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. Shares are down 2.75%.
Novavax, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.06 in the quarter versus EPS of $-0.03 in the year-earlier quarter.
Revenue: Decreased 21.37% to $4.6 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Novavax, Inc. reported adjusted EPS loss of $0.06 per share. By that measure, the company missed the mean analyst estimate of $-0.04. It missed the average revenue estimate of $7.04 million.
Quoting Management: Stanley C. Erck, President and Chief Executive Officer of Novavax, stated, “In 2012 we made significant progress across our complete pipeline of vaccine candidates, with positive clinical data announced for our RSV vaccine candidate, as well as our seasonal and pandemic (H5N1) influenza vaccines. Of particular note are results we announced last October from two Phase I pandemic (H5N1) influenza vaccine trials, which showed highly robust immunogenicity at multiple dose levels both with and without two separate adjuvants, and evidence of cross protection against a mismatched strain. This positive influenza data has undergone inter-governmental-agency panel review, and the U.S. Department of Health and Human Services’ Biomedical Advanced Research and Development Authority (BARDA) is continuing support of our vaccine advanced development contract.”
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