Tuesday, November 14, 2006

Novavax 3Q loss widens

The flu vaccine program is one of the main attractions in nanovax for speculative investors, but it might be one of the reasons why fundamental investors are keeping away right now.

The stock is naturally heading lower now, and the correction should continue for at least a couple of days. Even after the bad news, the stock is still up from last week.

NOV. 14 9:08 A.M. ET Biopharmaceutical company Novavax Inc. said Tuesday its third-quarter loss widened on higher costs for developing its flu vaccine program.

The company lost $5 million, or 8 cents per share, compared with a loss of $2.7 million, or 6 cents per share, a year ago. Analysts polled by Thomson Financial expected a loss of 11 cents per share.

Revenue dipped to $1.2 million from $1.9 million a year ago, while analysts expected revenue of $700,000.

Article at BusinessWeek.com



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