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Novavax Posts Widened Q1 Loss on Higher Revenue; Tops Wall Street Estimates

05/10/2021 12:29

04:18 PM EDT, 05/10/2021 (MT Newswires) -- Novavax (NVAX) posted a Q1 net loss of $3.05 a share, compared with a net loss of $0.58 a share for the same quarter in 2020. The widened loss was attributable in part to increased research and development expenses.

Revenue for the quarter soared to $447 million, up from $3 million, due largely to government funding associated with the development of its COVID-19 vaccine.

Analysts polled by Capital IQ expected the vaccine developer to post a net loss of $3.60 a share, on revenue of $233.9 million.

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