Novavax, Inc. (NASDAQ:NVAX) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Novavax, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.07 in the quarter versus EPS of $-0.06 in the year-earlier quarter.
Revenue: Decreased 17.46% to $3.83 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Novavax, Inc. reported adjusted EPS loss of $0.07 per share. By that measure, the company missed the mean analyst estimate of $-0.06. It missed the average revenue estimate of $5.54 million.
Quoting Management: “Highlighting a very eventful quarter were the impressive results we reported last month from the Phase II clinical trial of our RSV vaccine candidate, which has the potential to become a new standard of preventive care if later-stage studies are successful,” said Stanley C. Erck, President and Chief Executive Officer of Novavax. “The vaccine induced clinically meaningful immunity against RSV infection with no apparent safety concerns, suggesting it may protect infants through maternal immunization — an important consideration in preventing severe respiratory disease due to RSV. In the meantime, we are continuing our work in collaboration with the U.S. Department of Health and Human Services’ Office of Biomedical Advanced Research and Development Authority (BARDA) to develop seasonal and pandemic influenza vaccines and prepare for later-stage clinical trials and are making important progress in both programs. We shall continue to manage our financial resources carefully as we execute these development programs and look forward to reporting on our clinical and corporate progress later this year.”
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