(NASDAQ: NVAX) investors have been on edge ever since the company fell behind in the coronavirus vaccine race. To make matters worse, earlier this year, Novavax even questioned its ability to continue operations. But in the first-quarter earnings call this week, new CEO John C. Jacobs offered investors reason for hope.

Jacobs revealed details about his strategy to cut costs, manage cash flow, and match Novavax's size to the demand for its only product: the coronavirus vaccine. As part of the plan, Novavax aims to slash 25% of its workforce. At the same time, the company reported solid data for a potential vaccine that could dominate in a post-pandemic world.

Let's find out more -- and what all of this means for investors.

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Source Fool.com