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More on Novavax Q2: shares tumble

  • Novavax (NVAX) shares sink 4.4% following Q2 earnings miss.
  • Net loss more than doubles to $12.6M.
  • Revenue halves to $3.5M from $7.1M, mainly due to a higher funding for clinical trials associated with seasonal and pandemic influenza programs in Q2 2012.
  • Cash and cash equivalents and investments $40.6M vs $50.3M at the end of 2012. Net cash used in operating activities was $18.2M in H1 vs $10.3M a year earlier, primarily due to increased R&D spending. (PR)
Comments (1)
  • jamaicanholiday
    , contributor
    Comments (38) | Send Message
     
    earnings for clinical biotechs are meaningless.........it is about pipeline progress and outcomes. share sell off is BUYING opportunity. nobody with any basic insight expected NVAX to report earnings. irrational reaction to news today. BUY on dips.
    8 Aug 2013, 10:45 AM Reply Like
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