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11/4/2021, 9:08 PM (Source: TeleTrader)
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Novavax Q3 net loss surges to $322 million

Novavax Inc. published on Thursday its third-quarter earnings results, revealing that its revenue increased by 14% to $178.84 million. However, the company's net loss expanded more than 60% to $322 million, with diluted loss per share reaching $4.31.

However, Novavax shared hopes the financial results would improve as health authorities worldwide approve its COVID-19 vaccine. Only Indonesia has greenlighted its use so far, while data reviews are ongoing in the European Union, the United Kingdom, and the World Health Organization.

"With additional regulatory submissions around the world, we are prepared to deliver our vaccine globally. We believe the highly encouraging results from our six-month booster study complement the strong efficacy demonstrated by NVX-CoV2373 to date, and we remain confident that our vaccine will serve as an important tool to fight COVID-19 in the years to come," CEO Stanley Erck noted.

Baha Breaking News (BBN) / ND