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Jun 30, 2020
Novavax Q2 2020 Earnings Report
Reported financial results and operational highlights for the second quarter ended June 30, 2020.
Key Takeaways
Novavax reported a net loss of $17.5 million, or $0.30 per share, for the second quarter of 2020, compared to a net loss of $39.6 million, or $1.69 per share, for the second quarter of 2019. Revenue in the second quarter of 2020 was $35.5 million, compared to $3.4 million in the same period in 2019. The increase was due to increased development activities relating to NVX-CoV2373 under the CEPI agreement.
Novavax' unprecedented development activities for NVX-CoV2373 and progress continued through the second quarter
Identified a candidate vaccine to address the COVID-19 pandemic in March
Secured significant funding and implemented global manufacturing capacity
Completed and reported successful Phase 1 trial