Navigation Links
Novavax Announces Closing of $11 Million Common Stock Sale to Subsidiary of Cadila Pharmaceuticals
Date:4/1/2009

ROCKVILLE, Md., April 1 /PRNewswire-FirstCall/ -- Novavax Inc. (Nasdaq: NVAX) announced today that it has completed the previously announced sale of 12.5 million shares of Novavax's common stock at $0.88 per share to a wholly owned subsidiary of Cadila Pharmaceuticals as part of the new strategic alliance between Novavax and Cadila. Novavax intends to use the $11 million in gross proceeds from this investment to pay a portion of its 4.75% senior convertible notes due in July 2009 and for a variety of other corporate purposes, including internal research and development programs, working capital, and other general corporate purposes.

This offering was made pursuant to an existing effective shelf registration statement and was made directly by the Company. A prospectus supplement and the accompanying base prospectus was filed with the Securities and Exchange Commission ("SEC") on March 31, 2009 and may be obtained at the SEC's website at www.sec.gov.

About Novavax

Novavax, Inc. is a clinical-stage biotechnology company creating novel vaccines to address a broad range of infectious diseases worldwide using advanced proprietary virus-like-particle (VLP) technology. The company produces these VLP-based, potent, recombinant vaccines utilizing new and efficient manufacturing approaches. Additional information about Novavax is available at www.novavax.com and in the company's various filings with the Securities and Exchange Commission.

Forward Looking Statement

Statements herein relating to future development results and performance, conditions or strategies and other matters, including expectations regarding the strategic partnership with Cadila, the establishment of a manufacturing facility in India and the development and commercialization of VLP vaccines in India, 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 relating to whether all regulatory hurdles in India for transferring the Novavax intellectual property to the joint venture in exchange for equity in the joint venture, and gaining approvals to manufacture and commercialize any product in India can be achieved; whether the joint venture will have sufficient funding to achieve its goals; whether commercialization of any product that does achieve regulatory approval would be successful in India; and whether competitive products or technologies would hamper the joint venture's ability to achieve its goals and be successful. 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 http://www.sec.gov. These forward-looking statements speak only as of the date of this press release, and Novavax assumes no duty to update forward-looking statements.


'/>"/>
SOURCE Novavax, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Novavax Reports Fourth Quarter and 2008 Year-End Financial Results
2. Novavax Announces Release Date of 2007 Fourth Quarter, Full Year Financial Results and Investor Conference Call
3. Novavax CEO to Present at the Partnering for Global Health Forum
4. Novavax CEO to Present at Susquehannas Second SIGnificant Options in Healthcare Conference
5. Novavax Announces Release Date of 2007 Third Quarter Financial Results and Investor Conference Call
6. Novavax and Allergan Terminate Manufacturing Supply Agreement for Estrasorb
7. Novavax CEO to Present at the 2007 UBS Global Life Sciences Conference
8. HealthSouth Announces Date of 2009 First Quarter Earnings Conference Call
9. Sunesis Pharmaceuticals Announces Up To $43.5 Million Financing
10. Misonix Announces New Distribution Agreement for Belgium and Luxembourg
11. Waters Corporation Announces the Purchase of UPLC/MS Systems by the National Cancer Institute for Advanced Metabolomics Research
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:8/19/2017)... ... August 19, 2017 , ... DMG Productions, producers of the ... in an upcoming episode, slated to air fourth quarter 2017. Check your local ... Group; a company committed to supporting dentistry using the most technologically advanced restorative ...
(Date:8/19/2017)... ... August 18, 2017 , ... President ... of 2017, legislation that provides for greater public access to over-the-counter (OTC) hearing ... to access OTC hearing aids without being seen by a certified and licensed ...
(Date:8/19/2017)... ... 2017 , ... Praeclarus Press has launched a new ... the diversity of the breastfeeding mothers, using bright colors and contemporary themes. These ... are also available on tote bags, notepads, smartphone cases, clocks, and travel mugs. ...
(Date:8/19/2017)... Fla. (PRWEB) , ... August 19, 2017 , ... ... Taufiq Ahmed, M.D., has joined its Orlando location as an interventional pain management ... anesthesiology, a focus on the treatment of migraine headaches, and significant experience in ...
(Date:8/18/2017)... , ... August 18, 2017 , ... More than 20,000 ... Republic of Congo (DRC) thanks to an ambitious venture that conjoined the passions of ... the generous support of the Liberty community. These shoes will save lives from the ...
Breaking Medicine News(10 mins):
(Date:8/4/2017)... ROCKVILLE, Md. , Aug. 4, 2017 ... during or shortly after a physician/patient consult has long ... industry, and was a notable focus of the largest ...  This is according to healthcare market research firm Kalorama ... of care testing (POCT) offerings or related supplies and ...
(Date:8/2/2017)... 2, 2017  Life Flight Network and PeaceHealth Oregon Network ... patient care and operational efficiency for patients at hospitals in ... Cottage Grove , and Florence, ... and Life Flight Network work collaboratively to move patients who ... when a time sensitive emergency exists. ...
(Date:7/31/2017)... 7D Surgical, developer of ground breaking surgical navigation ... Surgical System to support its strategic sales plan in ... and Virginia.  7D Surgical has entered into an exclusive sales ... medical facilities within those markets. ... Spartan Medical Purchases ...
Breaking Medicine Technology: