Novavax on Monday again delayed its timeline for ramping up COVID-19 vaccine production and said it does not expect to seek regulatory authorization for the shot in the United States, Britain and Europe until the third quarter of 2021, sending its shares tumbling.The Maryland-based company has repeatedly pushed back production forecasts and has struggled to access raw materials and equipment needed to make its vaccine.
Novavax shares fell more than 9% in extended trading after closing nearly 9% lower on Monday.The pushback of regulatory filings “to Q3 (from Q2) and a downward revision to time to full production to Q4 (from Q3), represent delays to prior timelines and difficulty in growing,” said Kelechi Chikere, an equity analyst at.