Vaccine maker Novavax Inc. on Monday reported a narrower fourth-quarter loss as research and other expenses fell.
Novavax is testing vaccines for flu strains including swine flu, and other respiratory diseases.
Novavax said it lost $6.3 million, or 6 cents per share, compared with a loss of $10.3 million, or 11 cents per share, a year ago. Revenue fell to $51,000 from $75,000.
Analysts polled by FactSet expected a larger loss of 9 cents per share.
Operating expenses fell 50 percent to $7.1 million.
For the full year, the company lost $35.7 million, or 34 cents per share, compared with a loss of $40.3 million, or 47 cents per share, in 2009. Revenue rose to $343,000 from $325,000.
Its shares rose 9 cents, or 3.6 percent, to $2.51 in pre-market trading.