Shares of Novavax (NASDAQ: NVAX) were sliding 6.7% lower as of 11:14 a.m. EDT on Tuesday. The decline came after the Australian newspaper The Guardian reported major delays with Australia's supply deal for Novavax's COVID-19 vaccine, NVX-CoV2373. Novavax signed an agreement in January 2021 to supply 51 million doses of its COVID vaccine to Australia.
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