Novavax swings to profit on strong Nuvaxovid revenue

Novavax swung to a profit in Q4, reporting revenue of $147 million, a 67% year-on-year increase. The company posted EPS of $0.11, beating expectations of a loss. Annual revenue jumped 65% to $1.12 billion, fuelled by Nuvaxovid sales and partnership settlements. Shares rose over 1% pre-market following the earnings beat.