Biopharmaceutical company Novavax Inc. said Tuesday its third-quarter loss widened on higher costs for developing its flu vaccine program.

The company lost $5 million, or 8 cents per share, compared with a loss of $2.7 million, or 6 cents per share, a year ago. Analysts polled by Thomson Financial expected a loss of 11 cents per share.

Revenue dipped to $1.2 million from $1.9 million a year ago, while analysts expected revenue of $700,000.

Costs rose to $6.9 million from $4.1 million. The increase came as the company ramped up development of its VLP, or virus-like particle-based, flu vaccines. In July, the company received positive news from researchers that the developing vaccine could protect from influenza after only one dose. The results were part of preclinical trials.

The company is working with the Food and Drug Administration to design studies to test the vaccine in humans.

Shares of Novavax rose 7 cents to $5.02 in premarket trading on the INET electronic exchange.