After a brutal three-year period that saw its shares collapse by 99%, any remaining longtime shareholders of Novavax (NASDAQ: NVAX) are doubtlessly eager for the biotech to finally step out of the shadows of its first "success" and launch its next winner, even if it means waiting as long as 10 years.

Alas, that might not be enough time for this company to find its next big thing. In fact, it might not survive half that long. Here's why.

There is a strong possibility that Novavax won't even be in business in 2034. On Jan. 31, management announced another round of layoffs, slashing 12% of its workforce in the aftermath of cutting 25% of its employees in May 2023. Management has already told shareholders that the biotech's survival is in serious question.

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Source Fool.com