Novavax Q2 Loss Widens; Reports Positive Top-Line Data From RSV F Vaccine Trial

(RTTNews) - Novavax, Inc., (NVAX) reported a second quarter net loss of $20.6 million, or $0.08 per share, compared to a net loss of $17.9 million, or $0.08 per share, for the second quarter of 2014.

On average, seven analysts polled by Thomson Reuters expected the company to report a loss per share of $0.09 for the quarter. Analysts' estimates typically exclude special items.

Revenue increased 69% to $14.0 million, compared to $8.3 million for the same period in 2014. The company said this increase resulted from the recovery of additional costs under the HHS BARDA contract for the settlement of indirect rates for fiscal years 2011 and 2012, resulting in an additional $7.7 million in revenue for the quarter. Analysts expected revenue of $9.90 million for the quarter.

Separately, Novavax announced positive top-line data from a Phase 2 clinical trial of its RSV F-protein recombinant nanoparticle vaccine candidate (RSV F Vaccine) in older adults. The company said the RSV F Vaccine was well-tolerated and fulfilled its expectations of the primary, secondary and exploratory objectives of the trial.

Stanley Erck, President and CEO, sadi: "We are committed to pursuing an aggressive developmental timeline for this program which includes discussions with regulatory authorities and initiation of a pivotal Phase 3 trial as early as the fourth quarter of this year. We also expect to announce safety and immunogenicity data from the RSV F Vaccine Phase 2 trial to protect infants via maternal immunization later this quarter."