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Mar 31, 2020
Novavax Q1 2020 Earnings Report
Reported a net loss due to decreased revenue, partially offset by revenue from CEPI's funding, and made progress in influenza and COVID-19 vaccine programs.
Key Takeaways
Novavax reported a net loss of $25.9 million, or $0.58 per share, for the first quarter of 2020. Revenue was $3.4 million, a 15% decrease compared to the same period in 2019. The company is focusing on scaling up manufacturing and delivering clinical data for NVX-CoV2373, while preparing the BLA filing for NanoFlu.
Net loss was $25.9 million, or $0.58 per share.
Revenue was $3.4 million, a 15% decrease year-over-year.
Research and development expenses decreased 52% to $16.9 million.
Cash, cash equivalents, marketable securities and restricted cash totaled $244.7 million as of March 31, 2020.
Novavax
Novavax
Forward Guidance
Novavax is focused on scaling up manufacturing and delivering clinical data for NVX-CoV2373, while simultaneously completing the necessary actions needed to prepare their BLA filing for NanoFlu.