Novavax Inc. shares fell 85% in after-hours trading Thursday after the vaccine company reported unfavorable results from two clinical trials.

A drug candidate known as the RSV F Vaccine didn't meet its efficacy goals, including the primary objective related to prevention of respiratory tract disease.

"We are both surprised and disappointed by the outcome" of the Resolve Phase 3 trial, the company said.

Shares recently traded at $1.29, compared with their 4 p.m. closing price of $8.34.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

September 15, 2016 17:45 ET (21:45 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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