GAITHERSBURG, Md. (AP) _ Novavax Inc. (NVAX) on Thursday reported a loss of $18 million in its third quarter.
On a per-share basis, the Gaithersburg, Maryland-based company said it had a loss of 74 cents. Losses, adjusted for non-recurring gains, came to $1.03 per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of $1.02 per share.
The vaccine maker posted revenue of $2.5 million in the period.
In the final minutes of trading on Thursday, the company's shares hit $4.50. A year ago, they were trading at $39.40.