Shares of biotech company Novavax (NVAX - Free Report) plunged 19.6% in Friday trading after it delayed U.S. submission for its Covid-19 vaccine for the third time. Novavax said it now expects to apply for U.S. emergency-use authorization in the fourth quarter of this year.
NVAX has filed for emergency clearance in other regions like India, Indonesia & the Philippines, and it said it expects to submit its vaccine with the U.K., Europe, Australia, Canada & New Zealand in the third quarter.
Other news weighing on the stock is its second-quarter earnings results. The company reported a wider-than-expected loss of $4.75 per share; analysts were looking for a loss of $3.63 per share. Even though revenue skyrocketed 728% to $298 million, the top line still missed estimates of $387.9 million.
NVAX is up over 70% year-to-date.
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Shares of biotech company Novavax (NVAX - Free Report) plunged 19.6% in Friday trading after it delayed U.S. submission for its Covid-19 vaccine for the third time. Novavax said it now expects to apply for U.S. emergency-use authorization in the fourth quarter of this year.
NVAX has filed for emergency clearance in other regions like India, Indonesia & the Philippines, and it said it expects to submit its vaccine with the U.K., Europe, Australia, Canada & New Zealand in the third quarter.
Other news weighing on the stock is its second-quarter earnings results. The company reported a wider-than-expected loss of $4.75 per share; analysts were looking for a loss of $3.63 per share. Even though revenue skyrocketed 728% to $298 million, the top line still missed estimates of $387.9 million.
NVAX is up over 70% year-to-date.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
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