Novavax, Inc. (NASDAQ: NVAX) is having an incredibly strong day in the pre-market hours today, and for good reason. The company released earnings for the second quarter, coming in relatively in line with estimates. As a result, excited investors started to push the stock toward the top, prompting our partners at Trade Ideas to alert us to the movement. Currently (7:23), NVAX is trading at $1.14 per share after a gain of $0.17 per share or 17.38% thus far today.
NVAX Gains On Strong Earnings
As mentioned above, Novavax is having a strong start to the day today in the pre-market hours thanks to the release of its earnings report. Here’s what we saw from the report:
- Earnings Per Share – In terms of earnings per share, NVAX didn’t disappoint. During the second quarter, analysts expected that the company would generate a loss of $0.16 per share. That’s exactly the loss that the company reported.
- Revenue – When it comes to revenue, NVAX did well as well. During the second quarter, analysts expected that the company would generate $6.3 million in revenue. However, the company actually reported revenue in the amount of $6.7 million.
In a statement, Stanley C. Erck, President and CEO at Novavax, had the following to offer:
“Novavax has demonstrated considerable progress in our RSV F Vaccine program, highlighted by the continued strong execution of the Prepare trial, and the data from our recent trial in older adults, which confirmed the ability of the vaccine to generate robust immune responses and provided us with a development path forward… We are also excited by the recent preclinical results of our nanoparticle influenza vaccine and look forward to Phase ½ clinical data in the fourth quarter of this year.”
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on NVAX. In particular, we’re interested in following the company’s coming Phase 1/2 clinical study as well as following other clinical developments through ongoing and coming trials. We’ll continue to follow the story closely and bring the news to you as it breaks!
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