US Stock Market Move | Lowering full year revenue guidance, Novavax, Inc. (NVAX.US) drops more than 10% in pre-market trading.

On Tuesday, Novavax, Inc. (NVAX.US) fell more than 10% in pre-market trading, to $8.10. On the news front, the company had previously lowered its full-year guidance, offsetting the positive news of a smaller-than-expected loss in the third quarter and better-than-expected revenue. The company reported a net loss of $121.3 million for the quarter, or 76 cents per share, smaller than the $130.8 million net loss, or $1.26 per share, in the same period last year. The company lowered its full-year performance guidance, now expecting revenue in the range of $6.5 billion to $7 billion, lower than the previous guidance of $7 billion to $8 billion; and expects product sales to be between $175 million and $225 million, lower than the previous guidance of $275 million to $375 million.