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Novavax, Inc. Message Board

  • lobo.delsol lobo.delsol Mar 31, 2009 6:25 PM Flag




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    • While you are laughing:

      An article came out - let me HILIGHT THE KEY POINTS FOR YOU:


      much-needed capital infusion

      the biotech reported a $36 million loss for 2008.

      reported a net loss of $11 million, or 15 cents per share, for the fourth quarter

      a net loss of $9.2 million, or 16 cents per share, in the fourth quarter of 2007.

      For the year, the company lost $36 million, or 53 cents per share,

      a net loss of $34.8 million, or 57 cents per share, in 2007.

      Revenue for 2008 was $1.1 million, compared to $1.5 million in 2007 — a drop the company attributed to the timing of completing government contracts.

      Fourth-quarter revenues were $70,000, down from $383,000 for the same period in 2007.

      Research and development costs were $24.3 million in 2008.

      The company attributes the 38 percent increase over 2007 to expenses to support its vaccine technology.

      which will be owned 80 percent by Cadila and 20 percent by Novavax,

      Novavax ended 2008 with $33.9 million in cash and investments compared to $46.5 million at the end of 2007.

      Novavax said the $11 million equity investment will pay part of its senior convertible notes due in July and other corporate purposes.

      Novavax could delay or reduce work on its research programs or potentially cut more jobs and costs to stay in business.

      It had already slashed 20 percent of its work force to reduce spending by nearly 20 percent in 2009.

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