$NVAX
NOVAVAX INC

2019 Q1 Form 10-K Financial Statement

#000114420419014640 Filed on March 18, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q4 2018 Q3
Revenue $3.982M $6.127M $7.735M
YoY Change -58.75% -41.15% -7.39%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $8.700M $9.200M $8.300M
YoY Change 0.0% 8.24% 2.47%
% of Gross Profit
Research & Development $35.47M $43.40M $41.33M
YoY Change -20.31% -12.68% -1.28%
% of Gross Profit
Depreciation & Amortization $1.900M $2.000M $2.100M
YoY Change -9.52% -4.76% -40.0%
% of Gross Profit
Operating Expenses $35.47M $52.60M $41.33M
YoY Change -20.31% -9.62% -1.28%
Operating Profit -$40.22M -$41.90M
YoY Change -7.56% 0.65%
Interest Expense $3.403M -$2.800M $3.403M
YoY Change 0.0% -9.68% -3.32%
% of Operating Profit
Other Income/Expense, Net -$12.00K $0.00 -$19.00K
YoY Change -136.36% -290.0%
Pretax Income -$43.20M -$49.30M -$44.60M
YoY Change -6.9% -2.95% 0.0%
Income Tax
% Of Pretax Income
Net Earnings -$43.22M -$49.33M -$44.57M
YoY Change -6.76% -2.97% -0.08%
Net Earnings / Revenue -1085.33% -805.19% -576.21%
Basic Earnings Per Share
Diluted Earnings Per Share -$2.118M -$2.568M -$2.335M
COMMON SHARES
Basic Shares Outstanding 441.3M 382.9M shares 382.6M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q1 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $100.2M $92.10M $127.1M
YoY Change -30.32% -41.45% -26.36%
Cash & Equivalents $97.71M $70.15M $56.50M
Short-Term Investments $2.500M $22.00M $70.60M
Other Short-Term Assets $23.20M $4.321M $33.40M
YoY Change -37.63% -7.85% -37.45%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $123.4M $119.3M $160.5M
YoY Change -31.83% -41.33% -28.96%
LONG-TERM ASSETS
Property, Plant & Equipment $26.97M $28.43M $29.34M
YoY Change -16.75% -21.01% -21.33%
Goodwill $51.25M $51.97M $52.07M
YoY Change -2.98%
Intangibles $6.114M $6.541M $6.754M
YoY Change -16.92%
Long-Term Investments
YoY Change
Other Assets $11.73M $810.0K $814.0K
YoY Change 551.89% -6.79% -90.85%
Total Long-Term Assets $97.93M $88.70M $89.94M
YoY Change 2.97% -10.57% -16.8%
TOTAL ASSETS
Total Short-Term Assets $123.4M $119.3M $160.5M
Total Long-Term Assets $97.93M $88.70M $89.94M
Total Assets $221.3M $208.0M $250.5M
YoY Change -19.84% -31.25% -25.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.150M $9.301M $6.790M
YoY Change 6.03% 65.7% 30.58%
Accrued Expenses $13.88M $19.55M $20.96M
YoY Change -34.83% -33.98% -30.59%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $31.50M $45.54M $46.72M
YoY Change -29.85% -38.19% -31.6%
LONG-TERM LIABILITIES
Long-Term Debt $319.5M $319.2M $318.8M
YoY Change 0.44% 0.44% 0.44%
Other Long-Term Liabilities $17.46M $8.687M $9.112M
YoY Change 40.84% -15.55% -59.5%
Total Long-Term Liabilities $17.46M $8.687M $9.112M
YoY Change -94.72% -15.55% -97.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $31.50M $45.54M $46.72M
Total Long-Term Liabilities $17.46M $8.687M $9.112M
Total Liabilities $371.9M $375.9M $377.2M
YoY Change -0.93% -7.0% -7.6%
SHAREHOLDERS EQUITY
Retained Earnings -$1.342B -$1.299B -$1.250B
YoY Change 16.58%
Common Stock $4.699M $3.849M $3.832M
YoY Change 18.91%
Preferred Stock
YoY Change
Treasury Stock (at cost) $2.450M $2.450M $2.450M
YoY Change 0.0%
Treasury Stock Shares $455.4K $455.4K 455.4K shares
Shareholders Equity -$150.6M -$167.9M -$126.7M
YoY Change
Total Liabilities & Shareholders Equity $221.3M $208.0M $250.5M
YoY Change -19.84% -31.25% -25.03%

Cashflow Statement

Concept 2019 Q1 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income -$43.22M -$49.33M -$44.57M
YoY Change -6.76% -2.97% -0.08%
Depreciation, Depletion And Amortization $1.900M $2.000M $2.100M
YoY Change -9.52% -4.76% -40.0%
Cash From Operating Activities -$50.61M -$45.20M -$33.60M
YoY Change -23.41% 4.15% -23.98%
INVESTING ACTIVITIES
Capital Expenditures -$800.0K -$500.0K -$400.0K
YoY Change 300.0% -28.57% -66.67%
Acquisitions
YoY Change
Other Investing Activities $19.50M $48.90M $8.400M
YoY Change -5.8% 179.43% -80.51%
Cash From Investing Activities $18.71M $48.30M $8.000M
YoY Change -9.11% 187.5% -80.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $55.24M
YoY Change 29.67%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 56.18M 3.900M 1.000M
YoY Change 27.91% -77.59% -95.76%
NET CHANGE
Cash From Operating Activities -50.61M -45.20M -33.60M
Cash From Investing Activities 18.71M 48.30M 8.000M
Cash From Financing Activities 56.18M 3.900M 1.000M
Net Change In Cash 24.24M 7.000M -24.60M
YoY Change -1624.53% -176.09% -214.95%
FREE CASH FLOW
Cash From Operating Activities -$50.61M -$45.20M -$33.60M
Capital Expenditures -$800.0K -$500.0K -$400.0K
Free Cash Flow -$49.81M -$44.70M -$33.20M
YoY Change -24.39% 4.68% -22.79%

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CY2018 us-gaap Revenue Recognition Revenue Reductions
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In reaching the determination that such payments should be recorded as revenue, management considered 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&#8217;s core operations. Further, management has consistently applied its policy of presenting such amounts as revenue.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2018 us-gaap Use Of Estimates
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CY2018 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin: 0px 0px 0px 0.25in; text-align: justify;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;"><div style="font-weight:bold;display:inline;">Concentration of Credit Risk</div></div></div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); background: none; text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; margin-right: 0px;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">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 asset-backed securities, high-grade corporate debt securities and money market funds, 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.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2018Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
11200000
CY2017Q4 us-gaap Accumulated Other Comprehensive Income Loss Foreign Currency Translation Adjustment Net Of Tax
AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax
8600000
CY2017Q1 us-gaap Cumulative Effect Of New Accounting Principle In Period Of Adoption
CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption
600000
CY2018Q4 us-gaap Supplies
Supplies
11974000
CY2017Q4 us-gaap Supplies
Supplies
13085000
CY2018Q4 us-gaap Other Assets Current
OtherAssetsCurrent
4321000
CY2017Q4 us-gaap Other Assets Current
OtherAssetsCurrent
4689000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
64109000
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
65293000
CY2018Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
35683000
CY2017Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
29306000
CY2018Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
9632000
CY2017Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
11186000
CY2018Q4 nvax Research And Development Accruals
ResearchAndDevelopmentAccruals
8476000
CY2017Q4 nvax Research And Development Accruals
ResearchAndDevelopmentAccruals
17542000
CY2018Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1442000
CY2017Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
882000
CY2018 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7400000
CY2017 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7600000
CY2016 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
7700000
CY2016Q1 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
325000000
CY2016Q1 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
315000000
CY2016Q1 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
5.56
CY2016Q1 nvax Payment For Capped Call Transactions
PaymentForCappedCallTransactions
38500000
CY2016Q1 nvax Debt Cap Price
DebtCapPrice
9.73
CY2016Q1 nvax Adjustments To Additional Paid In Capital Expenses Related To Capped Call Transaction
AdjustmentsToAdditionalPaidInCapitalExpensesRelatedToCappedCallTransaction
900000
CY2018Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0375
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0226
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0310
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0161
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0234
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0097
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0178
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.9331
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.1561
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.8891
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.1410
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.5786
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
1.0888
CY2018 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
1
CY2018 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
0.04
CY2018 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1200000
CY2017 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1500000
CY2016 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
1500000
CY2018Q1 us-gaap Revenues
Revenues
9653000
CY2018Q2 us-gaap Revenues
Revenues
10773000
CY2018Q3 us-gaap Revenues
Revenues
7735000
CY2018Q4 us-gaap Revenues
Revenues
6127000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
-46352000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
-44492000
CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-44570000
CY2018Q4 us-gaap Net Income Loss
NetIncomeLoss
-49334000
CY2018Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.14
CY2018Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.12
CY2018Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.12
CY2018Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.13
CY2017Q1 us-gaap Revenues
Revenues
5680000
CY2017Q2 us-gaap Revenues
Revenues
6732000
CY2017Q3 us-gaap Revenues
Revenues
8352000
CY2017Q4 us-gaap Revenues
Revenues
10412000
CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
-43854000
CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
-44465000
CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
-44607000
CY2017Q4 us-gaap Net Income Loss
NetIncomeLoss
-50843000
CY2017Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.16
CY2017Q2 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.16
CY2017Q3 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.15
CY2017Q4 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.16
CY2018Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
270177000
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards State And Local
DeferredTaxAssetsOperatingLossCarryforwardsStateAndLocal
240550000
CY2018Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
12321000
CY2017Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Foreign
DeferredTaxAssetsOperatingLossCarryforwardsForeign
11577000
CY2018Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
33633000
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.3
CY2017Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
27571000
CY2018Q4 nvax Deferred Tax Assets Original Discount Interest
DeferredTaxAssetsOriginalDiscountInterest
5687000
CY2017Q4 nvax Deferred Tax Assets Original Discount Interest
DeferredTaxAssetsOriginalDiscountInterest
7167000
CY2018Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
7987000
CY2017Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
9116000
CY2018Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
340693000
CY2017Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
304029000
CY2018Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
337515000
CY2017Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
299862000
CY2018Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
3178000
CY2017Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
4167000
CY2018Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
1492000
CY2017Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
1789000
CY2018Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
-1686000
CY2017Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
-2378000
CY2018Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
3178000
CY2017Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
4167000
CY2018Q4 nvax Deferred Tax Assets Liabilities Gross
DeferredTaxAssetsLiabilitiesGross
0
CY2017Q4 nvax Deferred Tax Assets Liabilities Gross
DeferredTaxAssetsLiabilitiesGross
0
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.34
CY2018 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.03
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.03
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
-0.03
CY2018 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.03
CY2017 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.02
CY2016 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
EffectiveIncomeTaxRateReconciliationTaxCreditsResearch
-0.02
CY2018 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.01
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.01
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.02
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.05
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0.7
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
0
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.21
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.37
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0
CY2018 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
5000000
CY2017 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
8400000
CY2016 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
7000000
CY2018 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
37700000
CY2018 nvax Aggregate Payments Made Per License Agreement
AggregatePaymentsMadePerLicenseAgreement
11600000
CY2017 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-132000000
CY2018 nvax Sharebased Compensation Arrangement By Sharebased Payment Award Equity Instruments Other Than Options Forfeited In Period Value
SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriodValue
0
CY2018Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
10888000
CY2017Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
8048000
CY2018Q1 nvax Payment For Milestones
PaymentForMilestones
4000000
CY2017 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
-54700000
CY2018 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
12188000
CY2018Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2017Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
CY2018 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
0
CY2018 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
0
CY2018Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0
CY2017Q4 us-gaap Available For Sale Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0
CY2018 dei Document Type
DocumentType
10-K
CY2018 nvax Defined Contribution Plan Cost And Other Expenses
DefinedContributionPlanCostAndOtherExpenses
800000
CY2017 nvax Defined Contribution Plan Cost And Other Expenses
DefinedContributionPlanCostAndOtherExpenses
500000
CY2016 nvax Defined Contribution Plan Cost And Other Expenses
DefinedContributionPlanCostAndOtherExpenses
500000
CY2017 us-gaap Proceeds From Repayments Of Notes Payable
ProceedsFromRepaymentsOfNotesPayable
0
CY2018 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0
CY2017 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0
CY2018 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
CY2017 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
CY2018 nvax Payment For Capped Call Transactions And Expenses
PaymentForCappedCallTransactionsAndExpenses
0
CY2017 nvax Payment For Capped Call Transactions And Expenses
PaymentForCappedCallTransactionsAndExpenses
0
CY2016 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0
CY2018 dei Amendment Flag
AmendmentFlag
false
CY2018 dei Document Period End Date
DocumentPeriodEndDate
2018-12-31
CY2018 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
CY2018 dei Entity Small Business
EntitySmallBusiness
true
CY2017 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2016 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
0
CY2018 us-gaap Increase Decrease In Other Noncurrent Liabilities
IncreaseDecreaseInOtherNoncurrentLiabilities
0
CY2018 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
0
CY2017 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
0
CY2018 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2018 dei Entity Registrant Name
EntityRegistrantName
NOVAVAX INC
CY2018 dei Entity Central Index Key
EntityCentralIndexKey
0001000694
CY2018 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2018 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2018 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2018 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2018 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2018Q2 dei Entity Public Float
EntityPublicFloat
505900000
CY2018 dei Trading Symbol
TradingSymbol
NVAX
CY2019Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
441344182
CY2018 dei Entity Shell Company
EntityShellCompany
false
CY2018 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false

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