(Novavax) Biotech firm Novavax announced $298 million in revenues in the second quarter ending June 30, up from 35.54 million reported in the comparable quarter of 2020.
For the six months ended June 30, Novavax revenues were $745.2 million, up from $38.92 million in the comparable period of 2020.
The biotech’s net loss in the quarter widened to $352.32 million or -$4.75 diluted earnings per share, up from a loss of $17.52 million, or -$0.30 EPS in the second quarter of 2020.
In the six months ending June 30, net loss was $575 million or -$7.82 EPS, up from a loss of $43.4 million or -$0.84 EPS in the first half of 2020.
The company said it is on track to manufacture 100 million doses and 150 million doses per month in the third and fourth quarter, respectively.
Novavax said it is in the process of submitting a regulatory filing of its vaccine in the UK by September.
The company has already filed for regulatory authorization in Indonesia, India, and the Philippines, even as it aims to become a major distributor in the middle and lower-income countries this year.
NVAX: NASDAQ is down -11.73%.
