Novavax erases doubts about its ability to remain in business

(Reuters) - COVID-19 vaccine maker Novavax, on Friday, erased doubts about its ability to remain in business by removing a so-called "going concern" notice.

In February, Novavax had raised doubts about its ability to remain in business and announced plans to slash spending as it worked to prepare for a fall vaccination campaign.

The company also said on Friday that its revenue rose to $94 million in the first quarter, from $81 million in the same period in 2023.

(Reporting by Utkarsh Shetti in Bengaluru; Editing by Savio D'Souza)