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Dec 31, 2019
Novavax Q4 2019 Earnings Report
Novavax experienced a net loss, but revenue increased due to BARDA contract closeout and progress in vaccine development efforts.
Key Takeaways
Novavax reported a net loss of $31.8 million for Q4 2019, compared to a net loss of $49.3 million for Q4 2018. Revenue increased by 44% to $8.8 million, driven by the recovery of additional costs under the HHS BARDA contract. The company is progressing with its NanoFlu, COVID-19, and ResVax programs.
Net loss for Q4 2019 was $31.8 million, or $1.13 per share, compared to a net loss of $49.3 million, or $2.57 per share, for Q4 2018.
Revenue for Q4 2019 was $8.8 million, a 44% increase compared to $6.1 million in Q4 2018, driven by BARDA contract closeout.
Research and development expenses decreased by 32% to $29.3 million in Q4 2019.
Novavax had $82.2 million in cash, cash equivalents, marketable securities, and restricted cash as of December 31, 2019.