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

ent by other companies with greater resources and visibility; our ability to enter into future collaborations with industry partners and the terms, timing and success of any such collaboration; our ability to obtain adequate financing in the future through product licensing, co-promotional arrangements, public or private equity or debt financing or otherwise; our inability to win any government contracts/grants, including from HHS BARDA, in a timely manner or if at all and other factors referenced herein.  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 www.sec.gov, including the factors discussed under the caption "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2009, as updated by our Quarterly Report on Form 10-Q for the quarter ended June 30, 2010.  These forward-looking statements speak only as of the date of this earnings release and Novavax assumes no duty to update such statements.NOVAVAX, INC.CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS(in thousands, except per share information)(unaudited)Three Months EndedNine Months EndedSeptember 30,September 30,2010200920102009Revenue$
75$
201$
292$
251Operating expenses:Research and development

7,8705,25623,22614,819General and administrative

2,8443,2078,5288,661Total operating expenses

10,7148,46331,75423,480Loss from operations

(10,539)(8,262)(31,462)(23,229)Interest income (expense), net

4840132(544)Other income

136-136-Impairment of short-term investments

---(1,338)Realized gains on short-term investments

-692-692Net loss$  (10,355)$   (7,530)$  (31,194)$   (24,419)Basic and diluted net loss per share

$
(0.10)$
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SOURCE Novavax, Inc.
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