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5/10, 10:06 PM (Source: TeleTrader)
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Novavax+2.09%

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Novavax's Q1 revenue soars to $447 million

Novavax Inc. announced on Monday that its revenue in the first quarter of fiscal 2021 jumped by a whopping 13143.4% compared to last year's first-trimester figure of $3.4 million to stand at $447.2 million.

Total expenses were up from $26.3 million to $655.9 million, bringing the company's net loss to $222.7 million or $3.05 per diluted share. "Novavax made great strides over the first quarter to pave the path for our COVID-19 vaccine candidate, NVX-CoV2373, notably achieving statistically significant efficacy across our Phase 3 UK and Phase 2b South Africa trials," company CEO Stanley Erck commented.

Novavax shares rose slightly after the release, gaining 0.75% in the after-hours trading after it plunged 8.81% at the closing bell.

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