Novavax delays its COVID-19 vaccine timeline

Novavax Inc.[NVAX] has delayed plans to seek regulatory clearances for its COVID-19 vaccine, while shortages in raw materials are slowing the ramp-up of production of doses, the company said.The delays may set back efforts to increase vaccinations in developing countries, which have been dealing with limited doses of currently available shots and are looking forward to Novavax’s.Previously, Novavax NVAX, -8.81% said it expected to complete requests for regulatory authorizations of its COVID-19 vaccine in the U.S., the U.K. and other European countries by the end of June. Now, the company said Monday it expects to complete those filings by the end of September.Novavax said it also pushed back the timetable for when it expects to reach full production output of about 150 million doses a month, to the fourth quarter this year from a prior target of the third quarter.Source: marketwatch