccine injection in the United States in order to combat declining sales.


Even though more than 640 million COVID-19 doses have been distributed in the United States, just 43,540 Novavax vaccines have been delivered as of November 2, according to the most current government figures.


In October, the U.S. Food and Drug Administration authorized the COVID-19 vaccine as a booster for adults, in addition to its existing clearance as a primary two-shot regimen for those 12 and older.

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