Novavax earnings: NVAX shares rise 8% on strong Q4 revenue

<p>Novavax (NASDAQ: NVAX) earnings for fiscal fourth quarter 2019, the NVAX share is higher after the evening on Wednesday. This despite its diluted losses per share of – $ 1.13, Wall Street lacked an estimate – $ 1.06. The vaccine company’s revenue of $ 8.82 million, on the other hand, easily beats analysts’ estimates of $ 2.06 million.

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Let’s take a closer look at the latest Novavax earnings report below.

Diluted losses per share are 56.03% better than – $ 2.57 from the fourth quarter of 2018. Quarterly revenue is 43.88% higher than the $ 6.13 million reported during the same period last year. Operating profit of – $ 28.71 million is an improvement of 38.27% compared to the previous year from – $ 46.51 million. Novavax’s earnings report also includes a net loss of $ 31.83 million. That is 35.48% better than the $ 49.33 million reported during the same period last year.

Stanley C. Erck, President and CEO of Novavax, said this about the NVAX share performance report:

“We continue to make progress toward collaborating with our ResVax program and recently announced progress in our efforts to develop a COVID-19 vaccine, with the goal of moving one or more optimized COVID-19 candidates to the clinic in late spring. ”

Novavax’s earnings report does not include the outlook for the financial year 2020. Nevertheless, we know what Wall Street expects. This includes losses per share of – $ 3.19 on revenue of $ 3.52 million.

The NVAX share increased by 7.71% after the markets closed on Wednesday.

At the time of writing, William White had no position in any of the above securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/03/novavax-earnings-send-nvax-stock-soaring/.

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