(Reuters) – Novavax Inc on Monday revealed a sharp drop in its COVID-19 research funding for the first quarter and said it shipped less than a quarter of the total planned COVID vaccine deliveries for 2022.
The company has delivered 31 million doses of its vaccine against COVID-19, a small fraction of the 2 billion shots it plans to send around the world in 2022.
It reported a drop in research funding under its agreements with the U.S. government and with the Coalition for Epidemic Preparedness Innovations, with grant revenue dropping to $99 million from $447 million in the prior year.
(Reporting by Mrinalika Roy in Bengaluru; Editing by Devika Syamnath)
