2017 Q1 Form 10-Q Financial Statement
#000114420417025227 Filed on May 08, 2017
Income Statement
| Concept | 2017 Q1 | 2016 Q4 | 2016 Q1 |
|---|---|---|---|
| Revenue | $5.680M | $5.399M | $4.218M |
| YoY Change | 34.66% | -7.76% | -57.29% |
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $8.900M | $8.300M | $10.50M |
| YoY Change | -15.24% | -6.74% | 81.03% |
| % of Gross Profit | |||
| Research & Development | $37.65M | $51.10M | $68.95M |
| YoY Change | -45.39% | -39.17% | 143.24% |
| % of Gross Profit | |||
| Depreciation & Amortization | $2.100M | $2.200M | $2.000M |
| YoY Change | 5.0% | 29.41% | 53.85% |
| % of Gross Profit | |||
| Operating Expenses | $37.65M | $59.40M | $68.95M |
| YoY Change | -45.39% | -29.95% | 143.24% |
| Operating Profit | -$40.83M | -$75.26M | |
| YoY Change | -45.75% | 209.55% | |
| Interest Expense | $3.513M | -$3.100M | $2.430M |
| YoY Change | 44.57% | -3200.0% | 6650.0% |
| % of Operating Profit | |||
| Other Income/Expense, Net | $11.00K | $0.00 | -$33.00K |
| YoY Change | -133.33% | -76.76% | |
| Pretax Income | -$43.90M | -$57.10M | -$77.30M |
| YoY Change | -43.21% | -27.54% | 216.8% |
| Income Tax | |||
| % Of Pretax Income | |||
| Net Earnings | -$43.85M | -$57.11M | -$77.25M |
| YoY Change | -43.23% | -27.53% | 217.0% |
| Net Earnings / Revenue | -772.08% | -1057.77% | -1831.48% |
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | -$3.204M | -$4.199M | -$5.726M |
| COMMON SHARES | |||
| Basic Shares Outstanding | 271.9M shares | 271.2M shares | 270.3M shares |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2017 Q1 | 2016 Q4 | 2016 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $211.2M | $235.5M | $433.9M |
| YoY Change | -51.33% | 2.08% | 32.41% |
| Cash & Equivalents | $124.9M | $179.3M | $132.2M |
| Short-Term Investments | $115.3M | $91.10M | $301.6M |
| Other Short-Term Assets | $47.30M | $6.301M | $50.30M |
| YoY Change | -5.96% | -0.76% | 337.39% |
| Inventory | |||
| Prepaid Expenses | |||
| Receivables | $200.0K | $406.0K | |
| Other Receivables | $0.00 | $0.00 | |
| Total Short-Term Assets | $258.4M | $287.8M | $484.6M |
| YoY Change | -46.67% | 0.2% | 38.42% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $39.44M | $40.18M | $36.56M |
| YoY Change | 7.88% | 24.25% | 52.53% |
| Goodwill | $51.94M | $51.67M | $53.77M |
| YoY Change | -3.39% | -2.62% | 2.09% |
| Intangibles | $9.161M | $9.225M | $10.96M |
| YoY Change | -16.43% | -14.53% | -2.11% |
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $2.500M | $799.0K | $137.0K |
| YoY Change | 1724.82% | 402.52% | -85.08% |
| Total Long-Term Assets | $103.1M | $106.5M | $107.9M |
| YoY Change | -4.5% | 7.78% | 21.6% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $258.4M | $287.8M | $484.6M |
| Total Long-Term Assets | $103.1M | $106.5M | $107.9M |
| Total Assets | $361.5M | $394.3M | $592.5M |
| YoY Change | -38.99% | 2.14% | 35.02% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $3.790M | $5.685M | $11.24M |
| YoY Change | -66.27% | -52.18% | 15.35% |
| Accrued Expenses | $26.70M | $24.51M | $27.15M |
| YoY Change | -1.65% | -8.33% | 74.13% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | -100.0% | ||
| Long-Term Debt Due | $0.00 | $300.0K | |
| YoY Change | -100.0% | -50.0% | |
| Total Short-Term Liabilities | $56.50M | $66.41M | $71.05M |
| YoY Change | -20.48% | -13.19% | 146.91% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $316.7M | $316.3M | $315.3M |
| YoY Change | 0.44% | 105000.0% | |
| Other Long-Term Liabilities | $17.40M | $14.60M | $3.248M |
| YoY Change | 435.71% | 14.94% | 3469.23% |
| Total Long-Term Liabilities | $334.1M | $14.60M | $3.248M |
| YoY Change | 10186.33% | 14.94% | 3469.23% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $56.50M | $66.41M | $71.05M |
| Total Long-Term Liabilities | $334.1M | $14.60M | $3.248M |
| Total Liabilities | $390.6M | $399.8M | $407.1M |
| YoY Change | -4.05% | 328.24% | 940.18% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$930.0M | -$727.3M | |
| YoY Change | 43.07% | 40.55% | |
| Common Stock | $2.717M | $2.712M | |
| YoY Change | 0.48% | 1.04% | |
| 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 | 455.4K shares |
| Shareholders Equity | -$29.10M | -$5.546M | $185.4M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $361.5M | $394.3M | $592.5M |
| YoY Change | -38.99% | 2.14% | 35.02% |
Cashflow Statement
| Concept | 2017 Q1 | 2016 Q4 | 2016 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$43.85M | -$57.11M | -$77.25M |
| YoY Change | -43.23% | -27.53% | 217.0% |
| Depreciation, Depletion And Amortization | $2.100M | $2.200M | $2.000M |
| YoY Change | 5.0% | 29.41% | 53.85% |
| Cash From Operating Activities | -$44.50M | -$64.60M | -$69.80M |
| YoY Change | -36.25% | 17.88% | 128.85% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$1.100M | -$3.200M | -$5.500M |
| YoY Change | -80.0% | -31.91% | 12.24% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | -$24.20M | $89.10M | -$163.9M |
| YoY Change | -85.23% | 527.46% | -822.03% |
| Cash From Investing Activities | -$25.28M | $85.90M | -$169.4M |
| YoY Change | -85.07% | 804.21% | -1051.69% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $14.59M | $0.00 | |
| YoY Change | -100.0% | ||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | $15.36M | 700.0K | 278.4M |
| YoY Change | -94.48% | 250.0% | 42.4% |
| NET CHANGE | |||
| Cash From Operating Activities | -$44.50M | -64.60M | -69.80M |
| Cash From Investing Activities | -$25.28M | 85.90M | -169.4M |
| Cash From Financing Activities | $15.36M | 700.0K | 278.4M |
| Net Change In Cash | -$54.39M | 22.00M | 39.20M |
| YoY Change | -238.74% | -148.78% | -78.56% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$44.50M | -$64.60M | -$69.80M |
| Capital Expenditures | -$1.100M | -$3.200M | -$5.500M |
| Free Cash Flow | -$43.40M | -$61.40M | -$64.30M |
| YoY Change | -32.51% | 22.55% | 151.17% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2017Q1 | us-gaap |
Assets
Assets
|
361504000 | USD |
| CY2016Q4 | us-gaap |
Liabilities
Liabilities
|
399847000 | USD |
| CY2017Q1 | us-gaap |
Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
|
2500000 | USD |
| CY2016Q4 | us-gaap |
Deferred Revenue Noncurrent
DeferredRevenueNoncurrent
|
2500000 | USD |
| CY2017Q1 | us-gaap |
Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
|
316695000 | USD |
| CY2016Q4 | us-gaap |
Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
|
316339000 | USD |
| CY2016Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
| CY2017Q1 | us-gaap |
Investment Income Net
InvestmentIncomeNet
|
474000 | USD |
| CY2016Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.29 | |
| CY2016Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
1954000 | USD |
| CY2016Q1 | us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
-146000 | USD |
| CY2017Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
4213000 | USD |
| CY2017Q1 | us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
-5880000 | USD |
| CY2017Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
-4867000 | USD |
| CY2016Q1 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
37000 | USD |
| CY2017Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-48506000 | USD |
| CY2016Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
39117000 | USD |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-169440000 | USD |
| CY2016Q1 | nvax |
Payment For Capped Call Transactions And Expenses
PaymentForCappedCallTransactionsAndExpenses
|
38521000 | USD |
| CY2017Q1 | us-gaap |
Assets Current
AssetsCurrent
|
258449000 | USD |
| CY2016Q4 | us-gaap |
Assets Current
AssetsCurrent
|
287830000 | USD |
| CY2016Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
40184000 | USD |
| CY2017Q1 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
9161000 | USD |
| CY2016Q4 | us-gaap |
Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
|
9225000 | USD |
| CY2017Q1 | nvax |
Research And Development Collaboration
ResearchAndDevelopmentCollaboration
|
5680000 | USD |
| CY2016Q1 | us-gaap |
Interest Expense
InterestExpense
|
2430000 | USD |
| CY2017Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-40826000 | USD |
| CY2017Q1 | us-gaap |
Revenues
Revenues
|
5680000 | USD |
| CY2016Q1 | us-gaap |
Revenues
Revenues
|
4218000 | USD |
| CY2016Q1 | us-gaap |
Contracts Revenue
ContractsRevenue
|
1946000 | USD |
| CY2017Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
11000 | USD |
| CY2016Q1 | nvax |
Research And Development Collaboration
ResearchAndDevelopmentCollaboration
|
2272000 | USD |
| CY2017Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-43854000 | USD |
| CY2016Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-77252000 | USD |
| CY2016Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
68952000 | USD |
| CY2016Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
10528000 | USD |
| CY2017Q1 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
46506000 | USD |
| CY2016Q1 | us-gaap |
Costs And Expenses
CostsAndExpenses
|
79480000 | USD |
| CY2017Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.16 | |
| CY2017Q1 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
-1000 | USD |
| CY2016Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-75262000 | USD |
| CY2016Q1 | us-gaap |
Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
|
317000 | USD |
| CY2017Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
480000 | USD |
| CY2016Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
|
1259000 | USD |
| CY2017Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
479000 | USD |
| CY2016Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
|
1576000 | USD |
| CY2017Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-43375000 | USD |
| CY2016Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-75676000 | USD |
| CY2017Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
39439000 | USD |
| CY2016Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
| CY2017Q1 | us-gaap |
Goodwill
Goodwill
|
51941000 | USD |
| CY2016Q4 | us-gaap |
Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
|
14602000 | USD |
| CY2016Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
935997000 | USD |
| CY2016Q4 | us-gaap |
Treasury Stock Value
TreasuryStockValue
|
2450000 | USD |
| CY2016Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
|
-11814000 | USD |
| CY2016Q4 | us-gaap |
Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
|
22037000 | USD |
| CY2016Q4 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
4590000 | USD |
| CY2016Q4 | us-gaap |
Assets
Assets
|
394301000 | USD |
| CY2016Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
1056000 | USD |
| CY2017Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
3790000 | USD |
| CY2017Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
56498000 | USD |
| CY2016Q4 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
30079000 | USD |
| CY2017Q1 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
2031000 | USD |
| CY2016Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
799000 | USD |
| CY2016Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
2717000 | USD |
| CY2016Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
24508000 | USD |
| CY2016Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-929996000 | USD |
| CY2017Q1 | us-gaap |
Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
|
1705000 | USD |
| CY2016Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
5685000 | USD |
| CY2016Q4 | us-gaap |
Liabilities And Stockholders Equity
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|
394301000 | USD |
| CY2016Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
-5546000 | USD |
| CY2016Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
66406000 | USD |
| CY2016Q4 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
5078000 | USD |
| CY2016Q4 | us-gaap |
Goodwill
Goodwill
|
51673000 | USD |
| CY2017Q1 | us-gaap |
Deferred Revenue Current
DeferredRevenueCurrent
|
24679000 | USD |
| CY2017Q1 | us-gaap |
Contracts Revenue
ContractsRevenue
|
0 | USD |
| CY2016Q1 | us-gaap |
Investment Income Net
InvestmentIncomeNet
|
473000 | USD |
| CY2017Q1 | us-gaap |
Interest Expense
InterestExpense
|
3513000 | USD |
| CY2017Q1 | us-gaap |
Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
|
31000 | USD |
| CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
93108000 | USD |
| CY2016Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
132225000 | USD |
| CY2017Q1 | us-gaap |
Interest Paid
InterestPaid
|
6094000 | USD |
| CY2017Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
797000 | USD |
| CY2016Q1 | us-gaap |
Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
|
2000000 | USD |
| CY2017Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
15364000 | USD |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
278351000 | USD |
| CY2017Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-1093000 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-637000 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
|
1482000 | USD |
| CY2017Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-5399000 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-1644000 | USD |
| CY2017Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-38617000 | USD |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-69831000 | USD |
| CY2017Q1 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
1084000 | USD |
| CY2017Q1 | us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
0 | USD |
| CY2016Q1 | us-gaap |
Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
|
5517000 | USD |
| CY2017Q1 | us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
18000 | USD |
| CY2016Q1 | us-gaap |
Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
|
19000 | USD |
| CY2017Q1 | us-gaap |
Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
|
0 | USD |
| CY2016Q1 | us-gaap |
Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
|
-143000 | USD |
| CY2017Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
14585000 | USD |
| CY2016Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
0 | USD |
| CY2016Q1 | us-gaap |
Interest Paid
InterestPaid
|
12000 | USD |
| CY2017Q1 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
0 | USD |
| CY2016Q1 | us-gaap |
Other Noncash Income Expense
OtherNoncashIncomeExpense
|
-98000 | USD |
| CY2017Q1 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
110330000 | USD |
| CY2016Q1 | us-gaap |
Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
|
246580000 | USD |
| CY2017Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-25284000 | USD |
| CY2016Q1 | us-gaap |
Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
|
325000000 | USD |
| CY2017Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
356000 | USD |
| CY2016Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
237000 | USD |
| CY2017Q1 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
0 | USD |
| CY2016Q1 | us-gaap |
Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
|
9966000 | USD |
| CY2017Q1 | nvax |
Payment For Capped Call Transactions And Expenses
PaymentForCappedCallTransactionsAndExpenses
|
0 | USD |
| CY2017Q1 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
543000 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-1728000 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
0 | USD |
| CY2017Q1 | us-gaap |
Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
|
1248000 | USD |
| CY2017Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-65000 | USD |
| CY2016Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
0 | USD |
| CY2017Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
2111000 | USD |
| CY2017Q1 | us-gaap |
Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
|
6000 | USD |
| CY2016Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
4961000 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Restricted Cash
IncreaseDecreaseInRestrictedCash
|
-1278000 | USD |
| CY2017Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
37654000 | USD |
| CY2017Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
8852000 | USD |
| CY2016Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-33000 | USD |
| CY2017Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
38202428 | shares |
| CY2016Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
32803931 | shares |
| CY2017Q1 | us-gaap |
Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
|
115299000 | USD |
| CY2017Q1 | us-gaap |
Available For Sale Securities
AvailableForSaleSecurities
|
115331000 | USD |
| CY2016Q4 | us-gaap |
Available For Sale Securities
AvailableForSaleSecurities
|
91126000 | USD |
| CY2017Q1 | us-gaap |
Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
57000 | USD |
| CY2017Q1 | us-gaap |
Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
25000 | USD |
| CY2016Q4 | us-gaap |
Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
|
91093000 | USD |
| CY2016Q4 | us-gaap |
Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
|
43000 | USD |
| CY2016Q4 | us-gaap |
Available For Sale Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
|
10000 | USD |
| CY2017Q1 | nvax |
Available For Sale Securities Number Of Securities Owned
AvailableForSaleSecuritiesNumberOfSecuritiesOwned
|
34 | Number |
| CY2017Q1 | nvax |
Available For Sale Securities Number Of Securities Owned Unrealized Losses
AvailableForSaleSecuritiesNumberOfSecuritiesOwnedUnrealizedLosses
|
18 | Number |
| CY2017Q1 | us-gaap |
Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
|
268000 | USD |
| CY2017Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
12113000 | USD |
| CY2017Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
2952000 | USD |
| CY2016Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
2710000 | USD |
| CY2017Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
9161000 | USD |
| CY2016Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
9225000 | USD |
| CY2016Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
11935000 | USD |
| CY2017Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
805000 | USD |
| CY2017Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
805000 | USD |
| CY2017Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
687000 | USD |
| CY2017Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
546000 | USD |
| CY2017Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
604000 | USD |
| CY2017Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
200000 | USD |
| CY2016Q4 | us-gaap |
Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
|
100000 | USD |
| CY2017Q1 | us-gaap |
Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
|
100000 | USD |
| CY2016Q1 | us-gaap |
Related Party Transaction Amounts Of Transaction
RelatedPartyTransactionAmountsOfTransaction
|
300000 | USD |
| CY2017Q1 | us-gaap |
Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
|
100000 | USD |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
100000 | USD |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
|
1800000 | USD |
| CY2017Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
40700000 | USD |
| CY2017Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
|
P1Y8M12D | |
| CY2017Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
4213000 | USD |
| CY2016Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
4961000 | USD |
| CY2016Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
45000 | shares |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
|
18750 | shares |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
|
0 | shares |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
|
26250 | shares |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
|
0 | shares |
| CY2016Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
4.99 | |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
|
4.99 | |
| CY2017Q1 | 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 | |
| CY2017Q1 | 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
|
4.99 | |
| CY2017Q1 | 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 | |
| CY2017Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2016Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.01 | |
| CY2017Q1 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
2000000 | shares |
| CY2016Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
2000000 | shares |
| CY2017Q1 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| CY2016Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| CY2017Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2016Q4 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2017Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2016Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
| CY2016Q4 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
600000000 | shares |
| CY2017Q1 | us-gaap |
Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
|
11400000 | USD |
| CY2016Q4 | us-gaap |
Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
|
11800000 | USD |
| CY2017Q1 | nvax |
Proceeds From Issuance Or Sale Of Equity Not Settled
ProceedsFromIssuanceOrSaleOfEquityNotSettled
|
225000 | USD |
| CY2016Q1 | nvax |
Proceeds From Issuance Or Sale Of Equity Not Settled
ProceedsFromIssuanceOrSaleOfEquityNotSettled
|
0 | USD |
| CY2017Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
600000000 | shares |
| CY2017Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
283069349 | shares |
| CY2016Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
271701397 | shares |
| CY2016Q4 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
271245967 | shares |
| CY2017Q1 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
455430 | shares |
| CY2016Q4 | us-gaap |
Treasury Stock Shares
TreasuryStockShares
|
455430 | shares |
| CY2017Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
282613919 | shares |
| CY2017Q1 | us-gaap |
Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
|
86130000 | USD |
| CY2016Q1 | us-gaap |
Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
|
82657000 | USD |
| CY2017Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
823000 | USD |
| CY2016Q1 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
3180000 | USD |
| CY2017Q1 | 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 – 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"> </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. (“Novavax,” and together with its wholly owned subsidiary, “Novavax AB,” the “Company”) is a clinical-stage biotechnology company focused on the discovery, development and commercialization of recombinant nanoparticle vaccines and adjuvants. Using innovative proprietary recombinant nanoparticle vaccine technology, the Company produces vaccine candidates to efficiently and effectively respond to both known and emerging disease threats. The Company’s vaccine candidates are genetically engineered three-dimensional nanostructures that incorporate recombinant proteins critical to disease pathogenesis. The Company’s product pipeline targets a variety of infectious diseases, with clinical vaccine candidates for respiratory syncytial virus (“RSV”) and Ebola virus (“EBOV”), and preclinical programs for Zika virus (“ZIKV”), seasonal influenza and a combination respiratory vaccine candidate, as well as other infectious disease vaccine candidates.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
| CY2017Q1 | 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"> </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> | |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.0170 | pure |
| CY2017Q1 | us-gaap |
Revenue Recognition Revenue Reductions
RevenueRecognitionRevenueReductions
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" 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">Revenue Recognition</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"> </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 Company performs research and development for U.S. Government agencies and other collaborators under cost reimbursable and fixed price contracts, including license, grant and clinical development agreements. The Company recognizes revenue under research contracts when a contract has been executed, the contract price is fixed or determinable, delivery of services or products has occurred and collection of the contract price is reasonably assured. Payments received in advance of work performed are recorded as deferred revenue and losses on contracts, if any, are recognized in the period in which they become known.</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> <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">Under cost reimbursable contracts with U.S. Government agencies, the Company is reimbursed and recognizes revenue as allowable costs are incurred plus a portion of the fixed-fee earned. The Company considers fixed-fees under cost reimbursable contracts to be earned in proportion to the allowable costs incurred in performance of the work as compared to total estimated contract costs, with such costs incurred representing a reasonable measurement of the proportional performance of the work completed. Under its HHS BARDA contract (see Note 10), certain activities were pre-approved by HHS BARDA in order for their costs to be deemed allowable direct costs. Direct costs incurred under cost reimbursable contracts are recorded as research and development expenses. Payments to the Company under cost reimbursable contracts with agencies of the U.S. Government, such as the HHS BARDA contract, are provisional payments subject to adjustment upon audit by the government. An audit of indirect rates of fiscal years 2013 and 2014 was completed in the first quarter of 2017. When the final determination of the additional costs for fiscal years 2013 and 2014 has been made, and such amount is known and collection of the amount is reasonably assured, revenue and billings will be adjusted accordingly.</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> <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">Under its Grant Agreement with BMGF (see Note 10), the Company is reimbursed for certain costs that support development activities, including the Company’s global Phase 3 clinical trial in pregnant women in their third trimester, product licensing efforts and World Health Organization (“WHO”) prequalification of the RSV F Vaccine. Payments received under the Grant Agreement are recognized as revenue in the period in which such research and development activities are performed.</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> <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 Company’s collaborative research and development agreements may include upfront payments, payments for research and development services, milestone payments and royalties. Agreements with multiple deliverables are evaluated to determine if the deliverables can be divided into more than one unit of accounting. A deliverable can generally be considered a separate unit of accounting if both of the following criteria are met: (1) the delivered item(s) has value to the customer on a stand-alone basis; and (2) if the arrangement includes a general right of return relative to the delivered item(s), delivery or performance of the undelivered item(s) is considered probable and substantially in control of the Company. Deliverables that cannot be divided into separate units are combined and treated as one unit of accounting. Consideration received is allocated among the separate units of accounting based on the relative selling price method. Deliverables under these arrangements typically include rights to intellectual property, research and development services and involvement by the parties in steering committees. Historically, deliverables under the Company’s collaborative research and development agreements have been deemed to have no stand-alone value and as a result have been treated as a single unit of accounting. In addition, the Company analyzes its contracts and collaborative agreements to determine whether the payments received should be recorded as revenue or as a reduction to research and development expenses. In reaching this determination, management considers a number of factors, including whether the Company is principal under the arrangement, and whether the arrangement is significant to, and part of, the Company’s core operations. Historically, payments received under its contracts and collaborative agreements have been recognized as revenue since the Company acts as a principal in the arrangement and the activities are core to its operations.</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> <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">When the performance under a fixed price contract can be reasonably estimated, revenue for fixed price contracts is recognized under the proportional performance method and earned in proportion to the contract costs incurred in performance of the work as compared to total estimated contract costs. Costs incurred under fixed price contracts represent a reasonable measurement of proportional performance of the work. Direct costs incurred under collaborative research and development agreements are recorded as research and development expenses.</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> <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">Revenue associated with upfront payments under arrangements is recognized over the contract term or when all obligations associated with the upfront payment have been satisfied.</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> <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">Revenue from the achievement of research and development milestones, if deemed substantive, is recognized as revenue when the milestones are achieved and the milestone payments are due and collectible. If not deemed substantive, the Company would recognize such milestones as revenue upon its achievement on a straight-line basis over the remaining expected term of the research and development period. Milestones are considered substantive if all of the following conditions are met: (1) the milestone is non-refundable; (2) there is substantive uncertainty of achievement of the milestone at the inception of the arrangement; (3) substantive effort is involved to achieve the milestone and such achievement relates to past performance; and (4) the amount of the milestone appears reasonable in relation to the effort expended and all of the deliverables and payment terms in the arrangement.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
| CY2017Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
523000 | USD |
| CY2016Q1 | us-gaap |
Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
|
200000 | USD |
| CY2016Q1 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
2336000 | USD |
| CY2016Q1 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
325000000 | USD |
| CY2016Q1 | us-gaap |
Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
|
315000000 | USD |
| CY2016Q1 | nvax |
Payment For Capped Call Transactions
PaymentForCappedCallTransactions
|
38500000 | USD |
| CY2016Q1 | nvax |
Debt Cap Price
DebtCapPrice
|
9.73 | pure |
| CY2016Q1 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
5.56 | |
| CY2016Q1 | nvax |
Adjustments To Additional Paid In Capital Expenses Related To Capped Call Transaction
AdjustmentsToAdditionalPaidInCapitalExpensesRelatedToCappedCallTransaction
|
900000 | USD |
| CY2017Q1 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
325000000 | USD |
| CY2016Q4 | us-gaap |
Debt Instrument Face Amount
DebtInstrumentFaceAmount
|
325000000 | USD |
| CY2017Q1 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
8305000 | USD |
| CY2016Q4 | us-gaap |
Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
|
8661000 | USD |
| CY2017Q1 | us-gaap |
Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
|
3047000 | USD |
| CY2016Q1 | us-gaap |
Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
|
2099000 | USD |
| CY2017Q1 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
3403000 | USD |
| CY2016Q4 | nvax |
Shelf Registration Statement Maximum Authorized Stock Issuance Value
ShelfRegistrationStatementMaximumAuthorizedStockIssuanceValue
|
200000000 | USD |
| CY2017Q1 | nvax |
Shelf Registration Statement Maximum Authorized Stock Issuance Value
ShelfRegistrationStatementMaximumAuthorizedStockIssuanceValue
|
75000000 | USD |
| CY2017Q1 | us-gaap |
Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
|
10700000 | shares |
| CY2017Q1 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
1.52 | |
| CY2017Q1 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
1.27 | |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
|
1.0950 | pure |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
|
0.5786 | pure |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
1.13 | |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
|
2.45 | |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.0173 | pure |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
|
0.0234 | pure |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
|
0.0125 | pure |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
| CY2017Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
|
0.8891 | pure |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
|
0.6828 | pure |
| CY2017Q1 | nvax |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Forfeiture Rate
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate
|
0 | pure |
| CY2016Q1 | us-gaap |
Debt Related Commitment Fees And Debt Issuance Costs
DebtRelatedCommitmentFeesAndDebtIssuanceCosts
|
10000000 | USD |
| CY2017Q1 | us-gaap |
Long Term Debt Maturities Repayment Terms
LongTermDebtMaturitiesRepaymentTerms
|
7 year | |
| CY2017Q1 | us-gaap |
Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
|
211200000 | USD |
