2015 Q3 Form 10-Q Financial Statement

#000114420415063483 Filed on November 09, 2015

View on sec.gov

Income Statement

Concept 2015 Q3 2014 Q3
Revenue $6.525M $8.214M
YoY Change -20.56% 71.05%
Cost Of Revenue $2.700M $4.027M
YoY Change -32.95% 76.93%
Gross Profit $3.825M $4.187M
YoY Change -8.65% 65.76%
Gross Profit Margin 58.62% 50.97%
Selling, General & Admin $9.100M $4.800M
YoY Change 89.58% 23.08%
% of Gross Profit 237.91% 114.64%
Research & Development $30.66M $19.22M
YoY Change 59.55% 37.79%
% of Gross Profit 801.67% 459.02%
Depreciation & Amortization $1.500M $1.000M
YoY Change 50.0% 66.67%
% of Gross Profit 39.22% 23.88%
Operating Expenses $30.66M $19.22M
YoY Change 59.55% 37.79%
Operating Profit -$33.20M -$19.79M
YoY Change 67.76% 29.52%
Interest Expense $64.00K $47.00K
YoY Change 36.17% -26.56%
% of Operating Profit
Other Income/Expense, Net -$51.00K -$19.00K
YoY Change 168.42% 90.0%
Pretax Income -$33.10M -$19.73M
YoY Change 67.79% 28.93%
Income Tax
% Of Pretax Income
Net Earnings -$33.12M -$19.73M
YoY Change 67.89% 28.93%
Net Earnings / Revenue -507.59% -240.16%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.452M -$1.655M
COMMON SHARES
Basic Shares Outstanding 269.6M shares 238.4M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $290.2M $178.1M
YoY Change 62.94% 21.65%
Cash & Equivalents $138.1M $34.47M
Short-Term Investments $152.0M $143.6M
Other Short-Term Assets $15.60M $402.0K
YoY Change 3780.6% 10.14%
Inventory
Prepaid Expenses $6.395M
Receivables $4.300M $2.859M
Other Receivables $0.00 $0.00
Total Short-Term Assets $310.1M $192.0M
YoY Change 61.53% 23.84%
LONG-TERM ASSETS
Property, Plant & Equipment $29.42M $17.49M
YoY Change 68.2% 25.22%
Goodwill $53.06M $56.17M
YoY Change -5.54% -4.4%
Intangibles $11.01M $13.76M
YoY Change -20.04% -16.1%
Long-Term Investments $12.20M
YoY Change
Other Assets $1.044M $159.0K
YoY Change 556.6% -3.05%
Total Long-Term Assets $94.53M $100.5M
YoY Change -5.97% 11.64%
TOTAL ASSETS
Total Short-Term Assets $310.1M $192.0M
Total Long-Term Assets $94.53M $100.5M
Total Assets $404.6M $292.5M
YoY Change 38.33% 19.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.201M $2.975M
YoY Change 175.66% -10.9%
Accrued Expenses $13.27M $13.71M
YoY Change -3.22% 43.54%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $500.0K $900.0K
YoY Change -44.44% 28.57%
Total Short-Term Liabilities $24.87M $18.64M
YoY Change 33.47% 30.68%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $700.0K
YoY Change -100.0% -63.16%
Other Long-Term Liabilities $3.094M $1.399M
YoY Change 121.16% -11.34%
Total Long-Term Liabilities $3.094M $1.399M
YoY Change 121.16% -11.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $24.87M $18.64M
Total Long-Term Liabilities $3.094M $1.399M
Total Liabilities $37.62M $30.86M
YoY Change 21.88% 8.29%
SHAREHOLDERS EQUITY
Retained Earnings -$571.2M -$461.5M
YoY Change 23.76% 16.53%
Common Stock $2.703M $2.389M
YoY Change 13.14% 14.31%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.450M $2.450M
YoY Change 0.0% 0.0%
Treasury Stock Shares 455.4K shares 455.4K shares
Shareholders Equity $367.0M $261.7M
YoY Change
Total Liabilities & Shareholders Equity $404.6M $292.5M
YoY Change 38.33% 19.36%

Cashflow Statement

Concept 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income -$33.12M -$19.73M
YoY Change 67.89% 28.93%
Depreciation, Depletion And Amortization $1.500M $1.000M
YoY Change 50.0% 66.67%
Cash From Operating Activities -$28.50M -$15.80M
YoY Change 80.38% 6.04%
INVESTING ACTIVITIES
Capital Expenditures -$4.400M -$3.100M
YoY Change 41.94% 93.75%
Acquisitions
YoY Change
Other Investing Activities -$4.800M -$51.10M
YoY Change -90.61% -400.59%
Cash From Investing Activities -$9.200M -$54.10M
YoY Change -82.99% -451.3%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 8.500M 500.0K
YoY Change 1600.0% -99.58%
NET CHANGE
Cash From Operating Activities -28.50M -15.80M
Cash From Investing Activities -9.200M -54.10M
Cash From Financing Activities 8.500M 500.0K
Net Change In Cash -29.20M -69.40M
YoY Change -57.93% -157.93%
FREE CASH FLOW
Cash From Operating Activities -$28.50M -$15.80M
Capital Expenditures -$4.400M -$3.100M
Free Cash Flow -$24.10M -$12.70M
YoY Change 89.76% -4.51%

Facts In Submission

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CY2014 us-gaap Available For Sale Securities Gross Unrealized Gains
AvailableForSaleSecuritiesGrossUnrealizedGains
8000 USD
us-gaap Available For Sale Securities Gross Unrealized Loss
AvailableForSaleSecuritiesGrossUnrealizedLoss
15000 USD
CY2014 us-gaap Available For Sale Securities Gross Unrealized Loss
AvailableForSaleSecuritiesGrossUnrealizedLoss
73000 USD
nvax Available For Sale Securities Number Of Securities Owned
AvailableForSaleSecuritiesNumberOfSecuritiesOwned
51000 shares
nvax Available For Sale Securities Number Of Securities Owned Unrealized Losses
AvailableForSaleSecuritiesNumberOfSecuritiesOwnedUnrealizedLosses
27000 shares
us-gaap Goodwill Translation Adjustments
GoodwillTranslationAdjustments
-1550000 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1851000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1307000 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
11005000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
12577000 USD
CY2014Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
13884000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
600000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
800000 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
214000 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
854000 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
854000 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
854000 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
854000 USD
CY2015Q3 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
729000 USD
CY2014Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000 shares
CY2015Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
600000000 shares
CY2015Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
269819071 shares
CY2014Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
239287294 shares
CY2014Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
238831864 shares
CY2015Q3 us-gaap Treasury Stock Shares
TreasuryStockShares
455430 shares
CY2014Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
455430 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
9000000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1800000 USD
CY2014Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
15000 shares
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
0 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
15000 shares
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 Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
4.48
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
0
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
0
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
4.48
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
CY2015Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4765000 USD
CY2014Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1691000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
9278000 USD
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4583000 USD
CY2015Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
33700000 USD
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y6M
us-gaap Contracts Revenue
ContractsRevenue
107000000 USD
CY2015Q3 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.2 pure
nvax Services Purchased
ServicesPurchased
7200000 USD
nvax Services Purchased
ServicesPurchased
1500000 USD
nvax Remaining Obligation Under Master Services Agreement
RemainingObligationUnderMasterServicesAgreement
300000 USD
CY2015Q3 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
CY2015Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2014Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
2000000 shares
CY2015Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2015Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2014Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2015Q3 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
CY2015Q3 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
270274501 shares
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;MARGIN: 0in 0in 0pt" align="center"></div> <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">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 preclinical stage programs in a variety of infectious diseases, including Middle East Respiratory Syndrome (&#8220;MERS&#8221;).</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
4291000 USD
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
4309000 USD
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
18457000 USD
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
38522000 USD
us-gaap Payments For Proceeds From Tenant Allowance
PaymentsForProceedsFromTenantAllowance
3900000 USD
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
1351000 USD
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
5656000 USD
CY2015Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
4458000 USD
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Use Of Estimates
UseOfEstimates
<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">Use of Estimates</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">The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States, 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 consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from those estimates.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2014Q4 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
800000 USD
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.70
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.92
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0132 pure
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0139 pure
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0143 pure
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0151 pure
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.5493 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.524 pure
CY2015Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.5717 pure
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.5275 pure
CY2014Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.5425 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.43
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
2.41
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0119 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0213 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0124 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0222 pure
nvax Facility Lease Term
FacilityLeaseTerm
expiring in 2026

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