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
After Novavax (NASDAQ: NVAX) reported its progress on developing the COVID-19 vaccine at the end of February, the shares of the company started trading in double-digits after a long time.
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