Why Novavax Shares Are Falling After Hours

Novavax Inc NVAX shares are trading lower in Monday's after-hours session after the company reported worse-than-expected financial results.

Novavax reported first-quarter revenue of $704 million, which came in below the $845.2 million estimate, according to data from Benzinga Pro. The company reported quarterly earnings of $2.56 per share, which came in below the estimate of $2.69 per share. 

Novavax said the first quarter was its first profitable quarter as a commercial-stage company. The company reiterated full-year 2022 revenue guidance of $4 billion to $5 billion.

Novavax is a biotechnology company that promotes improved health globally through the discovery, development, and commercialization of innovative vaccines to prevent serious infectious diseases.

NVAX 52-Week Range: $42.13 - $277.79

The stock was down 7.06% in after-hours at $49.50 at press time.

Photo: Maryland GovPics from Flickr.