Stocks to Watch: Novavax, Reata Pharmaceuticals, Rivian Automotive, FIGS, OncoSec Medical

Dow Jones

Mar 01, 2023

By Kathryn Hardison

Novavax Inc. on Tuesday issued a going concern warning and reported fourth-quarter sales and profit that missed Wall Street views. The vaccine maker said its current cash flow looks sufficient to fund operations over the next year, though that forecast faces significant uncertainty. Shares dropped 26% in after-hours trading.

Reata Pharmaceuticals Inc.'s drug Skyclarys, or omaveloxolone, was approved by the Food and Drug Administration for treating the neurological disorder Friedreich's ataxia in adults and adolescents age 16 and older. Shares soared 189% in after-hours trading.

Rivian Automotive Inc. said it is recalling more than 12,700 of its electric vehicles and reported fourth-quarter revenue that fell short of Wall Street expectations. Shares fell 9.4% in after-hours trading.

FIGS Inc. provided guidance for mid single-digit revenue growth in 2023, compared with analysts' forecast for an 11% boost. Shares of the healthcare apparel company declined 12% in after-hours trading.

OncoSec Medical Inc. filed to withdraw a planned offering of stock and warrants. Shares jumped 47% in after-hours trading.

Write to Kathryn Hardison at kathryn.hardison@wsj.com

(END) Dow Jones Newswires

February 28, 2023 18:53 ET (23:53 GMT)

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