NOVAVAX, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share information)
(unaudited)
Three months ended | Six months ended | |||||||||||||||||||
June 30, | June 30, | |||||||||||||||||||
2005 | 2004 | 2005 | 2004 | |||||||||||||||||
Revenues: | ||||||||||||||||||||
Net product sales | $ | 1,889 | $ | 2,656 | $ | 2,608 | $ | 4,854 | ||||||||||||
Contract research and development | 426 | 286 | 669 | 1,246 | ||||||||||||||||
Milestone and licensing fees | –– | 63 | –– | 125 | ||||||||||||||||
Total revenues | 2,315 | 3,005 | 3,277 | 6,225 | ||||||||||||||||
Operating costs and expenses: | ||||||||||||||||||||
Cost of products sold | 2,027 | 1,501 | 4,006 | 1,763 | ||||||||||||||||
Research and development | 1,377 | 1,229 | 2,599 | 4,277 | ||||||||||||||||
Selling and marketing | 1,844 | 5,556 | 5,901 | 8,330 | ||||||||||||||||
General and administrative | 2,292 | 2,059 | 4,413 | 4,091 | ||||||||||||||||
Total operating costs and expenses | 7,540 | 10,345 | 16,919 | 18,461 | ||||||||||||||||
Loss from operations | (5,225 | ) | (7,340 | ) | (13,642 | ) | (12,236 | ) | ||||||||||||
Interest expense, net | (491 | ) | (377 | ) | (960 | ) | (739 | ) | ||||||||||||
Net loss | $ | (5,716 | ) | $ | (7,717 | ) | $ | (14,602 | ) | $ | (12,975 | ) | ||||||||
Basic and diluted loss per share | $ | (.14 | ) | $ | (.22 | ) | $ | (.37 | ) | $ | (.37 | ) | ||||||||
Basic and diluted weighted average number of common shares outstanding | 39,553,876 | 34,779,657 | 39,553,876 | 34,750,944 | ||||||||||||||||
Selected Balance Sheet Data
Cash & cash equivalents | 4,442 | |||
Total current assets | 8,304 | |||
Working capital | 2,673 | |||
Total assets | 60,298 | |||
Debt | 5,808 | |||
Total stockholders’ equity | 18,694 |