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NOVAVAX Reports Third Quarter 2010 Financial Results
Date:11/5/2010

aredness.  Novavax is currently awaiting a final decision on the proposal;
  • received a key U.S. patent covering the use of influenza gene sequences for high-yield production of influenza VLP vaccines to protect against current and future seasonal and pandemic influenza strains;
  • appointed Dr. Richard Douglas to the company's board of directors.  Dr. Douglas is currently Senior Vice President, Corporate Development at Genzyme Corp.; and
  • named Dr. Gregory Glenn as the company's Chief Scientific Officer.  Previously, Dr. Glenn was Chief Scientific Officer and founder of IOMAI Corporation (now Intercell), an associate in international health at Johns Hopkins University's School of Public Health and a clinical and basic research scientist at Walter Reed Army Institute of Research.

  • "We had a productive third quarter during which we continued to develop our pipeline, prepared for a possible government contract, attracted talented executives and strengthened our patent estate," said Dr. Rahul Singhvi, President and CEO of Novavax.  "We were pleased to submit our final proposal for the HHS BARDA vaccine development contract in September and are awaiting their decision on that potential opportunity. In the RSV area, we filed our IND in September with the U.S. Food and Drug Administration (FDA) however, we received a specific question around our chemistry, manufacturing and controls (CMC) that caused the agency to put our planned Phase I trial on clinical hold. We expect to receive the FDA's written communication detailing their concerns by the middle of November. We plan to work with the FDA to address these questions so that we can continue to move ahead with our Phase I trial as soon as possible."

    Novavax's management will host its quarterly conference call at 10:00 a.m. Eastern time today.  The live conference call will be accessible on Novavax's website at www.novavax.c
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    SOURCE Novavax, Inc.
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