Novavax Reports Third Quarter 2016 Financial Results

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Go back to Novavax Reports Third Quarter 2016 Financial Results

Novavax (NVAX) Tops Q3 EPS by 2c; Will Implement Restructuring Plan

November 9, 2016 4:07 PM EST

Novavax (NASDAQ: NVAX) reported Q3 EPS of ($0.24), $0.02 better than the analyst estimate of ($0.26). Revenue for the quarter came in at $3.2 million versus the consensus estimate of $4.02 million.

The Company presented a restructuring plan designed to meet the following key objectives:

Prioritize development activities to achieve clinical data events within 2017;Reduce cash burn, extend financial horizon and minimize near-term dilution; andMaintain operational core competencies to execute development plans.

The... More