• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Investing Novavax shares opened 20% down on Thursday: this is why
Investing

Novavax shares opened 20% down on Thursday: this is why

by December 15, 2022
by December 15, 2022 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Novavax Inc (NASDAQ: NVAX) opened about 20% down this morning after the biotech firm announced a stock and debt offering.

Novavax Inc to raise about $250 million

The Gaithersburg-headquartered company says it will sell $125 million worth of its shares in a public offering. Underwriters will have thirty days to exercise an option to purchase up to $18.75 million of additional shares as well.

On top of that, Novavax announced another $125 million sale of convertible debt due in 2027.

Proceeds from these offerings, as per the press release, will be used to repay some of the convertible debt due next year in February. It will also help with the global launch of its COVID vaccine – Nuvaxovid.

Heading into this stock market news, Wall Street had a consensus “hold” rating on Novavax shares that are down more than 90% versus the start of 2022.

Novavax shares down on restated U.K. agreement

J. Wood Capital will act as the financial advisor for the announced offerings while JPMorgan, Jefferies, and Cowen will together serve as the book-running managers, the press release added.

Also on Thursday, the United Kingdom restated its agreement with Novavax Inc. The Nasdaq-listed firm will now deliver 7.5 million conditional doses only versus an agreement for 15 million before.

The stock market news comes a month after Novavax cited waning demand for its COVID vaccine and lowered its guidance for full-year sales. The biotech company now expects roughly $2.0 billion in sales this year.

Its revenue in the latest reported quarter, however, was better than expected.

The post Novavax shares opened 20% down on Thursday: this is why appeared first on Invezz.

You Might Also Like
  • Should you buy the euro amid ECB’s Schnabel keeping a hawkish rhetoric?
  • Is Supply@Me a good penny stock for 2023?
  • Options Strategies for Small Accounts
  • Rent the Runway stock surged: What can go wrong?
Share
0
FacebookTwitterPinterestWhatsapp

previous post
After Three Holiday Seasons, Pandemic Monetary Policy Still Driving up Prices
next post
Pro reacts to Musk selling another $3.6 billion of Tesla shares

You may also like

3 tech fallen angels that could go bankrupt in 2023

January 3, 2023

Why You Should Invest in Metals

April 27, 2023

Option Settlement: The Basics

February 6, 2023

Don’t fight US stocks during the Thanksgiving week

November 25, 2022

3Commas admits to API keys leak after anon reveals database

December 29, 2022

Is it safe to buy the Dow Jones index after...

December 1, 2022

Lloyds share price outlook for December 2022

December 1, 2022

MULN stock price forecast: Is it safe to buy Mullen...

December 21, 2022

Amazon Web Services will take a further hit in 2023:...

December 5, 2022

Analyst blasts Amazon for running a ‘not-for-profit enterprise’

December 22, 2022

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past...

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    FedEx is ‘setting the bar pretty...

    December 21, 2022

    Long Straddle Options Strategy: The Ultimate...

    March 27, 2023

    Coinbase halts NFT transfers for iOS...

    December 2, 2022
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here