by the Varicella Zoster Virus, expanding our vaccine product pipeline
-- Continued progress in building a GMP pilot-plant facility at our
Rockville, Maryland headquarters to allow manufacturing of Phase I-III
clinical supplies of our VLP vaccine candidates.
-- Announced in conjunction with Allergan the wind down of manufacturing
of the production of Estrasorb (R). Estrasorb (R) was acquired by
Allergan as a result of their acquisition of Esprit Pharma in October
Some of the key milestones anticipated during the fourth quarter of 2007 are:
-- The announcement of a fourth vaccine candidate.
-- Pre-clinical results for our trivalent seasonal flu VLP vaccine
-- Completion of construction of our GMP pilot manufacturing facility for
production of our VLP vaccine candidates.
-- Scheduled results from our Phase I/IIa H5N1 pandemic flu vaccine trial.
Third Quarter Financial Results
Revenues for the third quarter ended September 30, 2007 were $1.3 million, an increase of $0.1 million over the $1.2 million reported in the comparable 2006 period. Revenues consist of ESTRASORB(R) sales and royalties paid by Esprit Pharma, Inc. of $0.5 million as well as contract research and development revenues of $0.7 million in the third quarter of 2007 as compared to $0.6 million of research and development revenues for the same period in 2006).
Cost of products sold for the three-month period ended September 30,
2007 was $1.1 million as compared to $1.2 million for the same period in
2006. Included in the cost of products sold was $0.6 million in idle
capacity costs at our manufacturing facility compared to $0.7 million of
such costs in the comparable 2006 quarter. The company also incurred $0.8
million in excess inventory costs over market for the third quarter as
compared to $0.3 million in the comparable 2006 period, which r
|SOURCE Novavax Inc.|
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