On Thursday, Shares of Novavax, Inc.(NASDAQ:NVAX), subtract -17.65% and closed at $1.40 in the last trading session. The last trading range of the stock ranges between $1.32 and $1.53. The company’s Market capitalization is $445.12 million with the total Outstanding Shares of 271.24 million. Novavax, Inc., (NVAX) recently declared its financial results for the third quarter and nine months ended September 30, 2016, in conjunction with its Shareholder and Analyst Day update.
The Company presented a restructuring plan designed to meet the following key objectives:
Prioritize development activities to achieve clinical data events within 2017;
Reduce cash burn, extend financial horizon and minimize near-term dilution; and
Maintain operational core competencies to execute development plans.
The restructuring includes an immediate reduction in workforce of about 30%. The Company anticipates to incur one-time restructuring costs of about $3 million to $4 million, counting severance expenses, in the fourth quarter of 2016. In addition, administration has initiated expense reduction measures regardingpre-commercialization activities, capital equipment investments, project specific and general research and development, and general and administrative expenses. As a result of the restructuring, Novavax estimates a reduction in cash burn of $70 million to $100 million in 2017 relative to 2016.
Technical Analysis: During the 52-week trading session the minimum price at which share price traded, registered at $1.16 and reached to max level of $9.23. The EPS of company is strolling at -0.99.
Shares of Fitbit Inc (NYSE:FIT), jumped 3.75% and closed at $8.86 in the last trading session. The last trading range of the stock ranges between $8.40 and $9.27. The company’s Market capitalization is $1.95 Billion with the total Outstanding Shares of 223.75 million. Fitbit (FIT) has not received any communication from ABM Capital, or any other firm, regarding a stated offer. As the leader in the connected health and fitness market, we remain focused on delivering innovative products consumers love and are confident in our vision for the future.
Technical Analysis: During the 52-week trading session the minimum price at which share price traded, registered at $8.32 and reached to max level of $36.34. The EPS of company is strolling at 0.41.