Orlando, FL -- (SBWIRE) -- 08/22/2013 -- Hot Stock Profits provides investors and traders with valuable trading tools and content as well as micro-cap stock alerts via eMail and text messages. To Join Our Text Message Alerts Service Just Text The Word Stocks To 555888 From Your Cell Phone. Our Focus Today Is On Novavax, Inc. (NASDAQ:NVAX), Inovio Pharmaceuticals Inc (NYSEMKT:INO).
Novavax, Inc.(NASDAQ:NVAX) has reported its financial results for the second quarter and also for the six months ended June 30, 2013.
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The company posted a net loss of $12.6 million, or $0.08 per share, against a net loss of $5.9 million, or $0.05 per share. For the six months ended June 30, 2013, the net loss was $22.6 million, or $0.15 per share. This is comparable to a net loss of $13.3 million, or $0.11 per share, in the year-ago period.
Revenue stood at $3.5 million versus $7.1 million in the prior-year quarter. Research and development expenses jumped to $10.8 million, against $5.4 million last year. General and administrative expenses soared to $4.0 million compared to $2.5 million last year.
The company had $40.6 million in cash and cash equivalents and investments against $50.3 million as of December 31, 2012. Net cash used in operating activities for the six months this year was $18.2 million. This is comparable with $10.3 million for the same period in 2012.
Novavax hosted its quarterly conference call today on Aug. 12. The replay is available as a webcast on the "Investor Info"/"Events" on the Novavax website.
Meanwhile, Inovio Pharmaceuticals Inc(NYSEMKT:INO), also a company in the pharma space, has reported its results for the 2nd quarter. Revenue stood at $786,000 compared to $436,000 in the year-ago period. It posted a loss of $0.06 per share versus a loss of $0.03 per-share in the prior-year quarter. Although operating expenses dropped 10%, the company took a charge related to its stock warrants thanks to significant appreciation in share price, pushing up losses. Inovio had reported sale of 4.2 million shares under its at-the-market sales agreement at the end of last quarter and exercised warrants to purchase almost 5.3 million shares.
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