Categories AlphaGraphs, Earnings, Health Care
NVAX Earnings: Key highlights from Novavax Q1 2020 results
Coalition for Epidemic Preparedness Innovations (CEPI) increases investment up to $388 million for NVX‑CoV2373 vaccine development & manufacturing
Novavax, Inc. (NASDAQ: NVAX) today announced its first quarter financial results for the period ended March 31, 2020.
NVAX reported net loss of $25.9 million, or $0.58 per share, compared to a net loss of $43.2 million, or $2.11 per share in the first quarter of 2019.
Revenues declined 15% to $3.4 million.
We shared successful pivotal Phase 3 results for NanoFlu that demonstrated both efficacy and safety in a pivotal trial, a significant milestone towards bringing this innovative product to an influenza market in need of new options. We also reacted quickly to the coronavirus pandemic by developing and quickly advancing NVX‑CoV2373, our COVID‑19 vaccine candidate, which shows strong potential to have a positive impact on this global health crisis. Looking ahead, with a strengthened balance sheet and CEPI’s substantial funding, we will focus on scaling up manufacturing and delivering clinical data for NVX‑CoV2373, while simultaneously completing the necessary actions needed to prepare our BLA filing for NanoFlu.
Stanley C. Erck, President and CEO
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