Navigation Links
Novavax Reports First Quarter 2009 Financial Results
Date:5/8/2009

r of this year.
  • Improved the balance sheet by retiring $17.0 million out of the total $22.0 million principle amount of outstanding convertible notes. These notes carried a coupon rate of 4.75% payable semi-annually and had a maturity date of July 15, 2009. Under the terms of the early retirement, Novavax paid 70% of the principal plus accrued and unpaid interest, or $12.1 million, in cash and issued 2,040,000 shares of its common stock for the remaining 30% of the principal, valued in the transaction as approximately $5.1 million. The remaining $5.0 million in outstanding convertible notes will be due on July 15, 2009 and can be paid up to 50% in stock at maturity at Novavax's option.
  • Increased liquidity by raising $11.0 million from sale of 12.5 million shares of common stock to a wholly owned subsidiary of Cadila Pharmaceuticals and raising approximately $7.5 million from the sale of approximately 3.1 million shares of common stock under the sales agreement with Wm Smith & Co.

  • "We are pleased with the significant clinical, corporate, and financial progress we have made in the past few months," said Dr. Rahul Singhvi, Novavax's President and Chief Executive Officer. "We have made substantial progress in advancing our VLP based influenza vaccines over the past three years. The recent emergence of the novel influenza A (H1N1) virus highlights the potential value of our recombinant VLP technology as we can produce a genetically matched vaccine to the outbreak strain in about half the time of traditional vaccine technologies. We are in communication with governments and health authorities around the world and will help in any way possible. With the improvement in our financial position, we are in a much stronger position to continue development of our vaccine pipeline and pursue partnerships."

    The anticipated milestones for the remainder of 2009 include:

    <
    '/>"/>
    SOURCE Novavax, Inc.
    Copyright©2009 PR Newswire.
    All rights reserved

    Page: 1 2 3 4 5 6 7 8

    Related biology technology :

    1. Novavax Announces Enrollment in the Second Phase II Study of its Seasonal Influenza VLP Vaccine Candidate
    2. Novavax Announces Release Date of 2009 First Quarter, Financial Results and Investor Conference Call
    3. Novavax Announces Early Retirement of $17 Million of Convertible Debt
    4. NOVAVAX Announces Publication of a Preclinical Study Demonstrating that a Virus-like Particle Vaccine Provided Protection Against Highly Pathogenic H1N1 and H5N1 Influenza Strains
    5. Novavax Announces New Capital Infusion Through a Strategic Alliance with Cadila Pharmaceuticals of India
    6. Novavax Announces New Release Date of 2008 Fourth Quarter Financial Results and Investor Conference Call
    7. Novavax Announces Release Date of 2008 Fourth Quarter Financial Results and Investor Conference Call
    8. Novavax to Present at Cowen and Company 29th Annual Healthcare Conference
    9. NOVAVAX Announces Preclinical Study Results for a Respiratory Syncytial Virus (RSV) Vaccine Candidate Directed Against the Fusion (F) Protein
    10. Novavax and Vivalis Sign a Research License Agreement to Use the EB66(R) Cell Line for the Production of Virus Like Particle Based Vaccines
    11. Novavax Announces Operational Status of Its Vaccine Pilot Plant and Commercial Launch Facility
    Post Your Comments:
    *Name:
    *Comment:
    *Email:
    (Date:9/18/2014)...  Neogen Corporation (Nasdaq: NEOG ) announced ... with Merck Animal Health to market Neogen,s Igenity ® ... Dairy Heifer Program consists of genomic tests that offer ... of replacement dairy heifers. The genomic tests can be ... an excellent tool in the decision-making process for breeding ...
    (Date:9/18/2014)... , Sept. 18, 2014   Sigma-Aldrich ... it has entered into a new gene editing ... School,s Vector Core. Under the partnership, Sigma-Aldrich will ... experimental design consultation, and dedicated gene editing bioinformaticians. ... gene editing-based research at the U-M Medical School. ...
    (Date:9/18/2014)... group of rare diseases that afflict skeletal growth ... hits at the fetal stage and is caused ... encoding fibroblast growth factor receptor 3 (FGFR3) has ... thanatophoric dysplasia (TD), a skeletal dysplasia that cause ... lethal, and achondroplasia (ACH), which causes stunted growth ...
    (Date:9/18/2014)... microscopy technology that allows them to view single ... Dubbed "Complementation Activated Light Microscopy" (CALM), the new ... of magnitude finer than conventional optical microscopy, providing ... the nanometer scale. , In a paper published ... the researchers behind CALM used it to study ...
    Breaking Biology Technology:Merck Animal Health to market Neogen's dairy genomic program 2Sigma-Aldrich, University of Michigan Medical School Establish CRISPR Core Lab Partnership 2Sigma-Aldrich, University of Michigan Medical School Establish CRISPR Core Lab Partnership 3Sigma-Aldrich, University of Michigan Medical School Establish CRISPR Core Lab Partnership 4Researchers use iPS cells to show statin effects on diseased bone 2Researchers use iPS cells to show statin effects on diseased bone 3Scientists pioneer microscopy technique that yields fresh data on muscular dystrophy 2
    ... has deployed Procuri Totalsource sourcing solution to ... U.S. breweries and increase savings through the streamlining ... ,Procuri, based in Atlanta, also provides software to ... Association, Eastman Kodak, ITT Industries, KLM Royal Dutch ...
    ... USDA Forest Service Forest Products Laboratory (FPL) have joined ... industry in an effort to reduce the economic costs ... business and government offices while simultaneously improving ... some 500,000 tons of bleached kraft paper, which includes ...
    ... University of Wisconsin-Platteville will be one of ... program offered by the University of California-Irvine, the ... Management Certificate Program will offer professionals access to ... advancement in the workplace. The UC Irvine Extension's ...
    Cached Biology Technology:Reducing brightness to make a better paper 2Reducing brightness to make a better paper 3
    (Date:9/17/2014)... and his doctoral student have designed a device based ... from fog and dew., The device could provide water ... the globe., Cheng Luo, professor in the Mechanical & ... the same College of Engineering department, published "Bioinspired Plate-Based ... (American Chemical Society) Applied Materials & Interfaces ...
    (Date:9/17/2014)... (Sept. 17, 2014) A rare genetic disorder known as ... a recent joint investigation by researchers at San Diego ... In addition to suggesting better treatment options for people ... into the genetic underpinnings of autism., Jacobsen syndrome affects ... Institutes of Health. It occurs in a person when ...
    (Date:9/17/2014)... Campaigns against disposable plastic shopping bags and their environmental ... lawmakers passed the first statewide ban on the bags, ... But the plastic bag industry is not yielding without ... & Engineering News , the weekly newsmagazine of the ... with C&EN, reports that the anti-bag campaign logged its ...
    Breaking Biology News(10 mins):Shorebird's beak inspires UT Arlington research on water collection 2A link between Jacobsen syndrome and autism 2
    ... "The history of all past society has consisted in ... of society by the other". Karl Marx and ... diversity in social groups can increase group well being, ... societies are characterized by struggles for control: which individuals ...
    ... nonprofit research initiative dedicated to preventing pandemics, has ... Skoll Foundation. The support, which includes $5.5 million ... to date from Google.org. GVFI, an organization ... before they become fully established, brings together fieldwork ...
    ... 20 Based on its recent,analysis of ... Frost & Sullivan recognizes Precise Biometrics with ... Emerging Company of the Year for its,high-quality ... offers a software combination of smart card ...
    Cached Biology News:Caste in the colony 2Global Viral Forecasting Initiative receives $11M to implement pandemic early warning system 2Frost & Sullivan Recognizes Precise Biometrics as a Key Player in the Non-AFIS Fingerprint Market 2Frost & Sullivan Recognizes Precise Biometrics as a Key Player in the Non-AFIS Fingerprint Market 3
    ... Alkaline Phosphatase, Calf Intestinal (CIAP), catalyzes the ... and ribo- and deoxyribonucleoside triphosphates. This enzyme ... of linearized cloning vector DNA by removing ... also be used for the dephosphorylation of ...
    Trypsin (Pig Pancreas) (TPCK Treated, Highly Purified)...
    100 adhesive strips....
    Homo sapiens palladin...
    Biology Products: