Novavax (NASDAQ:NVAX) shares slide more than 17% premarket after a Politico report flagged manufacturing problems with the vaccine maker that could hamper the global inoculation campaign.
The manufacturing problems at Novavax could jeopardize billions of doses meant to be distributed among poor and middle-income countries, according to the report.
The Politico report cited three people familiar with the matter saying that they are not confident Novavax has the resources required to reproduce a "high-quality vaccine on a consistent basis".
"Those same people said Novavax could potentially fix its manufacturing issues and reach full licensure by the end of 2022," the report added.
Previously, Novavax delayed the production and regulatory timeline for its protein-based vaccine candidate named NVX-CoV2373.
Earlier this month, Novavax had said that the Polish biotech firm Mabion SA said it signed a $372M worth deal with the company on Oct. 08 for its experimental COVID-19 vaccine.