Novavax posts higher 4Q loss

Posted: 5:24 pm Fri, March 12, 2010
By Staff and Wire Reports

Novavax Inc., of Rockville, reported a fourth-quarter net loss of $14 million, or 15 cents per share, on revenue of $75,000, versus a net loss for the prior-year period of $11.1 million, or 16 cents per share, on revenue of $70,000.

Analysts surveyed by Thomson Reuters on average had expected a quarterly loss of 6 cents per share and revenue of $110,000. Novavax said the higher loss was due to an expansion of clinical trials underway in 2009.

The company is developing vaccines to protect against H1N1 pandemic influenza, seasonal flu and other viral diseases.