$NVAX
NOVAVAX INC

2012 Q2 Form 10-Q Financial Statement

#000114420412027210 Filed on May 09, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2012 Q1 2011 Q1
Revenue $7.103M $4.642M $834.0K
YoY Change 136.69% 456.59% 734.0%
Cost Of Revenue $5.118M $3.786M $343.0K
YoY Change 315.76% 1003.79%
Gross Profit $1.985M $856.0K $491.0K
YoY Change 12.15% 74.34%
Gross Profit Margin 27.95% 18.44% 58.87%
Selling, General & Admin $2.500M $3.100M $2.900M
YoY Change -24.24% 6.9% 16.0%
% of Gross Profit 125.94% 362.15% 590.63%
Research & Development $5.371M $5.338M $5.071M
YoY Change 23.39% 5.27% -43.66%
% of Gross Profit 270.58% 623.6% 1032.79%
Depreciation & Amortization $400.0K $400.0K $400.0K
YoY Change 0.0% 0.0% 33.33%
% of Gross Profit 20.15% 46.73% 81.47%
Operating Expenses $5.371M $5.338M $5.071M
YoY Change 23.39% 5.27% -56.28%
Operating Profit -$5.855M -$7.467M -$7.430M
YoY Change -1.11% 0.5%
Interest Expense $3.000K $3.000K $2.000K
YoY Change 50.0% 50.0% -99.82%
% of Operating Profit
Other Income/Expense, Net $0.00 $0.00
YoY Change
Pretax Income -$5.920M -$7.336M -$7.500M
YoY Change 29.23% -2.19% -27.18%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$5.920M -$7.336M -$7.453M
YoY Change 18.57% -1.57% -27.64%
Net Earnings / Revenue -83.35% -158.04% -893.65%
Basic Earnings Per Share
Diluted Earnings Per Share -$855.1K -$1.159M -$1.339M
COMMON SHARES
Basic Shares Outstanding 122.2M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2012 Q2 2012 Q1 2011 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.50M $20.70M $23.90M
YoY Change 18.83% -13.39% -27.36%
Cash & Equivalents $15.33M $13.87M $8.358M
Short-Term Investments $11.20M $6.800M $15.60M
Other Short-Term Assets $261.0K $177.0K $1.700M
YoY Change -88.14% -89.59% 142.86%
Inventory
Prepaid Expenses $2.452M $2.411M
Receivables $1.498M $1.725M $3.400M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $34.98M $26.44M $29.00M
YoY Change 23.16% -8.82% -14.2%
LONG-TERM ASSETS
Property, Plant & Equipment $7.753M $7.949M $7.900M
YoY Change 2.01% 0.62% -4.82%
Goodwill $33.14M $33.14M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $350.0K $350.0K $200.0K
YoY Change 75.0% 75.0% 0.0%
Total Long-Term Assets $42.00M $42.20M $41.10M
YoY Change 2.69% 2.66% -1.2%
TOTAL ASSETS
Total Short-Term Assets $34.98M $26.44M $29.00M
Total Long-Term Assets $42.00M $42.20M $41.10M
Total Assets $76.98M $68.64M $70.10M
YoY Change 11.08% -2.09% -7.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.380M $2.959M $3.400M
YoY Change 12.67% -12.97% -38.18%
Accrued Expenses $5.633M $4.478M $4.800M
YoY Change 81.71% -6.71% 45.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $100.0K
YoY Change -100.0% -100.0% 0.0%
Total Short-Term Liabilities $9.422M $7.841M $11.10M
YoY Change 4.69% -29.36% 20.65%
LONG-TERM LIABILITIES
Long-Term Debt $400.0K $400.0K $300.0K
YoY Change 33.33% 33.33% -25.0%
Other Long-Term Liabilities $6.100M $6.100M $5.200M
YoY Change 60.53% 17.31% 100.0%
Total Long-Term Liabilities $6.500M $6.500M $5.500M
YoY Change 58.54% 18.18% 83.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.422M $7.841M $11.10M
Total Long-Term Liabilities $6.500M $6.500M $5.500M
Total Liabilities $15.90M $14.31M $16.60M
YoY Change 21.36% -13.78% 36.07%
SHAREHOLDERS EQUITY
Retained Earnings -$342.9M -$337.0M
YoY Change
Common Stock $1.326M $1.226M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.450M $2.450M
YoY Change
Treasury Stock Shares 455.4K shares 455.4K shares
Shareholders Equity $61.08M $54.32M $53.50M
YoY Change
Total Liabilities & Shareholders Equity $76.98M $68.64M $70.10M
YoY Change 11.08% -2.09% -7.03%

Cashflow Statement

Concept 2012 Q2 2012 Q1 2011 Q1
OPERATING ACTIVITIES
Net Income -$5.920M -$7.336M -$7.453M
YoY Change 18.57% -1.57% -27.64%
Depreciation, Depletion And Amortization $400.0K $400.0K $400.0K
YoY Change 0.0% 0.0% 33.33%
Cash From Operating Activities -$6.100M -$4.220M -$9.041M
YoY Change -27.38% -53.32% -3.82%
INVESTING ACTIVITIES
Capital Expenditures -$300.0K -$800.0K $0.00
YoY Change 50.0% -100.0%
Acquisitions
YoY Change
Other Investing Activities -$4.200M -$2.500M $8.000M
YoY Change -166.67% -131.25% -156.34%
Cash From Investing Activities -$4.500M -$3.270M $7.985M
YoY Change -173.77% -140.95% -153.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $7.923M $1.317M
YoY Change 501.59% 1217.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 12.10M $7.259M 1.353M
YoY Change 72.86% 436.51%
NET CHANGE
Cash From Operating Activities -6.100M -$4.220M -9.041M
Cash From Investing Activities -4.500M -$3.270M 7.985M
Cash From Financing Activities 12.10M $7.259M 1.353M
Net Change In Cash 1.500M -$231.0K 297.0K
YoY Change -68.09% -177.78% -101.23%
FREE CASH FLOW
Cash From Operating Activities -$6.100M -$4.220M -$9.041M
Capital Expenditures -$300.0K -$800.0K $0.00
Free Cash Flow -$5.800M -$3.420M -$9.041M
YoY Change -29.27% -62.17% 3.92%

Facts In Submission

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CY2012Q1 dei Document Fiscal Period Focus
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CY2012Q1 dei Trading Symbol
TradingSymbol
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CY2012Q1 dei Entity Registrant Name
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CY2012Q1 dei Amendment Flag
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CY2012Q1 dei Document Type
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<div style="FONT: 10pt Times New Roman, Times, Serif"> <p style="TEXT-INDENT: 0in; MARGIN: 0pt 0px; FONT: bold 10pt Times New Roman, Times, Serif"> Note 1 &#x2013; Organization</p> <p style="TEXT-INDENT: 0in; MARGIN: 0pt 0px; FONT: bold 10pt Times New Roman, Times, Serif"> &#xA0;</p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Novavax, Inc. (the &#x201C;Company&#x201D;) is a clinical-stage biopharmaceutical company focused on developing novel recombinant vaccines to address a broad range of infectious diseases. The Company&#x2019;s goal is to become a profitable vaccine company that is aggressively driving towards development, licensure and commercialization of important vaccines worldwide. The Company&#x2019;s technology platform is based on proprietary recombinant vaccine technology that includes virus-like particles (&#x201C;VLPs&#x201D;) and recombinant nanoparticle vaccines combined with a single-use bioprocessing production system. These vaccine candidates are genetically engineered three-dimensional nanostructures that incorporate immunologically important recombinant proteins. The Company&#x2019;s product pipeline targets a variety of infectious diseases and its vaccine candidates are currently in or have completed clinical trials that target pandemic influenza (H5N1), seasonal influenza and respiratory syncytial virus (&#x201C;RSV&#x201D;).</p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> &#xA0;</p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> In 2009, the Company formed a joint venture with Cadila Pharmaceuticals Limited named CPL Biologicals Private Limited to develop and manufacture vaccines, biological therapeutics and diagnostics in India. The joint venture is owned 20% by the Company and 80% by Cadila Pharmaceuticals Limited.</p> </div>
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CY2012Q1 nvax Deposits For Acquisition Of Property And Equipment
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Files In Submission

Name View Source Status
0001144204-12-027210-index-headers.html Edgar Link pending
0001144204-12-027210-index.html Edgar Link pending
0001144204-12-027210.txt Edgar Link pending
0001144204-12-027210-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
nvax-20120331.xml Edgar Link completed
nvax-20120331.xsd Edgar Link pending
nvax-20120331_cal.xml Edgar Link unprocessable
nvax-20120331_def.xml Edgar Link unprocessable
nvax-20120331_lab.xml Edgar Link unprocessable
nvax-20120331_pre.xml Edgar Link unprocessable
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R2.htm Edgar Link pending
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