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Novavax (NVAX) Stock Dropping as Q2 Results Miss Expectations

NEW YORK (TheStreet) -- Shares of Novavax (NVAX) were falling 7.73% to $6.99 on heavy trading volume early Wednesday afternoon after the company posted a wider loss than analysts had expected for the 2016 second quarter.

After yesterday's market close, the clinical-stage vaccine company reported a net loss of 29 cents per share, while Wall Street was looking for a loss of 25 cents per share.

Revenue for the period was $2.5 million, below analysts' estimates of $8 million. Revenue...