There was a lot of promise around Novavax (NASDAQ: NVAX) and its COVID vaccine a few years ago. But with the company being late to the finish line and now generating limited revenue from the vaccine, it has effectively missed the boat and the huge revenue that rivals Moderna and Pfizer have accumulated.

Novavax's future remains uncertain these days, as the company is back to needing a strong product to build its business around. Here's a look at where Novavax might be five years from now, and whether it's worth investing in the stock today.

Novavax is in cost-cutting mode. Reducing its expenses for both research and development and selling, general, and administrative costs is a key priority for the business in 2024. By the end of this year, it expects that its combined R and SG spending will be less than $750 million. That would amount to a nearly $1 billion cost reduction from the $1.7 billion it spent on those categories in 2022.

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Source Fool.com