Biotech Company Sees Revenue Decline But Remains Cautiously Optimistic About a Rebound
- Revenue decreased in 2023 - Q4 revenue was $291M, full year was $1.0B
- Net loss of $178M in Q4 and $545M for full year 2023
- Cut operating expenses by $1.1B (41%) and reduced headcount by 30%
- Starting Phase 3 trial of COVID-flu combo vaccine in 2024, potential launch in 2026
- 2024 revenue guidance of $800M-$1B shows cautious optimism