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Novavax Reports First Quarter 2008 Financial Results
Date:5/9/2008

7,678 8,300

Loss from continuing operations before

interest (7,220) (7,839)

Interest income, net 117 604

Loss from continuing operations (7,103) (7,235)

Loss from discontinued operations (652) (1,153)

Net loss $ (7,755) $ (8,388)

Basic and diluted loss per share:

Loss per share from continuing

operations $ (0.12) $ (0.12)

Loss per share from discontinued

operations (0.01) (0.02)

Net loss per share (0.13) (0.14)

Basic and diluted weighted average number

of common shares outstanding 61,280,155 61,221,075

SELECTED BALANCE SHEET DATA

(in thousands)

As of March 31,

2008 As of December 31,

(unaudited) 2007

Cash and cash equivalents $ 14,702 $ 4,350

Short-term investments 26,191 42,139

Total current assets 43,036 49,016

Working capital 34,711 42,810

Total assets 86,221 91,291

Long term debt 21,711 21,629

Stockholders' equity 55,795 63,065


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SOURCE Novavax, Inc.
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