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Novavax Reports Second Quarter 2009 Financial Results
Date:8/7/2009

oration; the cost of filing, prosecuting, defending and enforcing any patent claims and other intellectual property rights; our ability to obtain rights to technology; competition for clinical resources and patient enrollment from drug candidates in development by other companies with greater resources and visibility; our ability to obtain adequate financing in the future through product licensing, co-promotional arrangements, public or private equity or debt financing or otherwise; general business conditions; competition; business abilities and judgment of personnel; and the availability of qualified personnel. Further information on the factors and risks that could affect Novavax's business, financial conditions and results of operations, is contained in Novavax's filings with the U.S. Securities and Exchange Commission, which are available at www.sec.gov. These forward-looking statements speak only as of the date of this press release, and Novavax assumes no duty to update forward-looking statements.

                                   NOVAVAX, INC.
                       CONSOLIDATED STATEMENTS OF OPERATIONS
               (in thousands, except share and per share information)
                                   (unaudited)

                                    Three months ended      Six months ended
                                        June 30,                June 30,
                                        --------                --------
                                    2009      2008          2009       2008
                                    ----      ----          ----       ----
    Revenues                           29        342           50         800
                                       --        ---           --         ---

    Operating costs and
     expenses:
       Research and development     5,297      5,380        9,563     
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SOURCE Novavax, Inc.
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