Novavax Third Quarter 2008 Earnings (NVAX)

Novavax, (NVAX - NASDAQ) reported it's earnings last week.
NVAX was one of the stock being tracked on this blog.
The bear market continued to slash the value of the whole sector and the growing losses of Novavax are just one example.

Novavax, Inc. NVAX today announced financial results for the third quarter ended September 30, 2008. Novavax reported a net loss of $7.8 million ($0.12 loss per share) for the third quarter of 2008 compared to a net loss of $9.0 million ($0.15 loss per share) for the third quarter of 2007. The net cash burn for the third quarter 2008 was $8.3 million, before consideration for the equity financing completed during the third quarter which realized net cash proceeds of $17.6 million.

The bearish chart looks like this:
(Weekly chart, last two years)