Novavax Inc., of Rockville, which is developing vaccines to treat viral infections, reported a fourth-quarter net loss of $8 million, or 6 cents per diluted share, versus a net loss of $3.7 million, or 3 cents per share, in the prior-year period.
The quarterly result failed to meet the expectations of analysts polled by Thomson Reuters, who on average forecast a loss of 4 cents per share.
Revenue totaled $4.6 million in the 2012 quarter, versus $5.8 million in the year-ago period.
Analysts had predicted revenue of $7.04 million for the most recent quarter.
The company attributed the increased loss to higher research and development spending, higher employee-related costs, and expenses associated with a new manufacturing facility.