Shares of AbbVie Inc (NYSE:ABBV) ended Friday session in green amid volatile trading. The shares closed up +0.09 points or 0.14% at $64.12 with 4.10 million shares getting traded. Post opening the session at $64.37, the shares hit an intraday low of $63.87 and an intraday high of $64.48 and the price vacillated in this range throughout the day. The company has a market cap of $104.31 billion and the numbers of outstanding shares have been calculated to be 1.63 billion shares.
AbbVie Inc (ABBV) announced that it will participate in the Morgan Stanley Global Healthcare Conference on Wednesday, Sept. 14, 2016. Bill Chase, executive vice president and chief financial officer, will participate in a question and answer session at 10:40 a.m. Central time.
A live audio webcast of the presentation will be accessible through AbbVie’s Investor Relations website at www.abbvieinvestor.com. An archived edition of the session will be available later that day.
Shares of Novavax, Inc. (NASDAQ:NVAX) ended Friday session in red amid volatile trading. The shares closed down -0.05 points or -0.73% at $6.77 with 2.44 million shares getting traded. Post opening the session at $6.83, the shares hit an intraday low of $6.72 and an intraday high of $6.92 and the price vacillated in this range throughout the day. The company has a market cap of $1.83 billion and the numbers of outstanding shares have been calculated to be 271.19 million shares.
Novavax, Inc. (NVAX) on Aug. 09, 2016 announced its financial results for the second quarter and six months ended June 30, 2016.
Financial Results for the Three and Six Months Ended June 30, 2016
Novavax reported a net loss of $79.4 million, or $0.29 per share, for the second quarter of 2016, compared to a net loss of $20.6 million, or $0.08 per share, for the second quarter of 2015. For the six months ended June 30, 2016, the net loss was $156.6 million, or $0.58 per share, compared to a net loss of $45.0 million, or $0.18 per share, for the same period in 2015.
Novavax revenue in the second quarter of 2016 decreased 82% to $2.5 million, compared to $14.0 million for the same period in 2015. Lower revenue under the BARDA contract of $13.6 million is the primary driver of this decrease. The decline in BARDA revenue in the second quarter of 2016 is the result of the one-time recognition of $7.7 million in revenue in the second quarter of 2015, and the recent advances in the Company`s seasonal influenza nanoparticle program which resulted in the wind-down of VLP influenza activities under the BARDA contract. This decrease in BARDA revenue was partially offset by $1.7 million in revenue recorded under the BMGF grant relating to our ongoing Prepare clinical trial.
Research and development expenses increased 134% to $64.9 million in the second quarter of 2016, compared to $27.7 million for the same period in 2015. The increase in research and development expenses was primarily due to increased costs associated with the clinical trials and development activities of our RSV F Vaccine and higher employee-related costs, including non-cash stock-based compensation.