Novavax Inc. Q3 Loss Increases, Misses Estimates

(RTTNews) - Novavax Inc. (NVAX) released Loss for its third quarter that increased from the same period last year and missed the Street estimates.

The company's bottom line totaled -$202.379 million, or -$1.25 per share. This compares with -$121.300 million, or -$0.76 per share, last year.

Analysts on average had expected the company to earn -$0.92 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 16.6% to $70.445 million from $84.512 million last year.

Novavax Inc. earnings at a glance (GAAP) :

-Earnings: -$202.379 Mln. vs. -$121.300 Mln. last year. -EPS: -$1.25 vs. -$0.76 last year. -Revenue: $70.445 Mln vs. $84.512 Mln last year.

Looking ahead, for the full year, Novavax has revised up its revenue outlook in line with analysts' forecast.

Excluding items, the company now expects total revenue of $1.040 billion to $1.060 billion, higher than the earlier guidance of $1 billion to $1.050 billion. Analysts, on average, forecast the firm to report revenue of $1.05 billion for the year.