Novavax Inc., a biotechnology company that recently relocated to Rockville and has converted from a women’s health product company to a vaccine manufacturer, announced Wednesday a loss of $6.1 million during the fourth quarter of2006.
Novavax announced in December it would relocate its headquarters from Malvern, Penn., to Rockville, where it already had a small research facility. The company’s net loss for the quarter compared with a profit of $6.2 million during the fourth quarter of 2005.
Revenue for the quarter was $1.3 million, down from $2.2 million for the same time period the year before. The company formerly focused on making women’s health products, such as a hormone replacement lotion called Estrasorb, said Mariann Caprino, vice president of corporate communications for Novavax.
Near the end of 2005, the company shifted its focus to virus-like particle vaccines that treat influenza, bringing in a new management team and discontinuing some of its product lines.
Novavax’s vaccines are in various stages of clinical trials and the company hopes to have its first human clinical trial for its pandemic influenza vaccine this year, Novavax Vice President of Vaccine Research Rick Bright said during Wednesday’s conference call with investors. The company also appointed a new chairman, John Lambert, last week.
“For the first time, I think Novavax is in the position to really compete head to head with some very big companies,” outgoing CEO Gary Evans said during the call.
