Navigation Links
NOVAVAX, Inc. Receives NASDAQ Non-Compliance Letter

ROCKVILLE, Md., Feb. 18 /PRNewswire-FirstCall/ -- Novavax, Inc. (Nasdaq: NVAX) announced today that it received a notice of deficiency, as expected, from the NASDAQ Stock Market (NASDAQ) listing qualifications department.  As a result of the election of Stanley C. Erck as the Executive Chairman Novavax is no longer in compliance with the NASDAQ requirement set forth in Listing Rule 5605(b)(1), which requires that the company's Board of Directors be comprised of a majority of independent directors.

Novavax has 45 days to submit a plan to NASDAQ to regain compliance.  The notification has no immediate effect on the listing of Novavax's common stock on The NASDAQ Global Market. The Company's common stock continues to trade on The NASDAQ Global Market under the symbol "NVAX".

Over recent months, the Nominating and Corporate Governance Committee of Novavax's Board of Directors has been identifying, evaluating and recruiting potential candidates for election to the Board of Directors.  Novavax expects to elect two independent directors and thus cure this non-compliance before its 2010 Annual Meeting of Stockholders.

About Novavax

Novavax, Inc. is a clinical-stage biotechnology company creating novel vaccines to address a broad range of infectious diseases worldwide, including H1N1, using advanced proprietary virus-like-particle (VLP) technology.  The company produces potent VLP-based recombinant vaccines utilizing new and efficient manufacturing approaches.  Novavax is committed to using its VLP technology to create country-specific vaccine solutions.  The company has formed a joint venture with Cadila Pharmaceuticals, named CPL Biologicals, to develop and manufacture vaccines, biological therapeutics and diagnostics in India. Additional information about Novavax is available on the company's website:

Forward Looking Statements

Statements herein relating to future performance, conditions or strategies and other business matters, including expectations regarding the timing of curing the non-compliance with Nasdaq Listing Rule 5605(b)(1) are forward-looking statements within the meaning of the Private Securities Litigation Reform Act.  Novavax cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time.  Factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including Novavax's ability to attract qualified individuals to serve on its Board of Directors, the cash and equity compensation such individuals might require to serve on the Board of Directors, and the timing of such elections.  Further information on the factors and risks that could affect Novavax's business, financial conditions and results of operations, is contained in Novavax's filings with the U.S. Securities and Exchange Commission, which are available at These forward-looking statements speak only as of the date of this Current Report on Form 8-K.

SOURCE Novavax, Inc.

Back to top



SOURCE Novavax, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine news :

1. Lake Elsinore Family Caregiver Receives Free Power Wheelchair From The SCOOTER Store
2. DaVita Receives Civil Complaint
3. Ranbaxy Receives Tentative Approval to Manufacture and Market Galantamine Tablets on an Exclusive Basis
4. Watson Receives First FDA Approval for Manufacturing Product at Its Goa, India Facility
5. Edwards Lifesciences Receives CE Mark for Edwards SAPIEN Transcatheter Heart Valve
6. PainCare Receives $14.4 Million in Cash From Completed Sale of South Florida Ambulatory Surgery Centers
7. UT Southwesterns obesity research receives $22 million NIH Roadmap grant
8. Temple Emergency Medicine receives $1.8M to find best MRSA treatment
9. Prime Therapeutics Receives TIPPS Certification
10. Bioniche Receives $2 Million Government Grant For Market Development Related to its E. coli O157:H7 Cattle Vaccine
11. UCLA receives $22.5 million to explore the fundamental biology of mental disorders
Post Your Comments:
(Date:11/27/2015)... PITTSBURGH, PA (PRWEB) , ... November 27, 2015 ... ... of how filthy the toilets were," said an inventor from Hillside, N.J. "Many ... this improved seat cover so that individuals will always be protected from germs." ...
(Date:11/27/2015)... ... November 27, 2015 , ... Consistent with the ... 2016 Building Better Radiology Marketing Programs meeting will showcase some of the ... 2016, at Caesars Palace in Las Vegas with a pre-conference session on a ...
(Date:11/27/2015)... ... November 27, 2015 , ... CBD College is proud ... Education Programs (CAAHEP) awarded accreditation to its Diagnostic Medical Sonography program. CBD College is ... only one of twelve colleges and universities in the state of California make the ...
(Date:11/26/2015)... ... November 26, 2015 , ... Patients at Serenity Point ... come together on Thanksgiving Day to share the things that they are most ... Serenity Point YouTube channel, patients displayed what they wrote on index cards, describing ...
(Date:11/26/2015)... ... November 26, 2015 , ... Jobs in hospital medical laboratories and in ... by healthcare staffing agency Aureus Medical Group . These fields, as ... among those searching for healthcare jobs through the company’s website, , ...
Breaking Medicine News(10 mins):
(Date:11/26/2015)... -- Research and Markets ( ) has ... Horizons and Growth Strategies in the Italian Therapeutic ... Forecasts, Competitive Intelligence, Emerging Opportunities" report to ... --> This new 247-page report provides ... monitoring market, including emerging tests, technologies, instrumentation, sales ...
(Date:11/25/2015)... global healthcare industry is expected to grow at a rate ... has the highest projected growth at 12.7%, and ... is second with growth projected at 11.5%. ... 2013-2014, total government funded healthcare was nearly 68%. Federal government ... 2013-2014. In real terms, out of pocket expenditure increased by ...
(Date:11/25/2015)... , Nov. 25, 2015 AAIPharma ... planned investment of at least $15.8  Million to ... Wilmington, NC . The expansion will ... to meet the growing demands of the pharmaceutical ... site expansion will provide up to 40,000 ...
Breaking Medicine Technology: