NEW YORK (TheStreet) -- Novavax (NVAX) - Get Report stock is declining 6.16% to $4.42 in late morning trading Monday after the clinical-stage vaccine company delivered lower-than-expected financial results for the 2015 fourth quarter.
Before today's market open, the Gaithersburg, MD-based company posted a loss of 29 cents per share for the last three months of the year, significantly below estimates of a loss of 14 cents per share.
Revenue declined 13% year-over-year to $5.85 million, while analysts were expecting revenue to increase 20% to $8.07 million for the quarter.
Research and development expenses jumped 128% to $75.9 million during the quarter, driven by costs related to the start of Phase 3 trials for the respiratory syncytial virus vaccine.
Novavax expects to release data from the study in the third quarter of 2016.
Separately, Novavax has a "sell" rating and a letter grade of D at TheStreet Ratings because of the company's feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, weak operating cash flow and disappointing stock performance.
You can view the full analysis from the report here: NVAX
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