- 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)