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Jun 30, 2021
Novavax Q2 2021 Earnings Report
Reported a net loss due to increased research and development expenses, but revenue increased due to NVX-CoV2373 development activities.
Key Takeaways
Novavax reported a net loss of $352 million for the second quarter of 2021, compared to a net loss of $18 million for the same period in 2020. Revenue increased to $298 million, driven by increased development activities related to NVX-CoV2373. The company had $2.1 billion in cash, cash equivalents and restricted cash as of June 30, 2021.
Net loss was $352 million, or $4.75 per share.
Revenue increased to $298 million due to NVX-CoV2373 development.
Research and development expenses increased to $571 million.
Cash, cash equivalents and restricted cash totaled $2.1 billion as of June 30, 2021.
Novavax
Novavax
Forward Guidance
Forward-looking statements include risks related to satisfying regulatory requirements, obtaining scarce raw materials, resource constraints, and meeting contractual requirements.