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Novavax CFO to step down, biotech company says

Economy, Finance

Novavax Inc. said late Tuesday that Chief Financial Officer Greg Covino is stepping down for personal reasons, but will remain connected to the company as an executive adviser. The biotech also said it promoted Gale E. Smith to chief scientist and Troy Morgan as chief compliance officer. Executive Vice President John J. Trizzino will assume the role of CFO while the company searches for a permanent replacement. Novavax said last week it will expand clinical trials of its COVID-19 vaccine candidate to include children and teens. Earlier this year, the company said it hoped to get an emergency-use authorization from the FDA for its vaccine candidate in May. Shares of Novavax fell 0.9% in the extended session Tuesday after the stock rallied nearly 11% during the regular trading day.

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