What happened
In response to reporting first-quarter earnings, shares of Novavax (NASDAQ:NVAX), a clinical-stage biotech focused on vaccines, jumped 22% as of 11:25 a.m. EDT on Tuesday.
So what
Here’s a look at the key highlights from the company’s earnings release that drove today’s gains:
* Revenue grew 35% to $5.7 million as a result of BMGF grants related to the company’s ongoing phase 3 Prepare trial. This result was slightly better than the $5.69 million in revenue that Wall Street had projected.
