Novavax 3Q loss narrows on cost cuts
Novavax's 3rd-quarter loss narrows following cost-cutting program
- On 11:13 am EST, Friday November 6, 2009
ROCKVILLE, Md. (AP) -- Drug developer Novavax Inc. said its third-quarter loss narrowed slightly on lower expenses following staff cuts and other cost cutting.
Novavax lost $7.5 million, or 8 cents per share, compared with a loss of $7.8 million, or 12 cents per share, during the same period a year prior. Revenue rose 3.6 percent to $201,000 from $194,000.
Analysts polled by Thomson Reuters expected a loss of 9 cents per share.
Operating costs and expenses fell 15 percent to $8.5 million.
The company is currently developing a pandemic and seasonal flu vaccine.
Shares of Novavax fell 13 cents, or 3.2 percent, to $3.90 in midday trading. The stock has traded between 52 cents and $7.79 over the last 52 weeks.
Related Headlines
- Novavax to Hold Public Offering of Common Stock - at Fox Business
- NOVAVAX INC Files SEC form 8-K, Entry into a Material Definitive Agreement - EDGAR Online
- Novavax plans offering of 6.8M shares; stock falls - AP
- Uncertainty Breeds Opportunity in Specialty Pharma Stock Pick From Piper Jaffray Senior Research Analyst - Wall Street Transcript
- Novavax Prices Public Offering of Common Stock - PR Newswire
Related Blog Headlines
- CDC Sticking with 'Tried and True' Methods for Flu Vaccines - at Seeking Alpha
- Monday Options Recap - at Seeking Alpha
- A Mixed Bag for Traders and Investors in Healthcare - at Seeking Alpha
- Swine Flu Stocks: Where Are They Now? - at Seeking Alpha
- Healthcare Takeover Talk Continues - at Seeking Alpha
Top Stories
- Stocks Higher in Early Trade - Reuters
- Weekly jobless claims drop below 500,000 - AP
- Consumers log stronger-than-expected rebound - AP
- Durable goods orders fall unexpectedly in October - Reuters
- Wednesday's stocks to watch - MarketWatch
Sponsored Links
-
Trade Stocks? Try Currency Trading
Trade in a highly trending market 24-hrs a day, 5.5 days a week. GFT. -
Buy Stocks for $4
No account or investment minimums. No inactivity fees. Start Today.
-
Earn From 1.90% to 2.20% Apply Online
With GE Capital Corporation. Not An Offer Of Securities For Sale. -
Super Cheap Car Insurance Quotes
Get Discount Auto Insurance Quotes Online - Rates from $15 / Month.
Tech Ticker Recent Posts
- Don't Blame the Shorts: A History of Misplaced Aggression - Heesun Wee
- Housing Bottom? "Not Even Close," Barry Ritholtz Says - Aaron Task
- A Bad Economy Could Spell Good News on Wall Street for Years to Come - Peter Gorenstein
Add Alert Copyright © 2009 The Associated Press. All rights reserved. The information contained in the AP News report may not be published, broadcast, rewritten, or redistributed without the prior written authority of The Associated Press.