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Novavax Earnings: NVAX Stock Soars 8% on Strong Q4 Revenue Beat

NVAX missed EPS estimates for the quarter

Novavax (NASDAQ:NVAX) earnings for fiscal fourth quarter of 2019 have NVAX stock heading higher after-hours Wednesday. This is despite its diluted losses per share of -$1.13 missing Wall Street’s estimate of -$1.06. The vaccine company’s revenue of $8.82 million, on the other hand, easily beats out analysts’ estimates of $2.06 million.

Novavax Earnings: NVAX Stock Soars 8% on Strong Q4 Revenue Beat
Source: Ascannio/

Let’s take a more thorough look at the most recent Novavax earnings report below.

  • Diluted per-share losses are 56.03% better than the -$2.57 from the fiscal fourth quarter of 2018.
  • Revenue for the quarter is sitting 43.88% higher than the $6.13 million reported in the same period of the year prior.
  • Operating loss of -$28.71 million is a 38.27% improvement year-over-year from -$46.51 million.
  • The Novavax earnings report also includes a net loss of -$31.83 million.
  • That’s 35.48% better than the -$49.33 million reported during the same time last year.

Stanley C. Erck, president and CEO of Novavax, said this about the NVAX stock earnings report:

“We continue to make progress towards partnering our ResVax program and recently announced progress in our efforts to develop a vaccine against COVID-19, with the goal of moving one or more optimized COVID- 19 candidates into the clinic by the end of this spring.”

The Novavax earnings report doesn’t include its outlook for fiscal 2020. Even so, we know what Wall Street is expecting. That includes losses per share of -$3.19 on revenue of $3.52 million.

NVAX stock was up 7.71% after markets closed on Wednesday.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media,

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