$NVAX
NOVAVAX INC Stock $nvax

$nvax Overview Financials Valuation SEC Filings Company Website

2012 Q3 Form 10-Q Financial Statement

#000114420412044027 Filed on August 09, 2012

Income Statement

Concept	2012 Q3	2012 Q2	2011 Q2
Revenue	$5.765M	$7.103M	$3.001M
YoY Change	15.12%	136.69%
Cost Of Revenue	$3.838M	$5.118M	$1.231M
YoY Change	75.25%	315.76%
Gross Profit	$1.927M	$1.985M	$1.770M
YoY Change	-31.62%	12.15%
Gross Profit Margin	33.43%	27.95%	58.98%
Selling, General & Admin	$2.100M	$2.500M	$3.300M
YoY Change	-22.22%	-24.24%	6.45%
% of Gross Profit	108.98%	125.94%	186.44%
Research & Development	$6.642M	$5.371M	$4.353M
YoY Change	64.04%	23.39%	-30.9%
% of Gross Profit	344.68%	270.58%	245.93%
Depreciation & Amortization	$400.0K	$400.0K	$400.0K
YoY Change	0.0%	0.0%	33.33%
% of Gross Profit	20.76%	20.15%	22.6%
Operating Expenses	$6.642M	$5.371M	$4.353M
YoY Change	64.04%	23.39%	-54.18%
Operating Profit	-$6.849M	-$5.855M	-$5.921M
YoY Change	72.61%	-1.11%
Interest Expense	$6.000K	$3.000K	$2.000K
YoY Change	200.0%	50.0%	-99.67%
% of Operating Profit
Other Income/Expense, Net	$0.00	$0.00
YoY Change
Pretax Income	-$7.217M	-$5.920M	-$4.581M
YoY Change	124.69%	29.23%	-48.53%
Income Tax			$412.0K
% Of Pretax Income
Net Earnings	-$7.217M	-$5.920M	-$4.993M
YoY Change	124.69%	18.57%	-43.9%
Net Earnings / Revenue	-125.19%	-83.35%	-166.38%
Basic Earnings Per Share
Diluted Earnings Per Share	-$1.075M	-$855.1K	-$892.9K
COMMON SHARES
Basic Shares Outstanding	133.7M shares	122.2M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2012 Q3	2012 Q2	2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments	$28.40M	$26.50M	$22.30M
YoY Change	44.9%	18.83%	-16.79%
Cash & Equivalents	$10.74M	$15.33M	$13.09M
Short-Term Investments	$17.70M	$11.20M	$9.200M
Other Short-Term Assets	$235.0K	$261.0K	$2.200M
YoY Change	-91.61%	-88.14%	340.0%
Inventory
Prepaid Expenses	$2.807M	$2.452M
Receivables	$2.469M	$1.498M	$3.900M
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$36.48M	$34.98M	$28.40M
YoY Change	38.72%	23.16%	2.9%
LONG-TERM ASSETS
Property, Plant & Equipment	$9.815M	$7.753M	$7.600M
YoY Change	30.87%	2.01%	-6.17%
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	$44.06M	$42.00M	$40.90M
YoY Change	8.0%	2.69%	-0.97%
TOTAL ASSETS
Total Short-Term Assets	$36.48M	$34.98M	$28.40M
Total Long-Term Assets	$44.06M	$42.00M	$40.90M
Total Assets	$80.55M	$76.98M	$69.30M
YoY Change	20.04%	11.08%	0.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$2.203M	$3.380M	$3.000M
YoY Change	-8.21%	12.67%	-11.76%
Accrued Expenses	$6.031M	$5.633M	$3.100M
YoY Change	54.64%	81.71%	-32.61%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$200.0K	$0.00	$100.0K
YoY Change		-100.0%	0.0%
Total Short-Term Liabilities	$10.44M	$9.422M	$9.000M
YoY Change	55.84%	4.69%	5.88%
LONG-TERM LIABILITIES
Long-Term Debt	$1.000M	$400.0K	$300.0K
YoY Change	233.33%	33.33%	-25.0%
Other Long-Term Liabilities	$7.700M	$6.100M	$3.800M
YoY Change	42.59%	60.53%	52.0%
Total Long-Term Liabilities	$8.700M	$6.500M	$4.100M
YoY Change	52.63%	58.54%	41.38%
TOTAL LIABILITIES
Total Short-Term Liabilities	$10.44M	$9.422M	$9.000M
Total Long-Term Liabilities	$8.700M	$6.500M	$4.100M
Total Liabilities	$19.17M	$15.90M	$13.10M
YoY Change	53.36%	21.36%	14.91%
SHAREHOLDERS EQUITY
Retained Earnings	-$350.1M	-$342.9M
YoY Change
Common Stock	$1.360M	$1.326M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)	$2.450M	$2.450M
YoY Change
Treasury Stock Shares	$455.4K	455.4K shares
Shareholders Equity	$61.38M	$61.08M	$56.30M
YoY Change
Total Liabilities & Shareholders Equity	$80.55M	$76.98M	$69.30M
YoY Change	20.04%	11.08%	0.58%

Cashflow Statement

Concept	2012 Q3	2012 Q2	2011 Q2
OPERATING ACTIVITIES
Net Income	-$7.217M	-$5.920M	-$4.993M
YoY Change	124.69%	18.57%	-43.9%
Depreciation, Depletion And Amortization	$400.0K	$400.0K	$400.0K
YoY Change	0.0%	0.0%	33.33%
Cash From Operating Activities	-$4.700M	-$6.100M	-$8.400M
YoY Change	38.24%	-27.38%	-9.68%
INVESTING ACTIVITIES
Capital Expenditures	-$1.100M	-$300.0K	-$200.0K
YoY Change	450.0%	50.0%
Acquisitions
YoY Change
Other Investing Activities	-$6.200M	-$4.200M	$6.300M
YoY Change	-258.97%	-166.67%	600.0%
Cash From Investing Activities	-$7.300M	-$4.500M	$6.100M
YoY Change	-302.78%	-173.77%	662.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	7.400M	12.10M	7.000M
YoY Change	722.22%	72.86%	105.88%
NET CHANGE
Cash From Operating Activities	-4.700M	-6.100M	-8.400M
Cash From Investing Activities	-7.300M	-4.500M	6.100M
Cash From Financing Activities	7.400M	12.10M	7.000M
Net Change In Cash	-4.600M	1.500M	4.700M
YoY Change	-518.18%	-68.09%	-192.16%
FREE CASH FLOW
Cash From Operating Activities	-$4.700M	-$6.100M	-$8.400M
Capital Expenditures	-$1.100M	-$300.0K	-$200.0K
Free Cash Flow	-$3.600M	-$5.800M	-$8.200M
YoY Change	12.5%	-29.27%	-11.83%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
CY2011Q1	us-gaap	Government Contract Receivable GovernmentContractReceivable	179000000
CY2011Q4	nvax	Operating Lease Facility Area OperatingLeaseFacilityArea	74000	sqft
CY2012Q3	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	133675921	shares
CY2008Q3	us-gaap	Share Price SharePrice	2.68
CY2008Q3	nvax	Share Of Common Stock Issuable With Each New Class Of Warrant Or Right ShareOfCommonStockIssuableWithEachNewClassOfWarrantOrRight	0.5	shares
CY2011Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	13092000
CY2012Q2	us-gaap	Goodwill Goodwill	33141000
CY2012Q2	us-gaap	Other Assets Current OtherAssetsCurrent	261000
CY2012Q2	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	350000
CY2012Q2	us-gaap	Stockholders Equity StockholdersEquity	61079000
CY2012Q2	us-gaap	Available For Sale Securities Amortized Cost AvailableForSaleSecuritiesAmortizedCost	10262000
CY2012Q2	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2012Q2	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized	3900000
CY2012Q2	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1	400000
CY2012Q2	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	200000000	shares
CY2012Q2	us-gaap	Treasury Stock Shares TreasuryStockShares	455430	shares
CY2012Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue	1500000
CY2012Q2	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	132152221	shares
CY2012Q2	us-gaap	Government Contract Receivable Unbilled Amounts GovernmentContractReceivableUnbilledAmounts	4231000
CY2012Q2	us-gaap	Liabilities Liabilities	15898000
CY2012Q2	us-gaap	Accounts Payable Current AccountsPayableCurrent	3380000
CY2012Q2	us-gaap	Available For Sale Securities Current AvailableForSaleSecuritiesCurrent	11202000
CY2012Q2	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	2452000
CY2012Q2	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	2000000	shares
CY2012Q2	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-342912000
CY2012Q2	us-gaap	Assets Assets	76977000
CY2012Q2	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	1498000
CY2012Q2	us-gaap	Availableforsale Securities Gross Unrealized Gain AvailableforsaleSecuritiesGrossUnrealizedGain	940000
CY2012Q2	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2012Q2	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	76977000
CY2012Q2	us-gaap	Treasury Stock Value TreasuryStockValue	2450000
CY2012Q2	us-gaap	Restricted Cash And Cash Equivalents Noncurrent RestrictedCashAndCashEquivalentsNoncurrent	755000
CY2012Q2	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	15334000
CY2012Q2	us-gaap	Available For Sale Securities Gross Unrealized Losses1 AvailableForSaleSecuritiesGrossUnrealizedLosses1
CY2012Q2	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	132607651	shares
CY2012Q2	us-gaap	Long Term Notes Payable LongTermNotesPayable	400000
CY2012Q2	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	940000
CY2012Q2	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	5633000
CY2012Q2	us-gaap	Deferred Rent Credit Current DeferredRentCreditCurrent	409000
CY2012Q2	us-gaap	Liabilities Current LiabilitiesCurrent	9422000
CY2012Q2	us-gaap	Common Stock Value CommonStockValue	1326000
CY2012Q2	us-gaap	Deferred Rent Credit Noncurrent DeferredRentCreditNoncurrent	3208000
CY2012Q2	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2012Q2	us-gaap	Deferred Revenue Noncurrent DeferredRevenueNoncurrent	2500000
CY2012Q2	us-gaap	Assets Current AssetsCurrent	34978000
CY2012Q2	us-gaap	Derivative Liabilities Noncurrent DerivativeLiabilitiesNoncurrent	368000
CY2012Q2	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding		shares
CY2012Q2	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued		shares
CY2012Q2	us-gaap	Preferred Stock Value PreferredStockValue
CY2012Q2	us-gaap	Class Of Warrant Or Right Exercise Price Of Warrants Or Rights ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights	3.62
CY2012Q2	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	7753000
CY2012Q2	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	404175000
CY2012Q2	us-gaap	Available For Sale Securities Fair Value Disclosure AvailableForSaleSecuritiesFairValueDisclosure	11202000
CY2012Q2	nvax	Common Stock Issuable Upon Exercise Of Warrants CommonStockIssuableUponExerciseOfWarrants	3343325	shares
CY2011Q4	us-gaap	Additional Paid In Capital AdditionalPaidInCapital	383948000
CY2011Q4	us-gaap	Available For Sale Securities Fair Value Disclosure AvailableForSaleSecuritiesFairValueDisclosure	4205000
	us-gaap	Costs And Expenses CostsAndExpenses	17186000
	us-gaap	Operating Income Loss OperatingIncomeLoss	-13351000
	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	168000
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	8280000
	us-gaap	Contracts Revenue ContractsRevenue	3835000
CY2010Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	8061000
CY2011Q4	us-gaap	Goodwill Goodwill	33141000
CY2011Q4	us-gaap	Notes Payable Current NotesPayableCurrent	20000
CY2011Q4	us-gaap	Other Assets Current OtherAssetsCurrent	1558000
CY2011Q4	us-gaap	Other Assets Noncurrent OtherAssetsNoncurrent	469000
CY2011Q4	us-gaap	Stockholders Equity StockholdersEquity	53849000
CY2011Q4	us-gaap	Available For Sale Securities Amortized Cost AvailableForSaleSecuritiesAmortizedCost	3373000
CY2011Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2011Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	200000000	shares
CY2011Q4	us-gaap	Treasury Stock Shares TreasuryStockShares	455430	shares
CY2011Q4	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	117025437	shares
CY2011Q4	us-gaap	Government Contract Receivable Unbilled Amounts GovernmentContractReceivableUnbilledAmounts	1836000
CY2011Q4	us-gaap	Liabilities Liabilities	12727000
CY2011Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	2645000
CY2011Q4	us-gaap	Available For Sale Securities Current AvailableForSaleSecuritiesCurrent	4205000
CY2011Q4	us-gaap	Prepaid Expense Current PrepaidExpenseCurrent	2441000
CY2011Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	2000000	shares
CY2011Q4	us-gaap	Retained Earnings Accumulated Deficit RetainedEarningsAccumulatedDeficit	-329656000
CY2011Q4	us-gaap	Assets Assets	66576000
CY2011Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	1965000
CY2011Q4	us-gaap	Availableforsale Securities Gross Unrealized Gain AvailableforsaleSecuritiesGrossUnrealizedGain	832000
CY2011Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2011Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	66576000
CY2011Q4	us-gaap	Treasury Stock Value TreasuryStockValue	2450000
CY2011Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	14104000
CY2011Q4	us-gaap	Available For Sale Securities Gross Unrealized Losses1 AvailableForSaleSecuritiesGrossUnrealizedLosses1
CY2011Q4	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	117480867	shares
CY2011Q4	us-gaap	Long Term Notes Payable LongTermNotesPayable	300000
CY2011Q4	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	832000
CY2011Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	4528000
CY2011Q4	us-gaap	Deferred Rent Credit Current DeferredRentCreditCurrent	386000
CY2011Q4	us-gaap	Liabilities Current LiabilitiesCurrent	7579000
CY2011Q4	us-gaap	Common Stock Value CommonStockValue	1175000
CY2011Q4	us-gaap	Deferred Rent Credit Noncurrent DeferredRentCreditNoncurrent	1980000
CY2011Q4	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2011Q4	us-gaap	Deferred Revenue Noncurrent DeferredRevenueNoncurrent	2500000
CY2011Q4	us-gaap	Assets Current AssetsCurrent	26109000
CY2011Q4	us-gaap	Derivative Liabilities Noncurrent DerivativeLiabilitiesNoncurrent	368000
CY2011Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding		shares
CY2011Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued		shares
CY2011Q4	us-gaap	Preferred Stock Value PreferredStockValue
CY2011Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	6857000
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-12308000
	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	34000
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0.00	pure
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum	0.0083	pure
	us-gaap	Share Based Compensation ShareBasedCompensation	1135000
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	-3808000
	us-gaap	Payments To Acquire Productive Assets PaymentsToAcquireProductiveAssets	178000
	us-gaap	Proceeds From Sale And Maturity Of Available For Sale Securities ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities	15375000
	us-gaap	Gain Loss On Derivative Instruments Net Pretax GainLossOnDerivativeInstrumentsNetPretax	1237000
	us-gaap	Increase Decrease In Unbilled Receivables IncreaseDecreaseInUnbilledReceivables	2020000
	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.11
	us-gaap	Investment Income Net InvestmentIncomeNet	84000
	us-gaap	Contract Revenue Cost ContractRevenueCost	1574000
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	788000
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	115000
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-17439000
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	14115000
	us-gaap	Increase Decrease In Deferred Revenue IncreaseDecreaseInDeferredRevenue	2500000
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	5031000
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum	0.7328	pure
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	6188000
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	636000
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	1778000
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	-12034000
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	9424000
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	8355000
	us-gaap	Payments To Acquire Available For Sale Securities PaymentsToAcquireAvailableForSaleSecurities	1082000
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum	0.8048	pure
	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	200000
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	1135000
	us-gaap	Accretion Amortization Of Discounts And Premiums Investments AccretionAmortizationOfDiscountsAndPremiumsInvestments	-231000
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	112009000	shares
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum	0.0191	pure
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	11290256	shares
	us-gaap	Net Income Loss NetIncomeLoss	-12446000
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	412000
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	138000
	us-gaap	Proceeds From Repayments Of Notes Payable ProceedsFromRepaymentsOfNotesPayable	-40000
	us-gaap	Interest Expense InterestExpense	4000
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	1.23
	dei	Trading Symbol TradingSymbol	NVAX
	dei	Entity Registrant Name EntityRegistrantName	NOVAVAX INC
	dei	Amendment Flag AmendmentFlag	false
	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q2
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2012
	dei	Document Type DocumentType	10-Q
	dei	Document Period End Date DocumentPeriodEndDate	2012-06-30
	dei	Entity Central Index Key EntityCentralIndexKey	0001000694
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	us-gaap	Costs And Expenses CostsAndExpenses	25067000
	us-gaap	Operating Income Loss OperatingIncomeLoss	-13322000
	us-gaap	Other Noncash Income Expense OtherNoncashIncomeExpense	-251000
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	20023000
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1	P5Y6M
	us-gaap	Contracts Revenue ContractsRevenue	11745000
	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-13148000
	us-gaap	Capital Expenditures Incurred But Not Yet Paid CapitalExpendituresIncurredButNotYetPaid	278000
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0.00	pure
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum	0.0059	pure
	us-gaap	Share Based Compensation ShareBasedCompensation	1176000
	us-gaap	Increase Decrease In Accounts Payable And Accrued Liabilities IncreaseDecreaseInAccountsPayableAndAccruedLiabilities	1562000
	us-gaap	Payments To Acquire Productive Assets PaymentsToAcquireProductiveAssets	1076000
	us-gaap	Proceeds From Sale And Maturity Of Available For Sale Securities ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities	2500000
	us-gaap	Increase Decrease In Other Noncurrent Liabilities IncreaseDecreaseInOtherNoncurrentLiabilities	1000000
	us-gaap	Proceeds From Sale Of Property Plant And Equipment ProceedsFromSaleOfPropertyPlantAndEquipment	167000
	us-gaap	Gain Loss On Derivative Instruments Net Pretax GainLossOnDerivativeInstrumentsNetPretax	0
	us-gaap	Increase Decrease In Unbilled Receivables IncreaseDecreaseInUnbilledReceivables	2395000
	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.11
	us-gaap	Investment Income Net InvestmentIncomeNet	72000
	us-gaap	Contract Revenue Cost ContractRevenueCost	8903000
	us-gaap	Depreciation And Amortization DepreciationAndAmortization	810000
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	26000
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-10346000
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-7798000
	us-gaap	Proceeds From Repayments Of Restricted Cash Financing Activities ProceedsFromRepaymentsOfRestrictedCashFinancingActivities	-755000
	us-gaap	Cash And Cash Equivalents Period Increase Decrease CashAndCashEquivalentsPeriodIncreaseDecrease	1230000
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum	0.7547	pure
	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	5910000
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	-58000
	us-gaap	Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1 EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1	P1Y8M12D
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	-467000
	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	-13256000
	us-gaap	Nature Of Operations NatureOfOperations	<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 – Organization</p> <p style="TEXT-INDENT: 0in; MARGIN: 0pt 0px; FONT: bold 10pt Times New Roman, Times, Serif">  </p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> Novavax, Inc. (the “Company”) is a clinical-stage biopharmaceutical company focused on developing novel recombinant vaccines to address a broad range of infectious diseases. The Company’s goal is to become a profitable vaccine company that is aggressively driving towards development, licensure and commercialization of important vaccines worldwide. The Company’s technology platform is based on proprietary recombinant vaccine technology that includes virus-like particles (“VLPs”) 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’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 (“RSV”).</p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif">  </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. The Company accounts for its investment in the joint venture using the equity method.</p> </div>
	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	10254000
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	19374000
	us-gaap	Payments To Acquire Available For Sale Securities PaymentsToAcquireAvailableForSaleSecurities	9389000
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum	0.8048	pure
	us-gaap	Payments Of Stock Issuance Costs PaymentsOfStockIssuanceCosts	300000
	us-gaap	Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2 SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2	P7Y10M24D
	us-gaap	Gain Loss On Sale Of Property Plant Equipment GainLossOnSaleOfPropertyPlantEquipment	19000
	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	1176000
	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	123741000	shares
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum	0.0154	pure
	us-gaap	Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount	13110708	shares
	us-gaap	Net Income Loss NetIncomeLoss	-13256000
	us-gaap	Proceeds From Notes Payable ProceedsFromNotesPayable	100000
	us-gaap	Use Of Estimates UseOfEstimates	<div style="FONT: 10pt Times New Roman, Times, Serif"> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif"> <b><i>Use of Estimates</i></b></p> <p style="TEXT-ALIGN: justify; MARGIN: 0pt 0px 0pt 0.25in; FONT: 10pt Times New Roman, Times, Serif">  </p> <p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from these estimates.</p> </div>
	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	108000
	us-gaap	Proceeds From Repayments Of Notes Payable ProceedsFromRepaymentsOfNotesPayable	-20000
	us-gaap	Interest Expense InterestExpense	6000
	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	0.71
	nvax	Deposits For Acquisition Of Property And Equipment DepositsForAcquisitionOfPropertyAndEquipment	500000
	nvax	Clinical Trial Costs ClinicalTrialCosts	2400000
	nvax	Landlord Funding Of Tenant Improvements LandlordFundingOfTenantImprovements	2100000
CY2011Q1	nvax	Agreement Expiration Period AgreementExpirationPeriod	2027
CY2011Q1	nvax	Expected Clinical Trial Costs ExpectedClinicalTrialCosts	3100000
CY2011Q4	us-gaap	Lease Expiration Date1 LeaseExpirationDate1	2017-01-31
CY2011Q4	nvax	Tenant Improvement Allowance TenantImprovementAllowance	2500000
CY2011Q4	nvax	Additional Tenant Improvement Allowance AdditionalTenantImprovementAllowance	3000000
CY2011Q4	nvax	Rent Commencement Date RentCommencementDate	2014-04-01
CY2008Q3	us-gaap	Proceeds From Issuance Or Sale Of Equity ProceedsFromIssuanceOrSaleOfEquity	17500000
CY2008Q3	nvax	Units Issued During Period Units New Issues UnitsIssuedDuringPeriodUnitsNewIssues	6686650	shares
CY2008Q3	nvax	Number Of Shares Of Common Stock In Each Unit NumberOfSharesOfCommonStockInEachUnit	1	shares
CY2011Q2	us-gaap	Costs And Expenses CostsAndExpenses	8922000
CY2011Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-5921000
CY2011Q2	us-gaap	Contracts Revenue ContractsRevenue	3001000
CY2011Q2	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-4982000
CY2011Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0.00	pure
CY2011Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum	0.0083	pure
CY2011Q2	us-gaap	Gain Loss On Derivative Instruments Net Pretax GainLossOnDerivativeInstrumentsNetPretax	1304000
CY2011Q2	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.04
CY2011Q2	us-gaap	Investment Income Net InvestmentIncomeNet	38000
CY2011Q2	us-gaap	Contract Revenue Cost ContractRevenueCost	1231000
CY2011Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum	0.7328	pure
CY2011Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	3338000
CY2011Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	-4581000
CY2011Q2	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	4353000
CY2011Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum	0.8002	pure
CY2011Q2	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	703000
CY2011Q2	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	112821000	shares
CY2011Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum	0.0191	pure
CY2011Q2	us-gaap	Net Income Loss NetIncomeLoss	-4993000
CY2011Q2	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	412000
CY2011Q2	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	11000
CY2011Q2	us-gaap	Interest Expense InterestExpense	2000
CY2011Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	1.09
CY2012Q2	us-gaap	Costs And Expenses CostsAndExpenses	12958000
CY2012Q2	us-gaap	Operating Income Loss OperatingIncomeLoss	-5855000
CY2012Q2	us-gaap	Contracts Revenue ContractsRevenue	7103000
CY2012Q2	us-gaap	Comprehensive Income Net Of Tax ComprehensiveIncomeNetOfTax	-5956000
CY2012Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate	0.00	pure
CY2012Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum	0.0059	pure
CY2012Q2	us-gaap	Gain Loss On Derivative Instruments Net Pretax GainLossOnDerivativeInstrumentsNetPretax	-101000
CY2012Q2	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.05
CY2012Q2	us-gaap	Investment Income Net InvestmentIncomeNet	39000
CY2012Q2	us-gaap	Contract Revenue Cost ContractRevenueCost	5118000
CY2012Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum	0.7547	pure
CY2012Q2	us-gaap	General And Administrative Expense GeneralAndAdministrativeExpense	2664000
CY2012Q2	us-gaap	Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments	-5920000
CY2012Q2	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	5176000
CY2012Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum	0.7552	pure
CY2012Q2	us-gaap	Allocated Share Based Compensation Expense AllocatedShareBasedCompensationExpense	589000
CY2012Q2	us-gaap	Weighted Average Number Of Share Outstanding Basic And Diluted WeightedAverageNumberOfShareOutstandingBasicAndDiluted	126925000	shares
CY2012Q2	us-gaap	Net Income Loss NetIncomeLoss	-5920000
CY2012Q2	us-gaap	Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax	-36000
CY2012Q2	us-gaap	Interest Expense InterestExpense	3000
CY2012Q2	us-gaap	Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue	0.71

Files In Submission

Name	View Source	Status
0001144204-12-044027-index-headers.html	Edgar Link	pending
0001144204-12-044027-index.html	Edgar Link	pending
0001144204-12-044027.txt	Edgar Link	pending
0001144204-12-044027-xbrl.zip	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xls	Edgar Link	pending
nvax-20120630.xml	Edgar Link	completed
nvax-20120630.xsd	Edgar Link	pending
nvax-20120630_cal.xml	Edgar Link	unprocessable
nvax-20120630_def.xml	Edgar Link	unprocessable
nvax-20120630_lab.xml	Edgar Link	unprocessable
nvax-20120630_pre.xml	Edgar Link	unprocessable
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
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R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending
v319119_10q.htm	Edgar Link	pending
v319119_ex31-1.htm	Edgar Link	pending
v319119_ex31-2.htm	Edgar Link	pending
v319119_ex32-1.htm	Edgar Link	pending
v319119_ex32-2.htm	Edgar Link	pending

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$NVAX
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2012 Q3 Form 10-Q Financial Statement

#000114420412044027 Filed on August 09, 2012

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$NVAX NOVAVAX INC Stock $nvax

2012 Q3 Form 10-Q Financial Statement

#000114420412044027 Filed on August 09, 2012

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$NVAX
NOVAVAX INC Stock $nvax