$NVAX
NOVAVAX INC

2015 Q1 Form 10-K Financial Statement

#000114420415012379 Filed on February 27, 2015

View on sec.gov

Income Statement

Concept 2015 Q1 2013 Q4 2013 Q3
Revenue $9.877M $8.748M $4.802M
YoY Change 32.36% 91.55% -16.7%
Cost Of Revenue $2.500M $2.600M $2.276M
YoY Change -17.25% 30.0% -40.7%
Gross Profit $7.377M $6.100M $2.526M
YoY Change 66.11% 134.62% 31.08%
Gross Profit Margin 74.69% 69.73% 52.6%
Selling, General & Admin $5.800M $4.100M $3.900M
YoY Change 34.88% 64.0% 85.71%
% of Gross Profit 78.62% 67.21% 154.39%
Research & Development $28.35M $16.30M $13.95M
YoY Change 95.25% 69.79% 110.0%
% of Gross Profit 384.26% 267.21% 552.18%
Depreciation & Amortization $1.300M $1.000M $600.0K
YoY Change 30.0% 100.0% 50.0%
% of Gross Profit 17.62% 16.39% 23.75%
Operating Expenses $28.35M $20.40M $13.95M
YoY Change 95.25% 68.6% 110.0%
Operating Profit -$24.31M -$14.30M -$15.28M
YoY Change 69.02% 50.53% 123.08%
Interest Expense $36.00K $0.00 $64.00K
YoY Change -30.77% -100.0% 966.67%
% of Operating Profit
Other Income/Expense, Net -$142.0K $200.0K -$10.00K
YoY Change
Pretax Income -$24.40M -$14.10M -$15.30M
YoY Change 76.68% 76.25% 112.0%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$24.37M -$14.05M -$15.30M
YoY Change 76.47% 75.68% 112.0%
Net Earnings / Revenue -246.73% -160.65% -318.62%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.017M -$1.410M -$1.821M
COMMON SHARES
Basic Shares Outstanding 239.4M shares 208.5M shares 152.7M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q1 2013 Q4 2013 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $327.7M $133.1M $146.4M
YoY Change 190.51% 201.81% 415.49%
Cash & Equivalents $215.1M $119.5M $122.5M
Short-Term Investments $112.7M $13.60M $23.90M
Other Short-Term Assets $11.50M $1.863M $365.0K
YoY Change 2181.75% 989.47% 55.32%
Inventory
Prepaid Expenses $3.044M $3.016M
Receivables $6.674M $1.911M $1.911M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $350.1M $145.0M $155.0M
YoY Change 171.66% 187.65% 324.9%
LONG-TERM ASSETS
Property, Plant & Equipment $23.97M $14.25M $13.97M
YoY Change 67.95% 24.4% 42.32%
Goodwill $52.66M $58.71M $58.76M
YoY Change -10.16% 77.14% 77.3%
Intangibles $11.20M $16.25M $16.41M
YoY Change -29.65%
Long-Term Investments
YoY Change
Other Assets $918.0K $916.0K $164.0K
YoY Change 477.36% 160.97% -53.14%
Total Long-Term Assets $88.75M $90.12M $90.05M
YoY Change -1.09% 73.53% 104.38%
TOTAL ASSETS
Total Short-Term Assets $350.1M $145.0M $155.0M
Total Long-Term Assets $88.75M $90.12M $90.05M
Total Assets $438.8M $235.1M $245.1M
YoY Change 100.75% 129.74% 204.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.742M $5.985M $3.339M
YoY Change 142.46% 85.41% 51.57%
Accrued Expenses $15.59M $10.41M $9.553M
YoY Change 89.94% 43.11% 58.4%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $877.0K $0.00
YoY Change -658.6%
Long-Term Debt Due $600.0K $1.000M $700.0K
YoY Change -40.0% 400.0% 250.0%
Total Short-Term Liabilities $28.78M $18.12M $14.26M
YoY Change 109.81% 55.22% 36.58%
LONG-TERM LIABILITIES
Long-Term Debt $300.0K $1.200M $1.900M
YoY Change -72.73% 20.0% 90.0%
Other Long-Term Liabilities $91.00K $1.763M $1.578M
YoY Change -94.17% -79.51%
Total Long-Term Liabilities $91.00K $1.763M $1.578M
YoY Change -94.17% -81.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $28.78M $18.12M $14.26M
Total Long-Term Liabilities $91.00K $1.763M $1.578M
Total Liabilities $39.14M $31.89M $28.50M
YoY Change 42.11% 44.27% 48.67%
SHAREHOLDERS EQUITY
Retained Earnings -$517.5M -$410.1M -$396.1M
YoY Change 22.06% 14.51% 13.13%
Common Stock $2.684M $2.091M $2.090M
YoY Change 27.99% 40.9% 53.68%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.450M $2.450M $2.450M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares 455.4K shares 455.4K shares 455.4K shares
Shareholders Equity $399.7M $203.2M $216.6M
YoY Change
Total Liabilities & Shareholders Equity $438.8M $235.1M $245.1M
YoY Change 100.75% 129.74% 204.27%

Cashflow Statement

Concept 2015 Q1 2013 Q4 2013 Q3
OPERATING ACTIVITIES
Net Income -$24.37M -$14.05M -$15.30M
YoY Change 76.47% 75.68% 112.0%
Depreciation, Depletion And Amortization $1.300M $1.000M $600.0K
YoY Change 30.0% 100.0% 50.0%
Cash From Operating Activities -$30.50M -$12.30M -$14.90M
YoY Change 49.28% 284.37% 217.02%
INVESTING ACTIVITIES
Capital Expenditures -$4.900M -$1.000M -$1.600M
YoY Change 444.44% -52.38% 45.45%
Acquisitions
YoY Change
Other Investing Activities $22.70M $10.20M $17.00M
YoY Change 114.15% -168.0% -374.19%
Cash From Investing Activities $17.80M $9.200M $15.40M
YoY Change 83.49% -153.49% -310.96%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $193.6M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 195.5M 100.0K 119.3M
YoY Change 16609.4% -99.63% 1512.16%
NET CHANGE
Cash From Operating Activities -30.50M -12.30M -14.90M
Cash From Investing Activities 17.80M 9.200M 15.40M
Cash From Financing Activities 195.5M 100.0K 119.3M
Net Change In Cash 182.8M -3.000M 119.8M
YoY Change -2012.13% -145.45% -2704.35%
FREE CASH FLOW
Cash From Operating Activities -$30.50M -$12.30M -$14.90M
Capital Expenditures -$4.900M -$1.000M -$1.600M
Free Cash Flow -$25.60M -$11.30M -$13.30M
YoY Change 31.07% 927.27% 269.44%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2014 us-gaap Use Of Estimates
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CY2014 us-gaap Prior Period Reclassification Adjustment Description
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Assets
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7510000 USD
CY2013Q4 us-gaap Government Contract Receivable Unbilled Amounts
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4988000 USD
CY2014Q4 us-gaap Government Contract Receivable Unbilled Amounts
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3100000 USD
CY2013Q4 us-gaap Assets Current
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145001000 USD
CY2014Q4 us-gaap Assets Current
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188158000 USD
CY2013Q4 us-gaap Property Plant And Equipment Net
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14251000 USD
CY2013Q4 us-gaap Accounts Payable Current
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5985000 USD
CY2014Q4 us-gaap Accounts Payable Current
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12908000 USD
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10411000 USD
CY2014Q4 us-gaap Accrued Liabilities Current
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19397000 USD
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877000 USD
CY2014Q4 us-gaap Notes Payable Current
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603000 USD
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470000 USD
CY2014Q4 us-gaap Deferred Rent Credit Current
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1138000 USD
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18122000 USD
CY2014Q4 us-gaap Liabilities Current
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34116000 USD
CY2013Q4 us-gaap Deferred Revenue Noncurrent
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2500000 USD
CY2014Q4 us-gaap Deferred Revenue Noncurrent
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2500000 USD
CY2013Q4 us-gaap Long Term Notes Payable
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1004000 USD
CY2014Q4 us-gaap Long Term Notes Payable
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395000 USD
CY2013Q4 us-gaap Deferred Rent Credit Noncurrent
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8502000 USD
CY2014Q4 us-gaap Deferred Rent Credit Noncurrent
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7734000 USD
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1763000 USD
CY2014Q4 us-gaap Other Liabilities Noncurrent
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1639000 USD
CY2013Q4 us-gaap Liabilities
Liabilities
31891000 USD
CY2014Q4 us-gaap Liabilities
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46384000 USD
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-6605000 USD
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0 USD
CY2014Q4 us-gaap Commitments And Contingencies
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0 USD
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0 USD
CY2014Q4 us-gaap Preferred Stock Value
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0 USD
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2091000 USD
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2393000 USD
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612900000 USD
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729373000 USD
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-410146000 USD
CY2014Q4 us-gaap Retained Earnings Accumulated Deficit
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-493093000 USD
CY2013Q4 us-gaap Treasury Stock Value
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2450000 USD
CY2014Q4 us-gaap Treasury Stock Value
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2450000 USD
CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
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839000 USD
CY2013Q4 us-gaap Stockholders Equity
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203234000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
229618000 USD
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235125000 USD
CY2014Q4 us-gaap Liabilities And Stockholders Equity
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276002000 USD
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-402000 USD
CY2013 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
186000 USD
CY2014 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
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-65000 USD
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OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
0 USD
CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
0 USD
CY2014 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
615000 USD
CY2012 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
0 USD
CY2013 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
223000 USD
CY2014 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-6764000 USD
CY2012 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-402000 USD
CY2013 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
409000 USD
CY2014 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-7444000 USD
CY2012 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-28909000 USD
CY2013 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-51574000 USD
CY2014 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-90391000 USD
CY2012 us-gaap Contracts Revenue
ContractsRevenue
20671000 USD
CY2013 us-gaap Contracts Revenue
ContractsRevenue
17708000 USD
CY2014 us-gaap Contracts Revenue
ContractsRevenue
26213000 USD
CY2012 nvax Research And Development Collaboration
ResearchAndDevelopmentCollaboration
1405000 USD
CY2013 nvax Research And Development Collaboration
ResearchAndDevelopmentCollaboration
3207000 USD
CY2014 nvax Research And Development Collaboration
ResearchAndDevelopmentCollaboration
4446000 USD
CY2012 us-gaap Revenues
Revenues
22076000 USD
CY2013 us-gaap Revenues
Revenues
20915000 USD
CY2014 us-gaap Revenues
Revenues
30659000 USD
CY2012 us-gaap Contract Revenue Cost
ContractRevenueCost
14692000 USD
CY2013 us-gaap Contract Revenue Cost
ContractRevenueCost
8222000 USD
CY2014 us-gaap Contract Revenue Cost
ContractRevenueCost
14987000 USD
CY2012 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
26907000 USD
CY2013 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
50308000 USD
CY2014 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
79435000 USD
CY2012 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10142000 USD
CY2013 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
14819000 USD
CY2014 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
19928000 USD
CY2012 us-gaap Costs And Expenses
CostsAndExpenses
51741000 USD
CY2013 us-gaap Costs And Expenses
CostsAndExpenses
73349000 USD
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-13810000 USD
CY2014 us-gaap Costs And Expenses
CostsAndExpenses
114350000 USD
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OperatingIncomeLoss
-29665000 USD
CY2013 us-gaap Operating Income Loss
OperatingIncomeLoss
-52434000 USD
CY2014 us-gaap Operating Income Loss
OperatingIncomeLoss
-83691000 USD
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InvestmentIncomeNet
165000 USD
CY2013 us-gaap Investment Income Net
InvestmentIncomeNet
187000 USD
CY2014 us-gaap Investment Income Net
InvestmentIncomeNet
286000 USD
CY2012 us-gaap Interest Expense
InterestExpense
32000 USD
CY2013 us-gaap Interest Expense
InterestExpense
160000 USD
CY2014 us-gaap Interest Expense
InterestExpense
157000 USD
CY2012 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
45000 USD
CY2013 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
182000 USD
CY2014 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
0 USD
CY2014 us-gaap Fair Value Adjustment Of Warrants
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0 USD
CY2012 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
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-28507000 USD
CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-51958000 USD
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-82947000 USD
CY2012 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2013 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25000 USD
CY2014 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0 USD
CY2012 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.22
CY2013 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.31
CY2014 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.37
CY2012 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
131726 shares
CY2013 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
169658 shares
CY2014 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
225848 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
16667 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
15000 shares
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
16667 shares
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0055 pure
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
0 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
15000 shares
CY2013Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
1.39
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.48
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
1.39
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
0
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
4.48
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0054 pure
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0124 pure
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0154 pure
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
923000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
923000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
923000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
923000 USD
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0136 pure
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0222 pure
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.755 pure
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.5155 pure
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.5247 pure
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.786 pure
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.7372 pure
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.6793 pure
CY2012 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2091000 USD
CY2013 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2480000 USD
CY2014 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6090000 USD
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y3M18D
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
100000 USD
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
600000 USD
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
3400000 USD
CY2014Q4 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
13300000 USD
CY2014 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y3M18D
CY2014Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
23600000 USD
CY2012 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.71
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.07
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.39
CY2014Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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923000 USD
CY2012Q4 us-gaap Goodwill
Goodwill
33141000 USD
CY2014 us-gaap Available For Sale Securities Gross Unrealized Gains
AvailableForSaleSecuritiesGrossUnrealizedGains
8000 USD
CY2013 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
25424000 USD
CY2014 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0 USD
CY2013 us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
142000 USD
CY2014 us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
-4095000 USD
CY2013Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
12981000 USD
CY2014Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
135786000 USD
CY2013 us-gaap Available For Sale Securities Gross Unrealized Gains
AvailableForSaleSecuritiesGrossUnrealizedGains
616000 USD
CY2013 us-gaap Available For Sale Securities Gross Unrealized Loss
AvailableForSaleSecuritiesGrossUnrealizedLoss
0 USD
CY2014 us-gaap Available For Sale Securities Gross Unrealized Loss
AvailableForSaleSecuritiesGrossUnrealizedLoss
73000 USD
CY2013Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
13597000 USD
CY2014Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
135721000 USD
CY2014 us-gaap Nature Of Operations
NatureOfOperations
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;size: 8.5in 11.0in"> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt">Note 1 &#150; Organization</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif" align="justify">Novavax, Inc. (&#8220;Novavax,&#8221; and together with its wholly-owned subsidiary, &#8220;Novavax AB,&#8221; the &#8220;Company&#8221;) is a clinical-stage vaccine company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. The Company&#8217;s product pipeline targets a variety of infectious diseases with vaccine candidates currently in clinical development for respiratory syncytial virus (&#8220;RSV&#8221;), seasonal influenza, pandemic influenza and Ebola virus (&#8220;EBOV&#8221;). The Company has additional pre-clinical stage programs in a variety of infectious diseases, including Middle East Respiratory Syndrome (&#8220;MERS&#8221;).</div> </div> </div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2012 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
400000 USD
CY2013 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
6100000 USD
CY2014 us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
7100000 USD
CY2013Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2013Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2013Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2013Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2013Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2014Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2013Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2013Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
209110744 shares
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
239287294 shares
CY2013Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
208655314 shares
CY2014Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
238831864 shares
CY2013Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
455430 shares
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
455430 shares
CY2014 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt 0.25in" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt 0.25in" align="justify"><strong><i><font style="FONT-SIZE: 10pt"> Concentration of Credit Risk</font></i></strong></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Financial instruments, which possibly expose the Company to concentration of credit risk, consist primarily of cash and cash equivalents and marketable securities. The Company&#8217;s investment policy limits investments to certain types of instruments, including auction rate securities, high-grade corporate debt securities and money market instruments, places restrictions on maturities and concentrations in certain industries and requires the Company to maintain a certain level of liquidity. At times, the Company maintains cash balances in financial institutions, which may exceed federally insured limits. The Company has not experienced any losses relating to such accounts and believes it is not exposed to a significant credit risk on its cash and cash equivalents.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2013Q4 us-gaap Marketable Securities Current
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13597000 USD
CY2014Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
135721000 USD
CY2014 us-gaap Stock Issued During Period Value New Issues
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107895000 USD
CY2014Q4 us-gaap Share Price
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2.68
CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
53849000 USD
CY2013 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2480000 USD
CY2014 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6090000 USD
CY2012 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
54000 USD
CY2013 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1498000 USD
CY2014Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
0.5 shares
CY2012 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
53155000 USD
CY2013 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
170590000 USD
CY2014Q4 us-gaap Revenues
Revenues
6724000 USD
CY2012 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-402000 USD
CY2013 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
186000 USD
CY2014 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-680000 USD
CY2013Q1 us-gaap Revenues
Revenues
3833000 USD
CY2014Q1 us-gaap Revenues
Revenues
7462000 USD
CY2013Q2 us-gaap Revenues
Revenues
3531000 USD
CY2014Q2 us-gaap Revenues
Revenues
8259000 USD
CY2013Q3 us-gaap Revenues
Revenues
4802000 USD
CY2014Q3 us-gaap Revenues
Revenues
8214000 USD
CY2013Q4 us-gaap Revenues
Revenues
8748000 USD
CY2013Q1 us-gaap Net Income Loss
NetIncomeLoss
-9996000 USD
CY2013Q2 us-gaap Net Income Loss
NetIncomeLoss
-12633000 USD
CY2014Q2 us-gaap Net Income Loss
NetIncomeLoss
-17864000 USD
CY2013Q3 us-gaap Net Income Loss
NetIncomeLoss
-15300000 USD
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
-19727000 USD
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
-14054000 USD
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
-31546000 USD
CY2013Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.07
CY2014Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.07
CY2013Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.08
CY2014Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.08
CY2013Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.09
CY2014Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.08
CY2013Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.07
CY2014Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.13
CY2013Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3617000 USD
CY2014Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
9195000 USD
CY2012Q4 us-gaap Stockholders Equity
StockholdersEquity
80240000 USD
CY2013 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
223000 USD
CY2014 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-6764000 USD
CY2014 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
0 USD
CY2013Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
379000 USD
CY2014Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
70000 USD
CY2014Q4 us-gaap Purchase Obligation
PurchaseObligation
7500000 USD
CY2014Q4 nvax Purchase Commitment Aggregate Amount Incurred Towards Total Commitment
PurchaseCommitmentAggregateAmountIncurredTowardsTotalCommitment
5700000 USD
CY2013Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
400000 USD
CY2014Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
400000 USD
CY2008Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
6686650 shares
CY2008Q3 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
17500000 USD
CY2008Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
3343325 shares
CY2014Q4 us-gaap Supplies
Supplies
7564000 USD
CY2008Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.62
CY2013Q4 us-gaap Supplies
Supplies
1754000 USD
CY2012 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
100000 USD
CY2013 us-gaap Gain Loss On Derivative Instruments Net Pretax
GainLossOnDerivativeInstrumentsNetPretax
300000 USD
CY2013Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1863000 USD
CY2014Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1631000 USD
CY2014 nvax Defined Contribution Plan Percent Of Employee Deferral Eligible For Employer Matching
DefinedContributionPlanPercentOfEmployeeDeferralEligibleForEmployerMatching
0.06 pure
CY2013 nvax Defined Contribution Plan Cost And Other Expenses
DefinedContributionPlanCostAndOtherExpenses
200000 USD
CY2014 nvax Defined Contribution Plan Cost And Other Expenses
DefinedContributionPlanCostAndOtherExpenses
400000 USD
CY2014 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
1 pure
CY2012 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.25 pure
CY2013 us-gaap Defined Contribution Plan Employer Matching Contribution Percent
DefinedContributionPlanEmployerMatchingContributionPercent
0.5 pure
CY2012 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
100000 USD
CY2013 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
400000 USD
CY2014 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
500000 USD
CY2014 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
CY2012 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 USD
CY2013 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 USD
CY2014 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
0 USD
CY2012 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
0 USD
CY2013 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
25000 USD
CY2014 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
0 USD
CY2012 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
CY2013 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
0 USD
CY2013Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
123907000 USD
CY2014Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
DeferredTaxAssetsOperatingLossCarryforwardsDomestic
148451000 USD
CY2013Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
6405000 USD
CY2014Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
6535000 USD
CY2013Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
9175000 USD
CY2014Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
11068000 USD
CY2013Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
6844000 USD
CY2014Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
9963000 USD
CY2013Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
146331000 USD
CY2014Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
176017000 USD
CY2013Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
-3573000 USD
CY2014Q4 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
-2773000 USD
CY2013Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
227000 USD
CY2014Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
321000 USD
CY2013Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
3800000 USD
CY2014Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
3094000 USD
CY2013Q4 nvax Deferred Tax Assets Liabilities Gross
DeferredTaxAssetsLiabilitiesGross
142531000 USD
CY2014Q4 nvax Deferred Tax Assets Liabilities Gross
DeferredTaxAssetsLiabilitiesGross
172923000 USD
CY2013Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
142531000 USD
CY2014Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
172923000 USD
CY2013Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 USD
CY2014Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
0 USD
CY2012 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
-0.34 pure
CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
-0.34 pure
CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
-0.34 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.08 pure
CY2013 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.03 pure
CY2014 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.03 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
0 pure
CY2013 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.07 pure
CY2014 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.02 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
0.06 pure
CY2013 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
0 pure
CY2014 us-gaap Effective Income Tax Rate Reconciliation Prior Year Income Taxes
EffectiveIncomeTaxRateReconciliationPriorYearIncomeTaxes
0 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.03 pure
CY2013 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.03 pure
CY2014 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.02 pure
CY2012 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.33 pure
CY2013 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.41 pure
CY2014 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.37 pure
CY2012 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2013 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2014 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0 pure
CY2012Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4801000 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2013 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
0 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
0 USD
CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsIncreasesResultingFromSettlementsWithTaxingAuthorities
0 USD
CY2014 us-gaap Unrecognized Tax Benefits Increases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsIncreasesResultingFromSettlementsWithTaxingAuthorities
0 USD
CY2013Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4801000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
4801000 USD
CY2014Q4 nvax Tenant Improvement Allowance
TenantImprovementAllowance
2500000 USD
CY2014Q4 nvax Additional Tenant Improvement Allowance
AdditionalTenantImprovementAllowance
3000000 USD
CY2013 us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
700000 USD
CY2014 us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
500000 USD
CY2014Q4 nvax Purchase Obligation Minimum Payment Threshold
PurchaseObligationMinimumPaymentThreshold
2000000 USD
CY2014Q4 nvax Purchase Obligation Percent Of Shortfall
PurchaseObligationPercentOfShortfall
0.5 pure
CY2012 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
3200000 USD
CY2013 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
3400000 USD
CY2014 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
3600000 USD
CY2014Q4 nvax Contingent Payment Amount
ContingentPaymentAmount
14000000 USD
CY2014 nvax Aggregate Payments Made Per License Agreement
AggregatePaymentsMadePerLicenseAgreement
6400000 USD
us-gaap License Costs
LicenseCosts
300000 USD
CY2014 us-gaap License Costs
LicenseCosts
200000 USD
CY2013 us-gaap Business Combination Consideration Transferred Equity Interests Issued And Issuable
BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable
41900000 USD
CY2012 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-35042000 USD
CY2013 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-55594000 USD
CY2012 nvax Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
0.24
CY2013 nvax Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
0.31
CY2013 nvax Novavax Shares Issued
NovavaxSharesIssued
15600000 shares
CY2013Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
3056000 USD
CY2013Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Receivables
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables
447000 USD
CY2013Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Prepaid Expense And Other Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets
1092000 USD
CY2013Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
16620000 USD
CY2013Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
165000 USD
CY2013Q3 nvax Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedGoodwill
25424000 USD
CY2013Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
2994000 USD
CY2013Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Capital Lease Obligation
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCapitalLeaseObligation
94000 USD
CY2013Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Long Term Debt
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesLongTermDebt
193000 USD
CY2013Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Noncurrent Liabilities Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNoncurrentLiabilitiesOther
1559000 USD
CY2013Q3 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
41964000 USD
CY2012 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
24810000 USD
CY2013 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
22785000 USD
CY2013 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P17Y
CY2013 nvax Acquisition Transaction Costs
AcquisitionTransactionCosts
1300000 USD
CY2012Q3 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
2000000 USD
CY2014Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
31007000 USD
CY2013Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9420000 USD
CY2014Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11270000 USD
CY2013Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5323000 USD
CY2014Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
8597000 USD
CY2013Q4 nvax Research And Development Accruals
ResearchAndDevelopmentAccruals
3657000 USD
CY2014Q4 nvax Research And Development Accruals
ResearchAndDevelopmentAccruals
9826000 USD
CY2013Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1431000 USD
CY2014Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
974000 USD
CY2014Q4 nvax Total Tenant Improvement Allowance
TotalTenantImprovementAllowance
5500000 USD
CY2013Q4 nvax Business Acquisition Percentage Of Voting Interests Acquired During Period
BusinessAcquisitionPercentageOfVotingInterestsAcquiredDuringPeriod
0.995 pure
CY2013Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1881000 USD
CY2014Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
998000 USD
CY2013Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
877000 USD
CY2014Q4 us-gaap Short Term Borrowings
ShortTermBorrowings
603000 USD
CY2012 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
9400000 USD
CY2013 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
7100000 USD
CY2014 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
30400000 USD
CY2013Q4 us-gaap Deductions Charges
DeductionsCharges
2400000 USD
CY2014Q4 us-gaap Deductions Charges
DeductionsCharges
5000000 USD
CY2014Q4 nvax Purchase Obligation Services Received
PurchaseObligationServicesReceived
2700000 USD
CY2013Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
23671000 USD
CY2012 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1700000 USD
CY2013 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2600000 USD
CY2014 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
4400000 USD
CY2012 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
365000 USD
CY2013 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
6067000 USD
CY2014 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
7105000 USD
CY2013 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000 USD
CY2014 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1100000 USD
CY2013Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
200000 USD
CY2014Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
-6500000 USD
CY2013Q4 nvax Loan Agreement Future Minimum Payments Next Rolling Twelve Months
LoanAgreementFutureMinimumPaymentsNextRollingTwelveMonths
603000 USD
CY2013Q4 nvax Loan Agreement Future Minimum Payments Due In Rolling Year Two
LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo
395000 USD
CY2013Q4 nvax Loan Agreement Future Minimum Payments Due
LoanAgreementFutureMinimumPaymentsDue
998000 USD
CY2014 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2014 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
800000 USD
CY2012Q3 us-gaap Debt Instrument Basis Spread On Variable Rate1
DebtInstrumentBasisSpreadOnVariableRate1
0.1168 pure
CY2013Q4 nvax Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedGoodwill
25400000 USD
CY2014 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2014 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2013Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
800000 USD
CY2012Q3 us-gaap Debt Instrument Interest Rate Stated Percentage Rate Range Minimum
DebtInstrumentInterestRateStatedPercentageRateRangeMinimum
0.121 pure
CY2012Q3 nvax Debtinstrument Term Extended
DebtinstrumentTermExtended
P42M
CY2013 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
2000000 USD
CY2014 dei Document Type
DocumentType
10-K
CY2014 dei Amendment Flag
AmendmentFlag
false
CY2014 dei Document Period End Date
DocumentPeriodEndDate
2014-12-31
CY2014 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
CY2014 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2014 dei Entity Registrant Name
EntityRegistrantName
NOVAVAX INC
CY2014 dei Entity Central Index Key
EntityCentralIndexKey
0001000694
CY2014 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2014Q2 dei Entity Public Float
EntityPublicFloat
934600000 USD
CY2014 dei Trading Symbol
TradingSymbol
NVAX
CY2015Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
239379766 shares
CY2012 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
48652000 USD
CY2013 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
14754000 USD
CY2014 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
176469000 USD
CY2012 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
0 USD
CY2013 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
200000 USD
CY2014 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-60000 USD
CY2014 nvax Available For Sale Securities Number Of Securities Owned
AvailableForSaleSecuritiesNumberOfSecuritiesOwned
41 shares
CY2014 nvax Available For Sale Securities Number Of Securities Owned Unrealized Losses
AvailableForSaleSecuritiesNumberOfSecuritiesOwnedUnrealizedLosses
38 shares
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
44300000 USD
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y7M6D
CY2014 nvax Stock Issued During Period Value Stock Options Exercised And Employee Stock Purchase Plan
StockIssuedDuringPeriodValueStockOptionsExercisedAndEmployeeStockPurchasePlan
2790000 USD
CY2012 nvax Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition1
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognition1
2091000 USD
CY2013Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Assets Other
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsOther
800000 USD
CY2013Q4 nvax Accrued Expenses After Retrospective Adjustment
AccruedExpensesAfterRetrospectiveAdjustment
10400000 USD

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