<SEC-DOCUMENT>0001144204-13-043812.txt : 20130808
<SEC-HEADER>0001144204-13-043812.hdr.sgml : 20130808
<ACCEPTANCE-DATETIME>20130808093203
ACCESSION NUMBER:		0001144204-13-043812
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		12
CONFORMED PERIOD OF REPORT:	20130630
FILED AS OF DATE:		20130808
DATE AS OF CHANGE:		20130808

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NOVAVAX INC
		CENTRAL INDEX KEY:			0001000694
		STANDARD INDUSTRIAL CLASSIFICATION:	BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
		IRS NUMBER:				222816046
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		10-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26770
		FILM NUMBER:		131020211

	BUSINESS ADDRESS:	
		STREET 1:		9920 BELWARD CAMPUS DRIVE
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850
		BUSINESS PHONE:		240-268-2000

	MAIL ADDRESS:	
		STREET 1:		9920 BELWARD CAMPUS DRIVE
		CITY:			ROCKVILLE
		STATE:			MD
		ZIP:			20850
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>v350840_10q.htm
<DESCRIPTION>FORM 10-Q
<TEXT>
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<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES SECURITIES AND EXCHANGE
COMMISSION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Form 10-Q</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.6in"><FONT STYLE="font: 10pt Wingdings">x</FONT></TD><TD><B>QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in"><B>For the quarterly period ended June 30, 2013</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">OR</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.2in"></TD><TD STYLE="width: 0.6in"><FONT STYLE="font: 10pt Wingdings"><B>&uml;</B></FONT></TD><TD><B>TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in"><B>For the transition period from &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;to &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.8in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File No. 0-26770</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">&nbsp;</P>

<P STYLE="font: 24pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>NOVAVAX, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="width: 4%; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 48%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>22-2816046</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(State or other jurisdiction of</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">incorporation or organization)</P></TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(I.R.S. Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Identification No.)</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>9920 Belward Campus Drive, Rockville,
        MD</B></P></TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>20850</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(Zip code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(240) 268-2000</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: black">Indicate
by check mark whether the </FONT>Registrant<FONT STYLE="color: black">: (1) has filed all reports required to be filed by Section
13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant
was required to file such reports), and (2) has been subject to such filing requi</FONT>rements for the past 90 days. Yes <FONT STYLE="font-family: Wingdings">x</FONT>
No <FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.2in">Indicate by check mark
whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required
to be submitted and posted pursuant to Rule&nbsp;405 of Regulation&nbsp;S-T (&sect;232.405 of this chapter) during the preceding
12&nbsp;months (or for such shorter period that the registrant was required to submit and post such files). Yes <FONT STYLE="font: 10pt Wingdings">x</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">
No </FONT><FONT STYLE="font: 10pt Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.2in">Indicate by check mark
whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.
See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo;
in Rule 12b-2 of the Exchange Act. (Check one):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 22%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Large accelerated filer <FONT STYLE="font-family: Wingdings">&uml;</FONT></FONT></TD>
    <TD STYLE="width: 18%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Accelerated filer&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">x</FONT></FONT></TD>
    <TD NOWRAP STYLE="width: 36%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Non-accelerated filer&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></FONT><BR>
<FONT STYLE="font-size: 10pt; color: black">(Do not check if a smaller reporting company)</FONT></TD>
    <TD NOWRAP STYLE="width: 24%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt; color: black">Smaller reporting company <FONT STYLE="font-family: Wingdings">&uml;</FONT></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.2in"><FONT STYLE="color: black">Indicate
by check mark whether </FONT>the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes <FONT STYLE="font-family: Wingdings">&uml;</FONT>
No <FONT STYLE="font-family: Wingdings">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.2in">The number of shares
outstanding<FONT STYLE="color: black"> of the Registrant&rsquo;s Common Stock, $0.01 par value, was 152,718,326 as of July 30,
2013.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.2in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOVAVAX, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="2"></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt"><B>Page&nbsp;No.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>PART I. FINANCIAL INFORMATION</B></FONT></TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="width: 12%">&nbsp;</TD>
    <TD STYLE="width: 78%">&nbsp;</TD>
    <TD STYLE="width: 2%; text-align: right">&nbsp;</TD>
    <TD STYLE="width: 8%; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Item 1.</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Financial Statements</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 10pt">Balance Sheets as of June 30, 2013 (unaudited) and December 31, 2012</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 10pt">Statements of Operations and Statements of Comprehensive Loss for the three and six months ended June 30, 2013 and 2012 (unaudited)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">2</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 10pt">Statements of Cash Flows for the six months ended June 30, 2013 and 2012 (unaudited)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">3</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Notes to the Financial Statements (unaudited)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">4</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Item 2.</FONT></TD>
    <TD STYLE="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 10pt">Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">13</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Item 3.</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Quantitative and Qualitative Disclosures about Market Risk</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">27</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Item 4.</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Controls and Procedures</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">28</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top; font-weight: bold; text-indent: 0in; font-style: italic">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-indent: 0in; font-style: italic">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: right; text-indent: 0in; font-style: italic">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-weight: bold; text-align: right; text-indent: 0in; font-style: italic">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD COLSPAN="2" STYLE="vertical-align: top; font-weight: bold; text-indent: 0in; font-style: italic"><FONT STYLE="font-size: 10pt; font-style: normal">PART II. OTHER INFORMATION</FONT></TD>
    <TD STYLE="vertical-align: top; font-weight: bold; text-align: right; text-indent: 0in; font-style: italic">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; font-weight: bold; text-align: right; text-indent: 0in; font-style: italic">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Item 1A.</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Risk Factors</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">28</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Item 6.</FONT></TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Exhibits</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">29</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,255,204)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt"><B>SIGNATURES</B></FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: right">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">30</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART I. FINANCIAL INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 1. Financial Statements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOVAVAX, INC.</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BALANCE SHEETS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(in thousands, except share and per
share information)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="color: black; font-weight: bold; text-align: center">June 30,</TD><TD NOWRAP STYLE="color: black; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="color: black; font-weight: bold; text-align: center">December 31,</TD><TD NOWRAP STYLE="color: black; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">(unaudited)</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD COLSPAN="8" STYLE="color: black; font-weight: bold; text-align: center">ASSETS</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Current assets:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 74%; text-align: left; padding-left: 7.25pt">Cash and cash equivalents</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">2,574</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">17,399</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-left: 7.25pt">Short-term investments available-for-sale</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">38,025</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,712</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 7.25pt">Restricted cash</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">986</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 16.25pt">Accounts receivables</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">907</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,011</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 16.25pt">Unbilled receivables</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,815</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,570</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 16.25pt">Prepaid expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,024</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,559</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 7.25pt">Other current assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">20</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">171</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 7.25pt">Total current assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">45,365</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">50,408</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Investments available-for-sale</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,233</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Property and equipment, net</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">13,320</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,456</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Goodwill</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33,141</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">33,141</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Restricted cash</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">757</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">756</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Other non-current assets</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">335</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">351</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 11.75pt">Total assets</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">92,918</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">102,345</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD COLSPAN="8" STYLE="font-weight: bold; text-align: center">LIABILITIES AND STOCKHOLDERS&rsquo; EQUITY</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Current liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 7.25pt">Accounts payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2,946</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3,228</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 7.25pt">Accrued expenses and other current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,223</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,275</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 7.25pt">Deferred revenue</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">258</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 7.25pt">Current portion of capital lease</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">60</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">58</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 7.25pt">Current portion of notes payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">571</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">157</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 6.75pt">Warrant liability</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">267</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 7.25pt">Deferred rent</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">456</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">432</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 16.25pt">Total current liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,256</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">11,675</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 7.25pt">Deferred revenue</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 7.25pt">Non-current portion of capital lease</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">206</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">237</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 7.25pt">Non-current portion of notes payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,653</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">753</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 7.25pt">Deferred rent</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8,077</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,940</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 16.25pt">Total liabilities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">23,692</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">22,105</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 16.25pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Commitments and contingences</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Stockholders&rsquo; equity:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 16.25pt">Preferred stock, $0.01 par value, 2,000,000 shares authorized; no shares issued and outstanding</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 16.25pt">Common stock, $0.01 par value, 300,000,000 shares
    authorized at June 30, 2013 and 200,000,000 shares authorized at December 31, 2012; and 153,165,006 shares issued and 152,709,576 shares outstanding at June 30, 2013 and 148,398,747 shares issued
    and 147,943,317 shares outstanding at December 31, 2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,532</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,484</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 7.25pt">Additional paid-in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">450,300</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">438,939</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 7.25pt">Accumulated deficit</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(380,793</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(358,163</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 16.25pt">Treasury stock, 455,430 shares, cost basis</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,450</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,450</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -9pt; padding-left: 16.25pt">Accumulated other comprehensive income</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">637</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">430</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 16.25pt">Total stockholders&rsquo; equity</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">69,226</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">80,240</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 16.25pt">Total liabilities and stockholders&rsquo; equity</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">92,918</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">102,345</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part
of these financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOVAVAX, INC.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">STATEMENTS OF OPERATIONS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(in thousands, except per share information)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(unaudited)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: black"><B>For&nbsp;the&nbsp;Three&nbsp;Months</B></FONT><BR> <FONT STYLE="font-size: 10pt; color: black"><B><U STYLE="text-decoration: none; vertical-align: baseline">Ended&nbsp;June&nbsp;30,</U></B></FONT></TD><TD NOWRAP STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: black"><B>For&nbsp;the&nbsp;Six&nbsp;Months</B></FONT><BR> <FONT STYLE="font-size: 10pt; color: black"><B><U STYLE="text-decoration: none; vertical-align: baseline">Ended&nbsp;June&nbsp;30,</U></B></FONT></TD><TD NOWRAP STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Revenue:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 48%; text-align: left; padding-left: 11.75pt">Government contracts</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3,276</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">7,103</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">6,717</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">11,745</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 11.75pt">Research and development collaborations</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">255</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt"><U STYLE="text-decoration: none; vertical-align: baseline">&#8213;</U></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">648</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt"><U STYLE="text-decoration: none; vertical-align: baseline">&#8213;</U></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 20.75pt">Total revenue</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,531</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,103</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,365</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">11,745</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Costs and expenses:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 11.75pt">Cost of government contracts revenue</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,632</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,118</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">3,344</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">8,903</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 11.75pt">Research and development</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,785</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,371</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,041</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,627</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 11.75pt">General and administrative</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,012</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,469</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,882</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,537</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 20.75pt">Total costs and expenses</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">16,429</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,958</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">30,267</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">25,067</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Loss from operations</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12,898</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,855</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(22,902</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(13,322</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Other income (expense):</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 11.75pt">Interest income</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">48</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">39</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">95</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">72</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 11.75pt">Interest expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(45</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(68</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 11.75pt">Change in fair value of warrant liability</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">267</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(101</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">267</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt"><U STYLE="text-decoration: none; vertical-align: baseline">&#8213;</U></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Loss from operations before income tax</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(12,628</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(5,920</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(22,608</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(13,256</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Income tax expense</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt"><U STYLE="text-decoration: none; vertical-align: baseline">&#8213;</U></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">22</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&#8213;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net loss</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(12,633</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(5,920</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(22,630</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(13,256</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Basic and diluted net loss per share</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(0.08</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(0.05</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(0.15</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(0.11</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: -9pt; padding-left: 9pt">Basic and diluted weighted average number of common shares outstanding</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">152,312</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">126,925</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">150,391</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">123,741</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>STATEMENTS OF COMPREHENSIVE LOSS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(in thousands)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(unaudited)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: black"><B>For&nbsp;the&nbsp;Three&nbsp;Months</B></FONT><BR> <FONT STYLE="font-size: 10pt; color: black"><B><U STYLE="text-decoration: none; vertical-align: baseline">Ended&nbsp;June&nbsp;30,</U></B></FONT></TD><TD NOWRAP STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: black"><B>For&nbsp;the&nbsp;Six&nbsp;Months</B></FONT><BR> <FONT STYLE="font-size: 10pt; color: black"><B><U STYLE="text-decoration: none; vertical-align: baseline">Ended&nbsp;June&nbsp;30,</U></B></FONT></TD><TD NOWRAP STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Comprehensive loss:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 48%; text-align: left">Net loss</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(12,633</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(5,920</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(22,630</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(13,256</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -7.25pt; padding-left: 7.25pt">Unrealized gain (loss) on investments available-for-sale</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">168</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(36</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">207</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">108</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Comprehensive loss</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(12,465</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(5,956</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(22,423</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(13,148</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part
of these financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOVAVAX, INC.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">STATEMENTS OF CASH FLOWS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(in thousands)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(unaudited)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: black"><B>For&nbsp;the&nbsp;Six&nbsp;Months</B></FONT><BR> <FONT STYLE="font-size: 10pt; color: black"><B><U STYLE="text-decoration: none; vertical-align: baseline">Ended&nbsp;June&nbsp;30,</U></B></FONT></TD><TD NOWRAP STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: center">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Operating Activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; text-align: left; padding-left: 7.25pt">Net loss</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(22,630</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(13,256</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 16.25pt">Reconciliation of net loss to net cash used in operating activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 20.75pt">Change in fair value of warrant liability</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(267</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 20.75pt">Depreciation and amortization</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">961</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">810</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 20.75pt">Amortization of net premiums on investments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">232</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 20.75pt">Gain on disposal of property and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(43</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(19</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 20.75pt">Deferred rent</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">458</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">251</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-left: 20.75pt">Non-cash stock-based compensation</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,121</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,176</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 7.25pt">Changes in operating assets and liabilities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 20.75pt">Restricted cash</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">986</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 20.75pt">Accounts receivables</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">104</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">467</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 20.75pt">Unbilled receivables</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(245</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(2,395</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 20.75pt">Prepaid expenses and other assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">702</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">58</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 20.75pt">Accounts payable and accrued expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(40</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">461</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 20.75pt">Deferred revenue</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(258</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 20.75pt">Lease incentives received</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">703</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,101</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 7.25pt">Net cash used in operating activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(18,216</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(10,346</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left">Investing Activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 16.25pt">Capital expenditures</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3,157</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1,076</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 16.25pt">Proceeds from disposal of property and equipment</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">81</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">167</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 16.25pt">Proceeds from maturities of investments</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,649</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2,500</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt; text-indent: -9pt; padding-left: 16.25pt">Purchases of investments</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(14,754</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(9,389</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 7.25pt">Net cash used in investing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(8,181</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(7,798</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Financing Activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 7.25pt">Principal payments of capital lease</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(29</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 7.25pt">Principal payments of notes payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(136</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(20</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-left: 7.25pt">Proceeds from notes payable</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,450</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">100</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; text-indent: -10.75pt; padding-left: 0.25in">Restricted cash</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(1</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(755</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -10.75pt; padding-left: 0.25in">Net proceeds from sales of common stock, net of offering costs of $0.3 million and $0.3 million, respectively</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,018</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,023</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 7.25pt">Proceeds from the exercise of stock options</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">270</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">26</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 7.25pt">Net cash provided by financing activities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">11,572</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">19,374</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-left: 7.25pt">Net (decrease) increase in cash and cash equivalents</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(14,825</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1,230</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 7.25pt">Cash and cash equivalents at beginning of period</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">17,399</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">14,104</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 7.25pt">Cash and cash equivalents at end of period</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,574</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">15,334</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Supplemental disclosure of non-cash activities:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 7.25pt">Property and equipment purchases included in accounts payable and accrued expenses</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,026</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">278</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 7.25pt">Deposit applied towards the purchase of laboratory equipment</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt; text-underline-style: double"><U STYLE="text-decoration: none; vertical-align: baseline">&mdash;</U></FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">500</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Supplemental disclosure of cash flow information:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 7.25pt">Cash payments of interest</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">61</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 10pt; text-underline-style: double; vertical-align: baseline">&mdash;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part
of these financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOVAVAX, INC.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTES TO FINANCIAL STATEMENTS<BR>
June 30, 2013</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(unaudited)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Note 1 &ndash; Organization</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Novavax, Inc. (the
&ldquo;Company&rdquo;) is a clinical-stage biopharmaceutical company focused on developing recombinant protein nanoparticle vaccines
to address a broad range of infectious diseases. The Company&rsquo;s technology platform is based on proprietary recombinant vaccine
technology that includes virus-like particles (&ldquo;VLPs&rdquo;) and recombinant protein micelle vaccines combined with a single-use
bioprocessing production system. These vaccine candidates are genetically engineered three-dimensional nanostructures that incorporate
immunologically important recombinant proteins. The Company&rsquo;s product pipeline targets a variety of infectious diseases with
vaccine candidates currently in mid-stage clinical development for seasonal influenza, pandemic influenza and respiratory syncytial
virus (&ldquo;RSV&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">Note 2 &ndash; Operations</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company&rsquo;s
vaccine candidates currently under development will require significant additional research and development efforts that include
extensive pre-clinical and clinical testing, and regulatory approval prior to commercial use. The Company&rsquo;s research and
development efforts may not be successful and any potential vaccine candidates may not prove to be safe and effective during clinical
development. Even if developed, these vaccine candidates may not receive regulatory approval or be successfully introduced and
marketed at prices that would permit the Company to operate profitably. The commercial launch of any vaccine is subject to significant
risks including, but not limited to, manufacturing scale-up and market acceptance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As a clinical-stage
biopharmaceutical company, the Company has primarily funded its operations from proceeds through the sale of its common stock in
equity offerings and under its At Market Issuance Sales Agreements and revenue under its contract with the Department of Health
and Human Services, Biomedical Advanced Research and Development Authority (&ldquo;HHS BARDA&rdquo;). Management regularly reviews
the Company&rsquo;s cash and cash equivalents and investments against its operating budget to ensure the Company will have sufficient
working capital, and will continue to draw upon such available sources of capital to meet its operating needs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Note 3 &ndash; Summary
of Significant Accounting Policies</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B><I>Basis of Presentation</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The accompanying unaudited
financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America
(&ldquo;U.S. GAAP&rdquo;) for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X.
The balance sheet as of June 30, 2013, statements of operations and statements of comprehensive loss for the three and six months
ended June 30, 2013 and 2012 and the statements of cash flows for the six months ended June 30, 2013 and 2012 are unaudited, but
include all adjustments (consisting of normal recurring adjustments) that the Company considers necessary for a fair presentation
of the financial position, operating results, comprehensive loss and cash flows, respectively, for the periods presented. Although
the Company believes that the disclosures in these financial statements are adequate to make the information presented not misleading,
certain information and footnote information normally included in financial statements prepared in accordance with U.S. GAAP have
been condensed or omitted pursuant to the rules and regulations of the United States Securities and Exchange Commission (&ldquo;SEC&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Results for any interim
period are not necessarily indicative of results for any future interim period or for the entire year. The accompanying unaudited
financial statements should be read in conjunction with the financial statements and notes thereto included in the Company&rsquo;s
Annual Report on Form 10-K for the year ended December 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B><I>Use of Estimates</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The preparation of
the financial statements in conformity with U.S. GAAP 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 financial statements and
the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from these estimates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B><I>Fair Value Measurements
</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company applies
Accounting Standards Codification (&ldquo;ASC&rdquo;) Topic 820, <I>Fair Value Measurements and Disclosures</I>, for financial
and non-financial assets and liabilities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">ASC 820 discusses valuation
techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash
flow) and the cost approach (cost to replace the service capacity of an asset or replacement cost). The statement utilizes a fair
value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following
is a brief description of those three levels:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets
or liabilities.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Level 2: Inputs other than quoted prices that are observable for the asset or liability, either
directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical
or similar assets or liabilities in markets that are not active.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Level 3: Unobservable inputs that reflect the reporting entity&rsquo;s own assumptions.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Investments</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Investments consist
of commercial paper, corporate notes and an investment in one auction rate security. Classification of marketable securities between
current and non-current is dependent upon the original maturity date at purchase. Those securities purchased with original maturities
greater than 90 days, but less than one year are classified as current and those with greater than one year are classified as non-current.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Interest and dividend
income is recorded when earned and included in interest income. Premiums and discounts, if any, on investments are amortized or
accreted to maturity and included in interest income. The specific identification method is used in computing realized gains and
losses on the sale of the Company&rsquo;s securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company has classified
its investments as available-for-sale since the Company may need to liquidate these securities within the next year. The available-for-sale
securities are carried at fair value and unrealized gains and losses on these securities, if determined to be temporary, are included
in accumulated other comprehensive income (loss) in stockholders&rsquo; equity. Investments are evaluated periodically to determine
whether a decline in value is &ldquo;other-than-temporary.&rdquo; The term &ldquo;other-than-temporary&rdquo; is not intended to
indicate a permanent decline in value. Rather, it means that the prospects for a near term recovery of value are not necessarily
favorable, or that there is a lack of evidence to support fair values equal to, or greater than, the carrying value of the security.
Management reviews criteria, such as the magnitude and duration of the decline, as well as the Company&rsquo;s ability to hold
the securities until market recovery, to predict whether the loss in value is other-than-temporary. If a decline in value is determined
to be other-than-temporary, the value of the security is reduced and the impairment is recorded in the statement of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



<P STYLE="margin: 0"></P>
<P STYLE="margin: 0"></P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">Restricted Cash</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company&rsquo;s
restricted cash includes payments received under the PATH agreement (See Note 8) until such time as the Company has paid for the
work performed for the related Phase 2 RSV clinical trial. In addition, the Company&rsquo;s non-current restricted cash with respect
to its new manufacturing, laboratory and office space in Gaithersburg, Maryland functions as collateral for letters of credit,
which serve as security deposits for the duration of the leases.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B><I>Net Loss per Share</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Net loss per share
is computed using the weighted average number of shares of common stock outstanding. All outstanding warrants, stock options and
unvested restricted stock awards totaling 15,832,208<B> </B>shares and 13,110,708 shares at June 30, 2013 and 2012, respectively,
are excluded from the computation, as their effect is antidilutive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B><I>Reclassifications</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Within the June
30, 2012 statement of operations, certain overhead expenses relating to supply chain management of $0.4 million have been
reclassified from general and administrative expenses to research and development expenses. Also, within the June 30, 2012
statement of cash flows, additional lease incentives received of $1.1 million recorded in the change in accounts payable and
accrued expenses have been reclassified and are included in the change in lease incentives received. All of these
reclassifications have been made to conform to current year presentation. In its Quarterly Report on Form 10-Q for the period
ended March 31, 2013, the Company had recorded $0.2 million and reclassified $0.1 million of patent costs from general and
administrative expenses to research and development expenses for the three months ended March 31, 2013 and 2012,
respectively. The Company subsequently determined that patent costs should remain as a general and administrative expense and
these costs have been shown as a general and administrative expense for all periods presented herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Note 4 &ndash; Fair Value Measurements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">The
following table represents the Company&rsquo;s fair value hierarchy for its financial assets and liabilities measured at fair
value on a recurring basis (in thousands):</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fair Value at June 30, 2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fair Value at December 31, 2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 1</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 2</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Level 3</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-decoration: underline">Assets</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 34%; text-align: left; padding-bottom: 1pt; text-indent: -8pt; padding-left: 8pt">Corporate debt securities and auction rate securities</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 8%; border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 8%; border-bottom: Black 1pt solid; text-align: right">38,025</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 8%; border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 8%; border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 8%; border-bottom: Black 1pt solid; text-align: right">32,945</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="width: 8%; border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="width: 1%; padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total investments</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">38,025</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">32,945</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-decoration: underline">Liabilities</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Warrant liabilities</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">267</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">During
the six months ended June 30, 2013, the Company did not have any transfers between levels.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
provides a reconciliation of the beginning and ending balance of Level 3 assets and liabilities measured on a recurring basis
for the six months ended June 30, 2013 (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 75%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Fair&nbsp;Value&nbsp;Measurements&nbsp;of</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Warrants&nbsp;Using Significant</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Unobservable&nbsp;Inputs</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Level&nbsp;3)</B></P></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 72%">Balance at December 31, 2012</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 25%; text-align: right">267</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Change in fair value of Warrant liability</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(267</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">Balance at June 30, 2013</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The amounts in the
Company&rsquo;s balance sheet for accounts receivables, unbilled receivables and accounts payable approximate fair value due to
their short-term nature. Based on borrowing rates available to the Company, the fair value of capital lease and notes payable
approximates their carrying value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Note 5 &ndash; Investments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Investments classified
as available-for-sale as of June 30, 2013 and December 31, 2012 were comprised of (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="14" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><B>June 30, 2013</B></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><B>&nbsp;</B></TD><TD NOWRAP STYLE="padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="14" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><B>December 31, 2012</B></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Amortized</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Cost</B></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Gross
    </B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>Unrealized </B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>Gains</B></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Gross
    </B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>Unrealized </B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>Losses</B></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fair Value</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Amortized</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Cost</B></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Gross
    </B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>Unrealized </B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>Gains</B></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Gross
    </B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>Unrealized </B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>Losses</B></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Fair Value</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 12%; text-align: left">Auction rate securities</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">1,175</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">635</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">1,810</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">1,175</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">409</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">&mdash;</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">1,584</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Corporate debt securities</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">36,213</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">36,215</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">31,340</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">21</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">31,361</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">Total</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">37,388</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">637</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">38,025</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">32,515</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">430</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">32,945</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Note 6 &ndash; Stockholders&rsquo; Equity</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 13, 2013,
the Company&rsquo;s stockholders of record as of April 16, 2013 approved to amend the Company&rsquo;s certificate of incorporation
to increase the total number of share of Common Stock that the Company is authorized to issue from 200,000,000 shares to 300,000,000
shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Note 7 &ndash; Stock-Based Compensation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B><I>Stock Options</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company has granted
equity awards under several plans. Under the 2005 Stock Incentive Plan (the &ldquo;2005 Plan&rdquo;), equity awards may be granted
to officers, directors, employees, consultants and advisors to the Company and any present or future subsidiary. The 2005 Plan,
approved in May 2005 and amended in June 2007, June 2011, June 2012 and June 2013 by the Company&rsquo;s stockholders, currently
authorizes the grant of equity awards for up to 22,312,192 shares of common stock, which included, at the time of approval of
the 2005 Plan, a maximum 5,746,468 shares of common stock subject to stock options outstanding under the Company&rsquo;s 1995
Stock Option Plan (the &ldquo;1995 Plan&rdquo;) that may revert to and become issuable under the 2005 Plan if such options should
expire or otherwise terminate unexercised. The Company received approval at its 2013 annual meeting of stockholders to increase
the number of shares of common stock available for issuance under the 2005 Plan by 4,000,000 shares. The term of the Company&rsquo;s
1995 Plan has expired. Outstanding stock options remain in existence in accordance with their terms and no new awards will be
made under the 1995 Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the 2005 Plan
and the 1995 Plan, incentive stock options, having a maximum term of 10 years, can be or were granted at no less than 100% of
the fair value of the Company&rsquo;s common stock at the time of grant and are generally exercisable over periods ranging from
six months to four years. There is no minimum exercise price for non-statutory stock options.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><B><I>&nbsp;</I></B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: 0in"><B><I>Stock Options Awards</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following is a summary of option activity
under the 2005 Plan and the 1995 Plan for the six months ended June 30, 2013:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2005 Stock Incentive Plan</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">1995 Stock Option Plan</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Stock </B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>Options</B></FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Weighted-</B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>Average
    </B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>Exercise </B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>Price</B></FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Stock </B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>Options</B></FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Weighted-</B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>Average
    </B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>Exercise </B></FONT><BR> <FONT STYLE="font-size: 10pt"><B>Price</B></FONT></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 56%">Outstanding at January 1, 2013</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">9,143,825</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">1.87</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 8%; text-align: right">211,900</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">4.94</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Granted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">4,007,500</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.89</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Exercised</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(133,917</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.02</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 1pt">Canceled</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(750,008</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1.72</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(23,750</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4.05</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt">Outstanding at June 30, 2013</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">12,267,400</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1.88</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">188,150</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">5.04</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; text-indent: -9pt; padding-left: 9pt">Shares exercisable at June 30, 2013</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">4,662,956</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2.17</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">188,150</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">5.04</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; text-indent: -9pt; padding-left: 9pt">Shares available for grant at June 30, 2013</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">2,518,619</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The fair value of
stock options granted was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 95%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Three Months Ended <BR>June 30,</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">Six Months Ended <BR>June 30,</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt">&nbsp;</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">2012</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 36%; font: 10pt Times New Roman, Times, Serif; text-align: left">Weighted-average fair value of stock options granted</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: center">$1.01</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: center">$0.71</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: center">$1.00</TD><TD STYLE="width: 2%; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: center">$0.71</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Risk-free interest rate</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0.54%-0.96%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0.59%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0.54%-1.34%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0.59%-1.54%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Dividend yield</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Volatility</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">55.81%-66.02%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">75.47%-75.52%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">55.81%-73.72%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">75.47%-80.48%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Expected term (in years)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">3.98-4.25</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">4.24</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">3.98-7.05</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">3.34-7.09</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Expected forfeiture rate</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0%-23.15%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0%-23.15%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0%-23.15%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center">0%-23.15%</TD></TR>
</TABLE>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The aggregate intrinsic
value and weighted-average remaining contractual term of stock options outstanding as of June 30, 2013 was approximately $4.3
million and 7.6<B> </B>years, respectively. The aggregate intrinsic value and weighted-average remaining contractual term of stock
options exercisable as of June 30, 2013 was approximately $1.5 million and 5.6<B> </B>years, respectively. The aggregate intrinsic
value represents the total intrinsic value (the difference between the Company&rsquo;s closing stock price on the last trading
day of the period and the exercise price, multiplied by the number of in-the-money options) that would have been received by the
option holders had all option holders exercised their options on June 30, 2013. This amount is subject to change based on changes
to the fair value of the Company&rsquo;s common stock. The aggregate intrinsic value of options exercised for the six months ended
June 30, 2013 and 2012 was less than $0.1 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"><B><I>Employee Stock Purchase Plan</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company received
approval at its 2013 annual meeting of stockholders to adopt an Employee Stock Purchase Plan (the &ldquo;ESPP&rdquo;), which currently
authorizes an aggregate of 2,000,000 shares of Common Stock to be purchased. The ESPP allows employees to purchase shares of Common
Stock of the Company at each purchase date through payroll deductions of up to a maximum of 15% of their compensation, at 85%
of the lesser of the market price of the shares at the time of purchase or the market price on the beginning date of an option
period (or, if later, the date during the option when the employee was first eligible to participate). The first option period
under the ESPP commenced August 1, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"><B><I>Restricted
Stock Awards</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the 2005 Plan,
the Company has granted restricted stock awards subject to certain performance-based and time-based vesting conditions which,
if not met, would result in forfeiture of the shares and reversal of any previously recognized related stock-based compensation
expense.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following is a
summary of restricted stock awards activity for the six months ended June 30, 2013:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 85%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.8pt; text-align: center"><B>Number of</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.8pt; text-align: center"><B>Shares</B></P></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.25pt; text-align: center"><B>Per Share</B><BR> <B>Weighted-</B><BR> <B>Average</B><BR> <B>Grant-Date</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 5.25pt; text-align: center"><B>Fair
                                                                                                                                                                                                                                                       Value</B></P></TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 68%; font-weight: bold">Outstanding at January 1, 2013</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 13%; text-align: right">33,334</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 13%; text-align: right">1.39</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Restricted stock granted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Restricted stock vested</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Restricted stock forfeited</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&mdash;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; padding-bottom: 2.5pt">Outstanding at June 30, 2013</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">33,334</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1.39</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company recorded stock-based compensation
expense in the statements of operations as follows (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 93%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Three Months Ended</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>June 30,</B></P>

</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Six Months Ended</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>June 30,</B></P>

</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 56%; text-align: left">Research and development</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">296</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">236</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">513</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 8%; text-align: right">419</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">General and administrative</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">342</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">353</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">608</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">757</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: -8.1pt; padding-left: 8.1pt">Total stock-based compensation expense</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">638</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">589</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,121</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,176</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of June 30, 2013,
there was approximately $4.9<B> </B>million of total unrecognized compensation expense (net of estimated forfeitures) related
to unvested options and restricted stock awards. This unrecognized compensation expense is expected to be recognized over a weighted-average
period of 1.6<B> </B>years. This estimate does not include the impact of other possible stock-based awards that may be made during
future periods.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Note 8 &ndash;
U.S. Government Agreement, Joint Venture and Collaborations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; text-indent: 0in"><B><I>HHS
BARDA Contract for Recombinant Influenza Vaccines</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In February 2011,
the Company was awarded a contract from HHS BARDA valued at $97 million for the first three-year base-period, with an HHS BARDA
option for an additional two-year period valued at $82 million, for a total contract value of up to $179 million. The HHS BARDA
contract award provides significant funding for the Company&rsquo;s ongoing clinical development and product scale-up of both
its seasonal and pandemic (H5N1) influenza vaccine candidates. This is a cost-plus-fixed-fee contract in which HHS BARDA will
reimburse the Company for allowable direct contract costs incurred plus allowable indirect costs and a fixed-fee earned in the
further development of its multivalent seasonal and monovalent pandemic (H5N1) influenza vaccines. Billings under the contract
are based on approved provisional indirect billing rates, which permit recovery of fringe benefits, overhead and general and administrative
expenses not exceeding certain limits. These indirect rates are subject to audit by HHS BARDA on an annual basis. An audit by
the government of fiscal year 2011 has been initiated, but has not been completed as of the date of this filing. When the final
determination of the allowable costs for any year has been made, revenue and billings may be adjusted accordingly; however, management
believes that revenue for periods subject to audit has been recorded in amounts that are expected to be realized upon final audit
and settlement. The Company recognized revenue of approximately $6.5 million in the six months ended June 30, 2013, and has recognized
approximately $41 million in revenue since the inception of the contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under certain circumstances,
HHS BARDA reimbursements may be delayed or even potentially withheld. In March 2012, the Company decided to conduct a Phase 2
clinical trial of its quadrivalent seasonal influenza vaccine candidate (&ldquo;205 Trial&rdquo;) under its existing U.S. investigational
new drug application (&ldquo;IND&rdquo;) for its trivalent seasonal influenza vaccine candidate as opposed to waiting to conduct
this clinical trial under a new IND for its quadrivalent vaccine candidate (&ldquo;Quadrivalent IND&rdquo;). Based on the Company&rsquo;s
discussions with HHS BARDA in 2012, the outside clinical trial costs for the 205 Trial may only be submitted for reimbursement
to HHS BARDA and recorded as revenue by the Company after it submits the clinical trial data in a future Quadrivalent IND. The
submission of the Quadrivalent IND is expected shortly before the Company initiates the next Phase 2 dose-confirmatory clinical
trial, which has been delayed due to the development activity associated with improving the seroconversion rate of one of the
four strains. The outside clinical trial costs of the 205 Trial conducted last year total $2.9 million, which was incurred from
the inception of the clinical trial through June 30, 2013. These costs have been recorded as an expense and are included in cost
of government contracts revenue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B><I>CPL Biologicals
Private Limited (&ldquo;CPLB&rdquo;) Joint Venture</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In 2009, the Company
formed a joint venture with Cadila Pharmaceuticals Limited (&ldquo;Cadila&rdquo;) named CPL Biologicals Private Limited (the &ldquo;CPLB&rdquo;)
to develop and manufacture vaccines, biological therapeutics and diagnostics in India. CPLB is owned 20% by the Company and 80%
by Cadila. The Company accounts for its investment in CPLB using the equity method. Since the carrying value of the Company&rsquo;s
initial investment was nominal and there is no guarantee or commitment to provide future funding, the Company has not recorded
any losses related to this investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B><I>LG Life Sciences,
Ltd. (&ldquo;LGLS&rdquo;) License Agreement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In February 2011,
the Company entered into a license agreement with LGLS that allows LGLS to use the Company&rsquo;s technology to develop and commercially
sell influenza vaccines exclusively in South Korea and non-exclusively in certain other specified countries. At its own cost,
LGLS is responsible for funding both its clinical development of the influenza VLP vaccines and a manufacturing facility to produce
such vaccine in South Korea. Under the license agreement, the Company is obligated to provide LGLS with information and materials
related to the manufacture of the licensed products, provide on-going project management and regulatory support and conduct clinical
trials of its influenza vaccines in order to obtain FDA approval in the U.S. The term of the license agreement is expected to
terminate in 2027. Payments to the Company under the license agreement include an upfront payment of $2.5 million, reimbursements
of certain development and product costs, payments related to the achievement of certain milestones and royalty payments in the
high single digits from LGLS&rsquo;s future commercial sales of influenza VLP vaccines. The upfront payment has been deferred
and will be recognized when the previously mentioned obligations in the agreement are satisfied, which may not occur until the
end of the term of the agreement. Payments for milestones under the agreement will be recognized on a straight-line basis over
the remaining term of the research and development period upon achievement of such milestone. Any royalties under the agreement
will be recognized as earned.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><B><I>PATH Vaccine
Solutions (&ldquo;PATH&rdquo;) Clinical Development Agreement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In July 2012, the
Company entered into a clinical development agreement with PATH to develop its vaccine candidate to protect against RSV through
maternal immunization in low-resource countries (the &ldquo;RSV Collaboration Program&rdquo;). The Company was awarded approximately
$2.0 million by PATH for initial funding under the agreement to partially support its Phase 2 dose-ranging clinical trial in women
of childbearing age, which was launched in October 2012. In August 2013, the funding under the agreement was increased by $0.3
million and the term extended to April 2014 to support the Company&rsquo;s reproductive toxicology studies, which are necessary
before it conducts clinical trials in pregnant women. The Company retains global rights to commercialize the product and has made
a commitment to make the vaccine affordable and available in low-resource countries. To the extent PATH has elected to continue
to fund 50% of the Company&rsquo;s external clinical development costs for the RSV Collaboration Program, but the Company does
not continue development, the Company would then grant PATH a fully-paid license to its RSV vaccine technology for use in pregnant
women in such low-resource countries. The Company recognized revenue of approximately $0.6 million in the six months ended June
30, 2013, and has recognized approximately $1.9 million in revenue since the inception of the contract. Revenue under this arrangement
is being 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 this agreement represent a reasonable measurement
of proportional performance of the services being performed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Note 9 &ndash;
Notes Payable</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In September 2012,
the Company entered into a master security agreement with General Electric Capital Corporation (&ldquo;GE&rdquo;), whereby the
Company can borrow up to $2.0 million to finance the purchases of equipment through June 2013 (&ldquo;Equipment Loan&rdquo;).
Each Equipment Loan bears interest at the three-year U.S. Government treasury rate plus 11.68%, provided that the rate shall not
be less than 12.1%, and is to be repaid over forty-two (42) months. GE will maintain a security interest in all equipment financed
under the Equipment Loan. During the six months ended June 30, 2013, the Company financed $1.5 million in total at interest rates
of 12.1% with monthly principal payments totaling $34,529 (&ldquo;2013 Funding&rdquo;). Interest accrues on the outstanding balance
until paid in full. As of June 30, 2013, the Company has financed $2.0 million in total under the Equipment Loan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Aggregate future minimum
principal payments on the Equipment Loan, including the 2013 Funding, at June 30, 2013 are as follows (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 95%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold; border-bottom: Black 1pt solid; text-align: left">Year</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount</TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 82%; text-align: left">2013 (remainder)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 15%; text-align: right">286</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">571</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">571</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">2016</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">396</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,824</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Note 10 &ndash;
Warrant Liability</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.55in">In July 2008, the
Company completed a registered direct offering of 6,686,650 units, raising approximately $17.5 million in net proceeds. Each unit
consisted of one share of common stock and a warrant to purchase 0.5 shares of common stock (the &ldquo;Warrants&rdquo;) at a
price of $2.68 per unit. The Warrants represent the right to acquire an aggregate of 3,343,325 shares of common stock at an exercise
price of $3.62 per share and were exercisable between January 31, 2009 and July 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.55in"><FONT STYLE="color: black">During
the six months ended June 30, 2013 and 2012, the Company recorded as other income (expense) </FONT>in its statements of operations
<FONT STYLE="color: black">a change in fair value of warrant liability of $0.3 million and $0 million, respectively. As of June
30, 2013, the warrant liability recorded on the balance sheet was $0 million. All Warrants expired unexercised on July 31, 2013.</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Note 11 &ndash;
Sales of Common Stock</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In October 2012, the
Company entered into an At Market Issuance Sales Agreement (&ldquo;2012 Sales Agreement&rdquo;), under which the Board of Directors
of the Company (the &ldquo;Board&rdquo;) approved the Company&rsquo;s sale of up to an aggregate of $50 million in gross proceeds
of its common stock. The shares of common stock are being offered pursuant to a shelf registration statement filed with the SEC
in March 2013, which replaced the previous shelf registration statement filed in 2010. The Board has appointed a standing Finance
Committee (the &ldquo;Committee&rdquo;) to assist with its responsibilities to monitor, provide advice to senior management of
the Company and approve all capital raising activities. The Committee has been authorized by the Board, absent any action by the
Board to the contrary, to take any additional actions necessary to carry out the Board&rsquo;s authorization of the issuance and
sale of the common stock sold pursuant to the 2012 Sales Agreement. In doing so, the Committee is authorized to set the amount
of shares to be sold, the period of time during which such sales may occur and the minimum sales price per share. During the six
months ended June 30, 2013, the Company sold 4.6 million shares at sales prices ranging from of $2.06 &#9472; $2.63 per share,
resulting in $10.0 million in net proceeds. The most recent sales to occur under the 2012 Sales Agreement were on May 6, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">Note 12 &ndash;
Manufacturing, Laboratory and Office Facility</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company leases
its new manufacturing, laboratory and office space in Gaithersburg, Maryland with rent payments for such space to the landlord
commencing April 1, 2014. Under the terms of one lease agreement, the landlord provided the Company with a tenant improvement
allowance of $2.5 million and an additional tenant improvement allowance of $3 million, such additional tenant improvement allowance
is to be paid back to the landlord during the remainder of the term of such lease agreement through additional rent payments (collectively,
the &ldquo;Improvement Allowance&rdquo;). The Company has been funded $0.7 million in the six months ended June 30, 2013, and
has been funded $5.0 million in total under the Improvement Allowance. The Improvement Allowance is being amortized on a straight-line
basis over the remaining term of the lease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Note 13 &ndash; Acquisition of Isconova AB</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">On
July 31, 2013, the Company announced that, pursuant to its public tender offer to acquire all outstanding shares and warrants
of Sweden-based Isconova AB (&ldquo;Isconova&rdquo;) directly from such holders and a private offer for all outstanding stock
options, it had acquired: 97.4% of the outstanding Isconova shares for approximately 15.1 million shares of Novavax Common Stock;
100% of the outstanding 2005-I warrants and 2005-II warrants for SEK 140,285 (or approximately $22,000 based on current exchange
rate); and 100% of the stock options, for which it will issue 218,120 shares of Novavax Common Stock. The Company initiated the
public tender offer on July 9, 2013 and expects to settle these transactions in August 2013.</FONT> In addition, the Company has
extended the tender acceptance period until August 20, 2013 in order to attempt to acquire the remaining 2.6% of the outstanding
Isconova shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Isconova has focused
its recent efforts on the development of saponin-based, immune-modulating adjuvants that work with different types of vaccine
antigens to enhance the immunogenic effect of the antigen. A number of vaccines are under development by various vaccine companies,
as well as by Isconova, using Isconova&rsquo;s third generation nanoparticle adjuvant, Matrix-M&trade;. The Company believes that
Isconova&rsquo;s adjuvants will be powerful complements to its recombinant vaccine programs as three of its clinical-stage programs
and many of its pre-clinical programs are currently testing adjuvants to see whether immune responses can be enhanced.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Item 2.&#9;Management&rsquo;s
Discussion and Analysis of Financial Condition and Results of Operations </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any statements
in the discussion below, and elsewhere in this report, about our expectations, beliefs, plans, objectives, assumptions or
future events or performance are not historical facts and are forward-looking statements. Such forward-looking statements
include, without limitation, statements regarding our expectations regarding future revenue and expense levels, the efficacy,
safety and intended utilization of our product candidates, the development of our clinical stage product candidates and our
recombinant vaccine technologies, the future development of our product candidates by us, the conduct, timing and results of
future clinical trials, plans regarding regulatory filings, our available cash resources and the availability of financing
generally, including our ability to employ our At Market Issuance Sales Agreement entered into in October of 2012, our plans
regarding partnering activities and business development initiatives, and other factors referenced herein. You can identify
these forward-looking statements by the use of words or phrases such as &ldquo;believe,&rdquo; &ldquo;may,&rdquo;
&ldquo;could,&rdquo; &ldquo;will,&rdquo; &ldquo;possible,&rdquo; &ldquo;can,&rdquo; &ldquo;estimate,&rdquo;
&ldquo;continue,&rdquo; &ldquo;ongoing,&rdquo; &ldquo;consider,&rdquo; &ldquo;anticipate,&rdquo; &ldquo;intend,&rdquo;
&ldquo;seek,&rdquo; &ldquo;plan,&rdquo; &ldquo;project,&rdquo; &ldquo;expect,&rdquo;
&ldquo;should,&rdquo; &ldquo;would,&rdquo; or &ldquo;assume&rdquo; or the negative of these terms, or other comparable
terminology, although not all forward-looking statements contain these words.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any or all of our
forward-looking statements in the Quarterly Report may turn out to be inaccurate. Among the factors that could cause actual results
to differ materially from those indicated in the forward-looking statements are risks and uncertainties inherent in our business
including, without limitation, the progress, timing or success of our clinical trials; difficulties or delays in development,
testing, obtaining regulatory approval for producing and marketing our product candidates; regulatory developments in the United
States or in foreign countries; the risks associated with our reliance on collaborations for the development and commercialization
of our product candidates; unexpected adverse side effects or inadequate efficacy of our product candidates that could delay or
prevent product development or commercialization, or that could result in recalls or product liability claims; our ability to
attract and retain key scientific, management or operational personnel; the size and growth potential of the markets for our product
candidates and our ability to serve those markets; the scope and validity of patent protection for our product candidates; competition
from other pharmaceutical or biotechnology companies; our ability to establish and maintain strategic collaborations or to otherwise
obtain additional financing to support our operations on commercially reasonable terms; successful administration of our business
and financial reporting capabilities; and other risks detailed in this report, including those identified in Part II, Item 1A,
&ldquo;Risk Factors&rdquo; of our Annual Report on Form 10-K for year ended December 31, 2012.<B> </B>In light of these risks
and uncertainties, the forward-looking events and circumstances discussed in this Quarterly Report may not occur as contemplated,
and actual results could differ materially from those anticipated or implied by the forward-looking statements and we therefore
caution readers not to place undue reliance on such forward-looking statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Although we believe
that the expectations reflected in our forward-looking statements are reasonable, we cannot guarantee future results, events,
levels of activity, performance or achievement. We undertake no obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, unless required by law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Overview</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Novavax, Inc., a Delaware
corporation (Novavax, the Company, we, or us), is a clinical-stage biopharmaceutical company focused on developing recombinant
protein nanoparticle vaccines to address a broad range of infectious diseases. Our technology platform is based on proprietary
recombinant vaccine technology that includes virus-like particles (VLPs) and recombinant protein micelle vaccines combined with
a single-use bioprocessing production system. Our vaccine candidates are genetically engineered three-dimensional nanostructures
that incorporate immunologically important recombinant proteins. Our product pipeline targets a variety of infectious diseases
with vaccine candidates currently in mid-stage clinical development for seasonal influenza, pandemic influenza and respiratory
syncytial virus (RSV).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">CPL Biologicals Private
Limited (CPLB), which is owned 20% by us and 80% by Cadila Pharmaceuticals Limited (Cadila), was established to develop and manufacture
certain vaccine candidates, biosimilar products and diagnostic products for the territory of India. CPLB operates a state-of-the-art
manufacturing facility for the production of influenza vaccine and other vaccine candidates. CPLB is actively developing a number
of vaccine candidates that were genetically engineered by Novavax. CPLB&rsquo;s seasonal and pandemic influenza candidates initiated
Phase 1 clinical trials in 2012. Also in 2012, CPLB formed a new collaboration to develop a novel malaria vaccine in India with
the International Centre for Genetic Engineering and Biotechnology. CPLB&rsquo;s rabies vaccine candidate is expected to begin
a Phase 1 clinical trial in India in 2013. We continue to account for our investment in CPLB using the equity method. Since the
carrying value of our initial investment was nominal and there is no guarantee or commitment to provide future funding, we have
not recorded nor do we expect to record losses related to this investment in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">On
July 31, 2013, we announced that, pursuant to our public tender offer to acquire all outstanding shares and warrants of Sweden-based
Isconova AB (&ldquo;Isconova&rdquo;) directly from such holders and a private offer for all outstanding stock options, we had
acquired: 97.4% of the outstanding Isconova shares for approximately 15.1 million shares of Novavax Common Stock; 100% of the
outstanding 2005-I warrants and 2005-II warrants for SEK 140,285 (or approximately $22,000 based on current exchange rate); and
100% of the stock options, for which we will issue 218,120 shares of Novavax Common Stock. We initiated the public tender offer
on July 9, 2013 and expect to settle these transactions in August 2013.</FONT> In addition, we have extended the tender acceptance
period until August 20, 2013 in order to attempt to acquire the remaining 2.6% of the outstanding Isconova shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Isconova has focused
its recent efforts on the development of saponin-based, immune-modulating adjuvants that work with different types of vaccine
antigens to enhance the immunogenic effect of the antigen. A number of vaccines are under development by various vaccine companies,
as well as by Isconova, using Isconova&rsquo;s third generation nanoparticle adjuvant, Matrix-M&trade;. We believe that Isconova&rsquo;s
adjuvants will be powerful complements to our recombinant vaccine programs as three of our clinical-stage programs and many of
our pre-clinical programs are currently testing adjuvants to see whether immune responses can be enhanced.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Clinical Product Pipeline</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A current summary
of our significant research and development programs and status of development follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 94%; border-collapse: collapse; margin-left: 0.5in">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 44%; border-bottom: windowtext 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Program</B></FONT></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 27%; border-bottom: windowtext 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Development
    Phase</B></FONT></TD>
    <TD NOWRAP STYLE="width: 1%; text-align: justify">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 27%; border-bottom: windowtext 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt"><B>Collaborator</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">RSV</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Phase 2</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">PATH</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Seasonal Quadrivalent Influenza</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Phase 2</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">HHS BARDA/LGLS</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Pandemic (H5N1) Influenza</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Phase 1</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">HHS BARDA/LGLS</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Pandemic (H7N9) Influenza</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Phase 1</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">None</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Seasonal Trivalent Influenza (India)</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Phase 1</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">CPLB</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Pandemic (H1N1) Influenza (India)</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Phase 1</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">CPLB</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Rabies</FONT></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">Phase 1-ready</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">CPLB</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Respiratory Syncytial Virus (RSV)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">RSV is a widespread
disease that causes infections of the lower respiratory tract. While RSV affects persons of all ages, it acutely impacts infants,
the elderly, young children and others with compromised immune systems. Current estimates indicate that RSV is responsible for
over 30 million new acute lower respiratory infection episodes and between 150,000 and 200,000 deaths in children under five years
old<SUP>1</SUP>. In the U.S., nearly all children become infected with RSV before they are two years old; it has been associated
with 20% of hospitalizations and 15% of office visits for acute respiratory infection in young children. The World Health Organization
(WHO) estimates that the global disease burden for RSV is 64 million cases. Because there is no approved prophylactic vaccine,
the unmet medical need of an RSV vaccine has the potential to protect millions of patients from this far-reaching disease.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><SUP>1</SUP> <FONT STYLE="font-size: 10pt; color: black">Nair,
H.,&nbsp;<I>et al.</I>, (2010) Lancet. 375:1545-1555</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are developing
a vaccine candidate to prevent RSV disease and are looking at susceptible target populations, including infants who may receive
protection through antibodies transferred from their mothers who would be immunized during the last trimester of pregnancy, the
elderly and young children.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Maternal Immunization Development Program
- Clinical Experience</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In October 2012, we
initiated a Phase 2 dose-ranging clinical trial in women of child bearing age, which supports our goals of developing a vaccine
for maternal immunization of pregnant women. In April 2013, we announced top-line data from this Phase 2 clinical trial that were
similar to, or exceeded, immune responses seen in our first Phase 1 clinical trial. This randomized, blinded, placebo-controlled
Phase 2 clinical trial evaluated the safety and immunogenicity of two dose levels of our RSV vaccine candidate, with and without
an aluminum phosphate adjuvant, in 330 women of childbearing age. We further reported:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify">the
                                                                                                                             clinical
                                                                                                                             trial&rsquo;s
                                                                                                                             protocol-specified
                                                                                                                             objectives
                                                                                                                             were
                                                                                                                             accomplished;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify">the
                                                                                                                             vaccine
                                                                                                                             candidate
                                                                                                                             was
                                                                                                                             generally
                                                                                                                             well-tolerated
                                                                                                                             with
                                                                                                                             a
                                                                                                                             similar
                                                                                                                             safety
                                                                                                                             profile
                                                                                                                             as
                                                                                                                             previously
                                                                                                                             observed;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify">the
                                                                                                                             use
                                                                                                                             of
                                                                                                                             aluminum
                                                                                                                             phosphate
                                                                                                                             as
                                                                                                                             an
                                                                                                                             adjuvant
                                                                                                                             enhanced
                                                                                                                             both
                                                                                                                             the
                                                                                                                             single
                                                                                                                             and
                                                                                                                             two-dose
                                                                                                                             regimen
                                                                                                                             anti-F
                                                                                                                             IgG
                                                                                                                             responses;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify">the
                                                                                                                             two-dose
                                                                                                                             alum
                                                                                                                             groups
                                                                                                                             showed
                                                                                                                             a
                                                                                                                             13
                                                                                                                             to
                                                                                                                             16-fold
                                                                                                                             rise
                                                                                                                             compared
                                                                                                                             to
                                                                                                                             a
                                                                                                                             6
                                                                                                                             to
                                                                                                                             10-fold
                                                                                                                             rise
                                                                                                                             in
                                                                                                                             the
                                                                                                                             non-alum
                                                                                                                             groups;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify">Antigen
                                                                                                                             dose
                                                                                                                             increases
                                                                                                                             had
                                                                                                                             a
                                                                                                                             minimal
                                                                                                                             impact
                                                                                                                             on
                                                                                                                             responses;
                                                                                                                             and</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify">Palivizumab-like
                                                                                                                             antibody
                                                                                                                             titers
                                                                                                                             rose
                                                                                                                             8
                                                                                                                             to
                                                                                                                             9-fold,
                                                                                                                             with
                                                                                                                             four-fold
                                                                                                                             rises
                                                                                                                             in
                                                                                                                             &ge;92%
                                                                                                                             of
                                                                                                                             subjects
                                                                                                                             in
                                                                                                                             the
                                                                                                                             two-dose
                                                                                                                             alum-adjuvanted
                                                                                                                             vaccine
                                                                                                                             groups.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our expected
path forward in maternal immunization would include a dose-confirmation clinical trial in women of childbearing age. In
parallel, and in consultation with the FDA, we would expect to initiate a reproductive toxicology study in rabbits to confirm
the safety of our proposed formulation in advance of initiating a clinical trial in pregnant women.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Elderly Development Program - Clinical
Experience</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In October 2012, we
also initiated a Phase 1 dose-ranging clinical trial in the elderly, which supports our goals of developing a vaccine in elderly
adults. This clinical trial was a randomized, blinded, placebo-controlled Phase 1 clinical trial that evaluated the safety and
immunogenicity in 220 enrolled elderly adults, 60 years of age and older, who received a single intramuscular injection of our
RSV vaccine candidate (with and without an aluminum phosphate adjuvant) or placebo plus a single dose of licensed influenza vaccine
or placebo at days 0 and 28. Subjects were also inoculated with a commercially-available trivalent influenza vaccine (TIV) at
days 0 and 28. In July 2013, we announced top-line data from the Phase 1 clinical trial in the elderly that further corroborated
our previous clinical experiences with our RSV vaccine candidate. We further reported:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify">the
                                                                                                                             clinical
                                                                                                                             trial&rsquo;s
                                                                                                                             protocol-specified
                                                                                                                             objectives
                                                                                                                             were
                                                                                                                             accomplished;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol; color: black">&middot;</FONT></TD><TD STYLE="text-align: justify">the
                                                                                                                             vaccine
                                                                                                                             candidate
                                                                                                                             was
                                                                                                                             generally
                                                                                                                             well-tolerated
                                                                                                                             with
                                                                                                                             a
                                                                                                                             similar
                                                                                                                             safety
                                                                                                                             profile
                                                                                                                             as
                                                                                                                             previously
                                                                                                                             observed;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">the
                                                                                                               overall immune
                                                                                                               responses, in terms
                                                                                                               of both frequency
                                                                                                               and amplitude of
                                                                                                               antibody rises,
                                                                                                               were greater in
                                                                                                               the groups receiving
                                                                                                               the 90&mu;g dose
                                                                                                               of the RSV vaccine
                                                                                                               candidate compared
                                                                                                               to the groups dosed
                                                                                                               with 60&micro;g;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">significantly
                                                                                                               greater immune
                                                                                                               responses were
                                                                                                               observed in the
                                                                                                               groups receiving
                                                                                                               adjuvanted vaccine
                                                                                                               compared to those
                                                                                                               receiving unadjuvanted
                                                                                                               formulations;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">increases
                                                                                                               in anti-F IgG were
                                                                                                               observed in all
                                                                                                               actively-vaccinated
                                                                                                               groups by Day 7
                                                                                                               post-immunization
                                                                                                               with antibody levels
                                                                                                               that continued
                                                                                                               to rise through
                                                                                                               Day 28 among recipients
                                                                                                               of unadjuvanted
                                                                                                               vaccines, which
                                                                                                               then appeared to
                                                                                                               plateau, while
                                                                                                               such levels continued
                                                                                                               to rise through
                                                                                                               Day 56 in recipients
                                                                                                               of adjuvanted vaccine,
                                                                                                               with best responses
                                                                                                               observed in the
                                                                                                               90&micro;g adjuvanted
                                                                                                               vaccine group;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

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<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Day
                                                                                                               0 baseline data
                                                                                                               showed an essentially
                                                                                                               undetectable level
                                                                                                               of antibodies that
                                                                                                               compete with palivizumab
                                                                                                               in subjects, which
                                                                                                               were then shown
                                                                                                               to increase to
                                                                                                               between 80% and
                                                                                                               97% in active vaccine
                                                                                                               recipients by Day
                                                                                                               28, and sustained
                                                                                                               in subjects receiving
                                                                                                               a second dose of
                                                                                                               the adjuvanted
                                                                                                               vaccines at 97%
                                                                                                               through Day 56;</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">RSV
                                                                                                               A and B microneutralizing
                                                                                                               antibody levels
                                                                                                               increased in all
                                                                                                               vaccinated subject
                                                                                                               groups, with greatest
                                                                                                               responses seen
                                                                                                               in the 90&micro;g
                                                                                                               adjuvanted vaccine
                                                                                                               group; and</TD></TR></TABLE>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.75in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Hemagglutination-inhibiting
                                                                                                               (HAI) responses
                                                                                                               to the TIV were
                                                                                                               unaffected by co-administration
                                                                                                               with the RSV vaccine
                                                                                                               candidates, which
                                                                                                               is an important
                                                                                                               feature given that
                                                                                                               RSV and influenza
                                                                                                               vaccines are likely
                                                                                                               be given to the
                                                                                                               elderly contemporaneously
                                                                                                               in practice.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">Our
expected path forward in the elderly would include a dose-confirmation clinical trial, as we continue to assess the potential
for a combination RSV and influenza vaccine for the elderly.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>PATH Vaccine
Solutions (PATH) Clinical Development Agreement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In July 2012, we entered
into a clinical development agreement with PATH to develop our vaccine candidate to protect against RSV through maternal immunization
in low-resource countries (RSV Collaboration Program). We were awarded approximately $2.0 million by PATH for initial funding
under the agreement to partially support our Phase 2 dose-ranging clinical trial in women of childbearing age as described above.
In August 2013, the funding under the agreement was increased by $0.3 million and the term extended to April 2014 to support our
reproductive toxicology studies, which are necessary before we conduct clinical trials in pregnant women. We retain global rights
to commercialize the product and have made a commitment to make the vaccine affordable and available in low-resource countries.
To the extent PATH has elected to continue to fund 50% of our external clinical development costs for the RSV Collaboration Program,
but we do not continue development, we would then grant PATH a fully-paid license to our RSV vaccine technology for use in pregnant
women in such low-resource countries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Influenza</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Seasonal Influenza
Vaccine</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Developing and commercializing
a Novavax seasonal influenza vaccine remains an important strategic goal and viable opportunity for us. The Advisory Committee
for Immunization Practices of the Center for Disease Control and Prevention (CDC) recommends that a<FONT STYLE="color: black">ll
persons aged six months and older should be vaccinated annually</FONT> against seasonal influenza. In conjunction with these universal
recommendations, attention from the 2009 influenza H1N1 pandemic has increased public health awareness of the importance of seasonal
influenza vaccination, the market for which is expected to continue to grow worldwide in both developed and developing global
markets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">There are currently
three quadrivalent influenza vaccines licensed in the U.S., but in the coming years, additional seasonal influenza vaccines are
expected to be produced and licensed within and outside of the U.S. in a quadrivalent formulation (four influenza strains: two
influenza A strains and two influenza B strains), as opposed to the current trivalent formulation (three influenza strains: two
influenza A strains and one influenza B strain). With two distinct lineages of influenza B viruses circulating, governmental health
authorities have advocated for the addition of a second influenza B strain to provide additional protection. Current estimates
for seasonal influenza vaccines growth in the top seven markets (U.S., Japan, France, Germany, Italy, Spain and UK), show potential
growth from the current market of approximately $3.6 billion to $4.7 billion over the next ten years<SUP>2</SUP>. Recombinant
seasonal influenza vaccines, like the candidate we are developing, have an important advantage; once licensed for commercial sale,
large quantities of vaccine can be quickly and cost-effectively manufactured without the use of either the live influenza virus
or eggs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Top-line data from
our most recent Phase 2 clinical trial for our quadrivalent influenza vaccine candidate were announced in July 2012. In that clinical
trial, our quadrivalent VLP vaccine candidate demonstrated immunogenicity against all four viral strains based on HAI responses
at day 21, and was also well-tolerated, as evidenced by the absence of any observed vaccine-related serious adverse events (SAEs)
and an acceptable reactogenicity profile. Our vaccine candidate met the FDA accelerated approval seroprotection rates criterion
for all four viral strains. The potential to fulfill the seroconversion rates criterion was demonstrated for three of the four
viral strains. The fourth strain, B/Brisbane/60/08, despite fulfilling the seroprotection criterion, failed to demonstrate a satisfactory
seroconversion rate. Following our last Phase 2 clinical trial, o<FONT STYLE="color: black">ur activities with respect to our
seasonal influenza vaccine candidate have been focused on assessing and &ldquo;locking&rdquo; the manufacturing process that will
ensure consistent and enhanced immune responses in all strains, with completion of these activities expected to occur in the third
quarter of 2013. During the second half of 2013, we expect to begin manufacturing A and B strain influenza VLPs for the next Phase
2 clinical trial with our quadrivalent vaccine candidate.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B><I>Pandemic Influenza Vaccine</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the aftermath of
the 2009 H1N1 influenza pandemic, recognition of the potential devastation of a human influenza pandemic remains a key priority
with both governmental health authorities and influenza vaccine manufacturers. In the U.S. alone, the 2009 H1N1 pandemic led to
the production of approximately 126 million doses of monovalent (single strain) vaccine. Public health awareness and government
preparedness for the next potential influenza pandemic are driving development of vaccines that can be manufactured quickly against
a potentially threatening influenza strain. Industry and health experts have focused attention on developing a monovalent H5N1
influenza vaccine as a potential key defense against a future pandemic threat.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In October 2012, we
reported positive results from two Phase 1 clinical trials of our pandemic (H5N1) vaccine candidate in combination with two different
adjuvants, both of which are designed to improve the immunogenicity of vaccines at lower doses and thus provide antigen dose-sparing.
The top-line data demonstrated safety and immunogenicity of varying dose-levels of the vaccine, with and without adjuvant, and
further demonstrated statistically significant robust adjuvant effects on immune response. Our expected path forward in pandemic
would include a Phase 1/2 clinical trial.<B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In April 2013, we
initiated manufacturing of a new monovalent influenza vaccine candidate against the A/Anhui/1/13-like H7N9 strain of avian influenza.
This strain was first recognized by Chinese health authorities as a potential pandemic influenza threat in late March 2013. In
a three month period, we took the A(H7N9) viral gene sequence provided to vaccine manufacturers by the WHO, developed and purified
a VLP antigen, conducted multiple animal studies, and initiated a Phase 1 clinical trial in Australia. Top line results from this
trial are expected in late 2013. We believe that conducting this H7N9 campaign to develop a new vaccine candidate is an important
strategic undertaking demonstrating our capabilities to quickly address emerging influenza threats. We initiated and are progressing with
our H7N9 campaign on our own, independent from our contract with The Department of Health and Human Services, Biomedical Advanced
Research and Development Authority (HHS BARDA).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><SUP>2</SUP> Market Forecasts:
Seasonal Influenza Vaccines. Datamonitor (2012)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>



<P STYLE="margin: 0"></P>
<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Potential Accelerated
Approval Pathway for Influenza</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the past, Novavax
has referenced attainment of accelerated approval immunogenicity endpoints for seroprotection and seroconversion as a potential
pathway for licensure of its influenza vaccines. The criteria for granting such accelerated approval of a Biologics License Application
(BLA, the biologic equivalent to a New Drug Application or NDA) for new seasonal and pandemic influenza vaccines was published
by the U.S. Food and Drug Administration, Center for Biologics Evaluation and Research (FDA). Under FDA guidance, developers that
can demonstrate results that meet or exceed certain specified immunogenicity endpoint criteria in <FONT STYLE="color: black">their
clinical trials may, at the FDA&rsquo;s discretion, be granted a license to market a product prior to submission of traditional
clinical endpoint efficacy trial data. It should be noted that FDA licensure based on accelerated approval nevertheless requires
sponsors to conduct a post-licensure efficacy study to demonstrate the clinical benefit of the vaccine, which would thereby support
traditional approval of the vaccine. Because it is not possible to conduct a clinical endpoint efficacy study for a pandemic vaccine
in advance of a declared pandemic, FDA&rsquo;s pandemic guidance allows for submission of seasonal influenza clinical efficacy
data for the purpose of confirming clinical benefit of a pandemic vaccine manufactured by the same process. </FONT>Thus, the demonstration
of efficacy with a seasonal vaccine product provides a key link between the seasonal and pandemic programs. Accelerated approval
further necessitates a shortage of influenza vaccine relative to the total population recommended to receive such vaccine, a situation
that persists with seasonal influenza vaccine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Although we have
not ruled out this accelerated approval approach, particularly for our pandemic program or certain subject populations within
the seasonal influenza program, we do not expect to pursue accelerated approval of our quadrivalent seasonal influenza
vaccine, largely because of the uncertainty as to whether the accelerated approval pathway will be available to us at the
time of our BLA submissions and the unknown ability of current and new influenza strains to meet such accelerated approval
criteria. We are planning therefore to pursue traditional licensure of our quadrivalent seasonal influenza vaccine
by conducting a clinical endpoint efficacy study for the purpose of submitting the data within the original BLA. These
efficacy data will also support the requirement for clinical efficacy data for our pandemic vaccine program. Novavax plans to
discuss with the FDA our licensure pathways (both the traditional pathway for seasonal and possible accelerated pathways for
pandemic and certain subject populations within the seasonal program) during future formal meetings. The likely impact of
such an efficacy trial would be an additional year before FDA grants licensure to our seasonal influenza vaccine.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>HHS BARDA Contract
for Recombinant Influenza Vaccines</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">HHS BARDA awarded us
a contract in February 2011, which funds the development of both our seasonal and pandemic (H5N1) influenza vaccine candidates.
The contract, valued at $97 million for the first three-year base-period and $82 million for an HHS BARDA optional two-year period,
is a cost-plus-fixed-fee contract in which HHS BARDA reimburses us for allowable direct contract costs incurred plus allowable
indirect costs and a fixed-fee earned in the ongoing clinical development and product scale-up of our multivalent seasonal and
monovalent pandemic (H5N1) influenza vaccines. We recognized revenue of approximately $6.5 million in the six months ended June
30, 2013, and have recognized approximately $41 million in revenue since the inception of the contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under certain circumstances,
HHS BARDA reimbursements may be delayed or even potentially withheld. As we have previously disclosed in our filings with the United
States Securities and Exchange Commission (SEC), in March 2012, we decided to conduct a Phase 2 clinical trial of our quadrivalent
seasonal influenza vaccine candidate (the 205 Trial) under our existing U.S. investigational new drug application (IND) for our
trivalent seasonal influenza vaccine candidate as opposed to waiting to conduct this clinical trial under a new IND for our quadrivalent
vaccine candidate (Quadrivalent IND). Based on our discussions with HHS BARDA in 2012, the outside clinical trial costs for the
205 Trial may only be submitted for reimbursement to HHS BARDA and recorded as revenue by us after we submit the clinical trial
data in a future Quadrivalent IND. The submission of the Quadrivalent IND is expected shortly before we initiate the next Phase
2 dose-confirmatory clinical trial, which has been delayed due to the development activity associated with improving the seroconversion
rate of one of the four strains. The outside clinical trial costs of the 205 Trial conducted last year total $2.9 million, which
was incurred from the inception of the clinical trial through June 30, 2013. These costs have been recorded as an expense and are
included in cost of government contracts revenue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>LG Life Sciences,
Ltd. (LGLS) License Agreement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In February 2011, we
entered into a license agreement with LGLS that allows LGLS to use our technology to develop and commercially sell our influenza
vaccines in South Korea and certain other emerging-market countries. LGLS received an exclusive license to our influenza VLP technology
in South Korea and a non-exclusive license in the other specified countries. At its own cost, LGLS is responsible for funding both
its clinical development of the influenza VLP vaccines and a manufacturing facility to produce such vaccine in South Korea. We
received an upfront payment and may receive reimbursements of certain development and product costs, payments related to the achievement
of certain milestones and royalty payments in the high single digits from LGLS&rsquo;s future commercial sales of influenza VLP
vaccines.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Rabies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: black">Rabies
is <FONT STYLE="background-color: white">a disease that causes acute </FONT></FONT><FONT STYLE="background-color: white">encephalitis,
or swelling of the brain, <FONT STYLE="color: black">in </FONT>warm-blooded <FONT STYLE="color: black">animals including humans.
The disease can be transmitted from one species of animal to another, such as from dogs to humans, most commonly by a bite from
an infected animal. For humans, rabies left untreated is almost invariably fatal.</FONT></FONT><FONT STYLE="color: black"> WHO
has estimated that, when looking at the total cost associated with rabies, in many countries, the cost of rabies post-exposure
prophylaxis represents the highest healthcare expenditure</FONT><FONT STYLE="color: Black"><SUP>3</SUP></FONT><FONT STYLE="color: black">.
In Asia and Africa, estimates show a combined 55,000 annual human deaths from endemic canine rabies, with annual treatment costs
approaching $600 million, although human deaths from rabies are likely to be grossly underreported in a number of countries, particularly
in the youngest age groups. In India alone, 20,000 deaths are estimated to occur annually. Internal market data of vaccine manufacturers
suggest that at the global level, 15 million or more people receive rabies prophylaxis annually, the majority of whom, live in
China and India. It is estimated that in the absence of post-exposure prophylaxis, about 327,000 persons would die from rabies
in Africa and Asia each year. Marketed rabies vaccines are mostly used for post-exposure prophylaxis, which requires generally
between four and five administrations of vaccine. Pre-exposure prophylaxis is recommended for anyone who will be at increased
risk to the rabies virus, including travelers with extensive outdoor exposure in rural high-risk areas<SUP>4</SUP>. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">CPLB is currently
developing a rabies vaccine candidate that we genetically engineered. CPLB expects to initiate a Phase 1 clinical trial in
India in late 2013 or early 2014. Our objective is to develop a recombinant vaccine that can be administered as a
pre-exposure prophylaxis for residents of certain higher-risk geographies, as well as travelers to such locations, and with
the potential to provide post-exposure prophylaxis with fewer doses. Preliminary pre-clinical results have demonstrated that
this vaccine candidate has the potential to successfully prevent the rabies virus from entering the central nervous system,
thus preventing death.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"><B>Other Emerging Diseases</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Novavax pays
close attention to global reports of emerging diseases for which there do not appear to be immediate cures and where a
vaccine protocol could offer potential protection. In addition to our response to the A(H7N9) influenza strain (see
discussion above), we have been monitoring reports around the Middle East Respiratory Syndrome Coronavirus (MERS), a novel
coronavirus first identified in September 2012 by an Egyptian virologist, but which had become an emerging threat in 2013
with more than 50 confirmed cases of MERS infection and 30 deaths. The MERS virus is a part of the coronavirus family that
includes the severe acute respiratory syndrome coronavirus (SARS). Because of the public health priority given to MERS,
within weeks of getting the virus&rsquo; sequence, Novavax successfully produced a vaccine candidate designed to provide
protection against MERS. This vaccine candidate, which was made using our recombinant nanoparticle vaccine technology, is
based on the major surface spike protein, which we had earlier identified in our work with a SARS vaccine candidate. Although
this currently remains a pre-clinical program, we believe that our MERS vaccine candidate offers a viable option to
interested global public health authorities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><SUP></SUP></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><SUP>3</SUP> WHO Technical Report
Series (2004)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in"><FONT STYLE="background-color: white"><SUP>4</SUP>
Yousaf,&nbsp;<I>et al</I>. Virology Journal<I>&nbsp;</I>(2012) 9:50</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Sales of Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In October 2012, the
Company entered into an At Market Issuance Sales Agreement (2012 Sales Agreement), under which the Board of Directors of the Company
(the Board) approved the Company&rsquo;s sale of up to an aggregate of $50 million in gross proceeds of its common stock. The shares
of common stock are being offered pursuant to a shelf registration statement filed with the SEC in March 2013, which replaced the
previous shelf registration statement filed in 2010. The Board has appointed a standing Finance Committee (the Committee) to assist
with its responsibilities to monitor, provide advice to senior management of the Company and approve all capital raising activities.
The Committee has been authorized by the Board, absent any action by the Board to the contrary, to take any additional actions
necessary to carry out the Board&rsquo;s authorization of the issuance and sale of the common stock sold pursuant to the 2012 Sales
Agreement. In doing so, the Committee is authorized to set the amount of shares to be sold, the period of time during which such
sales may occur and the minimum sales price per share. During the six months ended June 30, 2013, the Company sold 4.6 million
shares at sales prices ranging from of $2.06 &#9472; $2.63 per share, resulting in $10.0 million in net proceeds. The most recent
sales to occur under the 2012 Sales Agreement were on May 6, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Critical Accounting
Policies and Use of Estimates </I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">There are no material
changes to the Company&rsquo;s critical accounting policies as described in Item&nbsp;7 of the Company&rsquo;s Annual Report on
Form 10-K for the fiscal year ended December&nbsp;31, 2012, as filed with the SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Recent Accounting
Pronouncements Not Yet Adopted</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have considered
the applicability and impact of all Financial Accounting Standards Board&rsquo;s Accounting Standards Updates (ASUs). Recently
issued ASUs were evaluated and determined to be not applicable in this Quarterly Report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Results of Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following is a
discussion of the historical financial condition and results of operations of the Company and should be read in conjunction with
the financial statements and notes thereto set forth in this Quarterly Report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Three Months Ended June 30, 2013 and
2012 </B>(amounts in tables are presented in thousands, except per share information)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B><U>Revenue:</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Three
                                                                   Months Ended </B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>June
                                                                                                                                                                                         30,</B></P></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; color: black; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; color: black; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: black"><B>Change</B></FONT><BR>
    <FONT STYLE="font-size: 10pt; color: black"><B>2012 to</B></FONT><BR><FONT STYLE="font-size: 10pt; color: black"><B> </B></FONT><B><FONT STYLE="font-size: 10pt; color: Black">2013</FONT></B></TD><TD NOWRAP STYLE="padding-bottom: 1pt; color: black; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black; font-weight: bold">Revenue:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; text-align: left">Total revenue</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3,531</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">7,103</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(3,572</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Revenue for the three
months ended June 30, 2013 was $3.5 million as compared to $7.1 million for the same period in 2012, a decrease of $3.6 million
or 50%. Revenue for the three months ended June 30, 2013 and 2012 is primarily comprised of services performed under the HHS BARDA
contract and, to a much lesser extent in 2013, the PATH clinical development agreement. The decrease in revenue is primarily due
to the higher level of activity in the three months ended June 30, 2012 associated with our influenza clinical trials under the
HHS BARDA contract as compared to the same period in 2013 when no similar clinical trials were initiated, partially offset by revenue
under the PATH clinical development agreement in 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For 2013,
we expect a slight decrease in revenue due to fewer externally funded clinical trials in 2013 as compared to 2012, offset by
increased product development activities under the HHS BARDA contract to support the ultimate initiation of later-stage
clinical trials of our seasonal influenza and pandemic (H5N1) influenza vaccine candidates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B><U>Costs and Expenses:</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Three
                                                                   Months Ended </B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>June
                                                                                                                                                                                         30,</B></P></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Change</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>2012 to</B></FONT><BR>
    <FONT STYLE="font-size: 10pt"><B>2013</B></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Costs and Expenses:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; text-align: left">Cost of government contracts revenue</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,632</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">5,118</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(3,486</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Research and development</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,785</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,371</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">5,414</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">General and administrative</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4,012</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,469</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,543</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total costs and expenses</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">16,429</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">12,958</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,471</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><B><I>Cost
of Government Contracts Revenue</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Cost of government
contracts revenue includes direct costs of salaries, laboratory supplies, consultants and subcontractors and other direct costs
associated with our process development, manufacturing, clinical, regulatory and quality assurance activities under research contracts.
Cost of government contracts revenue decreased to $1.6 million for the three months ended June 30, 2013 from $5.1 million for the
same period in 2012, a decrease of $3.5 million, or 68%. The decrease in cost of government contracts revenue is primarily related
to the levels of activity associated with our influenza clinical trials previously mentioned, including the 205 Trial (see discussion
of the 205 Trial in <I>HHS BARDA Contract for Recombinant Influenza Vaccines </I>above).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For 2013,
we expect the cost of government contracts revenue to decrease due to fewer externally funded clinical trials in 2013 as
compared to 2012, offset by increased product development activities under the HHS BARDA contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><B><I>Research
and Development Expenses</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Research and development
expenses include salaries, laboratory supplies, consultants and subcontractors and other expenses associated with our process development,
manufacturing, clinical, regulatory and quality assurance activities for internally funded programs. In addition, indirect costs
such as fringe benefits and overhead expenses, are also included in research and development expenses. Research and development
expenses increased to $10.8 million for the three months ended June 30, 2013 from $5.4 million for the same period in 2012, an
increase of $5.4 million, or 101%. The increase in research and development expenses was primarily due to increased costs relating
to our RSV and pandemic (H7N9) influenza clinical trials (internally funded programs at this time) and higher employee-related
costs. For 2013, we expect a significant increase in research and development expenses primarily due to additional clinical trials
of our RSV and pandemic (H7N9) influenza vaccine candidates and employee-related costs to support product development of RSV and
other potential vaccine candidates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Costs and Expenses
by Functional Area</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We track our cost of
government contracts revenue and research and development expenses by the type of costs incurred in identifying, developing, manufacturing
and testing vaccine candidates. We evaluate and prioritize our activities according to functional area and therefore believe that
project-by-project information would not form a reasonable basis for disclosure to our investors. At June 30, 2013, we had 131
employees dedicated to our research and development programs versus 98<B> </B>employees as of June 30, 2012. Historically, we did
not account for internal research and development expenses by project, since our employees work time is spread across multiple
programs and our internal manufacturing clean-room facility produces multiple vaccine candidates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following summarizes
our cost of government contracts revenue and research and development expenses by functional area for the three months ended June
30 (in millions).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 70%; font: 10pt Times New Roman, Times, Serif; margin-left: 1in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; color: black; font-weight: bold">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; color: black; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 70%; color: black">Manufacturing</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">7.4</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">5.2</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Vaccine Discovery</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.1</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0.8</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Clinical and Regulatory</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3.9</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">4.5</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: -0.125in; padding-left: 0.125in">Total cost of government contracts revenue and research and development expenses</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">12.4</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">10.5</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We do not provide forward-looking
estimates of costs and time to complete our research programs due to the many uncertainties associated with vaccine development.
As we obtain data from pre-clinical studies and clinical trials, we may elect to discontinue or delay clinical trials in order
to focus our resources on more promising vaccine candidates. Completion of clinical trials may take several years or more, but
the length of time can vary substantially depending upon the phase, size of clinical trial, primary and secondary endpoints and
the intended use of the vaccine candidate. The cost of clinical trials may vary significantly over the life of a project as a result
of a variety of factors, including:</P>

<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; text-align: justify"><FONT STYLE="font-size: 10pt">the number of patients who participate in the clinical trials and the specific patient population;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; text-align: justify"><FONT STYLE="font-size: 10pt">the number of sites included in the clinical trials;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; text-align: justify"><FONT STYLE="font-size: 10pt">if clinical trial locations are domestic, international or both;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; text-align: justify"><FONT STYLE="font-size: 10pt">the time to enroll patients;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; text-align: justify"><FONT STYLE="font-size: 10pt">the duration of treatment and follow-up;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; text-align: justify"><FONT STYLE="font-size: 10pt">the safety and efficacy profile of the vaccine candidate; and</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Symbol; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 8%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font: 10pt Symbol">&middot;</FONT></TD>
    <TD STYLE="width: 88%; text-align: justify"><FONT STYLE="font-size: 10pt">the cost and timing of, and the ability to secure, regulatory approvals.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 33.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As a result of these
uncertainties, we are unable to determine with any significant degree of certainty the duration and completion costs of our research
and development projects or when, and to what extent, we will generate future cash flows from our research projects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>General</I></B></FONT><B><I>
and Administrative Expenses</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">General and
administrative expenses increased to $4.0 million for the three months ended June 30, 2013 from $2.5 million for the same
period in 2012, an increase of $1.5 million, or 62%. The increase in expenses was primarily due to higher professional fees
associated with our public tender offer of Isconova. For 2013, we expect general and administrative expenses to increase as a
result of professional fees associated with our public tender offer of Isconova.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B><U>Other Income (Expense):</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Three
                                                                   Months Ended </B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>June
                                                                                                                                                                                         30,</B></P></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; color: black; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; color: black; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: black"><B>Change<BR>
2012 to<BR>
2013</B></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; color: black; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Other Income (Expense):</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; color: black; text-align: left">Interest income</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">48</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">39</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">9</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black; text-align: left">Interest expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(45</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(3</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(42</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt">Change in fair value of warrant liability</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">267</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(101</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">368</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total other income (expense)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">270</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(65</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">335</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We had total other
income of $0.3<B> </B>million for the three months ended June 30, 2013 compared to total other expense of $0.1 million for the
same period in 2012. For the three months ended June 30, 2013, the change in fair value of the warrant liability resulted in a
$0.4 million increase in total other income as compared to the same period in 2012. The warrants expired unexercised on July 31,
2013.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Net Loss:</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Three
                                                                   Months Ended </B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>June
                                                                                                                                                                                         30,</B></P></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Change<BR>
2012 to<BR>
2013</B></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Net Loss:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; text-align: left">Net loss</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(12,633</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(5,920</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(6,713</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Net loss per share</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.08</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.05</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.03</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Weighted shares outstanding</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">152,312</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">126,925</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">25,387</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Net loss for the three
months ended June 30, 2013 was $12.6 million, or $0.08 per share, as compared to $5.9 million, or $0.05 per share, for the same
period in 2012, an increased net loss of $6.7 million. The increased net loss was primarily due to higher research and development
spending, including increased costs relating to our RSV and pandemic (H7N9) influenza clinical trials and higher employee-related
costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The increase in weighted
average shares outstanding for the three months ended June 30, 2013 is primarily a result of sales of our common stock in the aggregate
of 35.5 million shares in 2012 and 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Six Months Ended June 30, 2013 and 2012
</B>(amounts in tables are presented in thousands, except per share information)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B><U>Revenue:</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Six
                                                                   Months Ended </B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>June
                                                                                                                                                                                       30,</B></P></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; color: black; font-weight: bold">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; color: black; font-weight: bold">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: black"><B>Change<BR>
2012 to<BR>
2013</B></FONT></TD><TD STYLE="padding-bottom: 1pt; color: black; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black; font-weight: bold">Revenue:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; text-align: left">Total revenue</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">7,365</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">11,745</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(4,380</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Revenue for the six
months ended June 30, 2013 was $7.4 million as compared to $11.7 million for the same period in 2012, a decrease of $4.4 million
or 37%. Revenue for the six months ended June 30, 2013 and 2012 is primarily comprised of services performed under the HHS BARDA
contract and, to a much lesser extent in 2013, the PATH clinical development agreement. The decrease in revenue is primarily due
to the higher level of activity in the six months ended June 30, 2012 associated with our influenza clinical trials under the HHS
BARDA contract as compared to the same period in 2013 when no similar clinical trials were initiated, partially offset by revenue
under the PATH clinical development agreement in 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B><U>Costs and Expenses:</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Six
                                                                   Months Ended </B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>June
                                                                                                                                                                                       30,</B></P></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Change<BR>
2012 to<BR>
2013</B></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Costs and Expenses:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; text-align: left">Cost of government contracts revenue</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3,344</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">8,903</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(5,559</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left">Research and development</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20,041</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,627</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">9,414</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">General and administrative</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,882</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">5,537</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,345</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total costs and expenses</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">30,267</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">25,067</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">5,200</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><B><I>Cost
of Government Contracts Revenue</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Cost of government
contracts revenue includes direct costs of salaries, laboratory supplies, consultants and subcontractors and other direct costs
associated with our process development, manufacturing, clinical, regulatory and quality assurance activities under research contracts.
Cost of government contracts revenue decreased to $3.3 million for the six months ended June 30, 2013 from $8.9 million for the
same period in 2012, a decrease of $5.6 million, or 62%. The decrease in cost of government contracts revenue is primarily related
to the levels of activity associated with our influenza clinical trials previously mentioned, including the 205 Trial (see discussion
of the 205 Trial in <I>HHS BARDA Contract for Recombinant Influenza Vaccines </I>above).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><B><I>Research
and Development Expenses</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Research and development
expenses include salaries, laboratory supplies, consultants and subcontractors and other expenses associated with our process development,
manufacturing, clinical, regulatory and quality assurance activities for internally funded programs. In addition, indirect costs
such as fringe benefits and overhead expenses, are also included in research and development expenses. Research and development
expenses increased to $20.0 million for the six months ended June 30, 2013 from $10.6 million for the same period in 2012, an increase
of $9.4 million, or 89%. The increase in research and development expenses was primarily due to increased costs relating to our
RSV and pandemic (H7N9) influenza clinical trials (internally funded programs at this time) and higher employee-related costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Costs and Expenses
by Functional Area</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following summarizes
our cost of government contracts revenue and research and development expenses by functional area for the six months ended June
30 (in millions).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif; margin-left: 0.5in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD STYLE="padding-bottom: 1pt; color: black; font-weight: bold">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD STYLE="padding-bottom: 1pt; color: black; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 70%; color: black">Manufacturing</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">13.2</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 12%; text-align: right">9.6</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Vaccine Discovery</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">2.6</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">1.6</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Clinical and Regulatory</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7.6</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8.3</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; padding-left: 0.125in; text-indent: -0.125in">Total cost of government contracts revenue and research and development expenses</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">23.4</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">19.5</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B><I>General</I></B></FONT><B><I>
and Administrative Expenses</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">General and
administrative expenses increased to $6.9 million for the three months ended June 30, 2013 from $5.5 million for the same
period in 2012, an increase of $1.3 million, or 24%. The increase in expenses was primarily due to higher professional
fees associated with our public tender offer of Isconova.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B><U>Other Income (Expense):</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Six
                                                                   Months Ended </B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>June
                                                                                                                                                                                       30,</B></P></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD><TD NOWRAP STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; color: black; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; color: black; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="color: black; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="color: black; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt; color: black"><B>Change<BR>
2012 to<BR>
2013</B></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; color: black; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Other Income (Expense):</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; color: black; text-align: left">Interest income</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">95</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">72</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">23</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black; text-align: left">Interest expense</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(68</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(6</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">(62</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt">Change in fair value of warrant liability</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">267</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">&#8213;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">267</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total other income (expense)</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">294</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">66</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">228</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We had total other
income of $0.3<B> </B>million for the six months ended June 30, 2013 compared to total other income of $0.1 million for the same
period in 2012. For the six months ended June 30, 2013, the change in fair value of the warrant liability resulted in a $0.3 million
increase in total other income as compared to the same period in 2012. The warrants expired unexercised on July 31, 2013.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><U>Net Loss:</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 80%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Six
                                                                   Months Ended </B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>June
                                                                                                                                                                                       30,</B></P></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Change<BR>
2012 to<BR>
2013</B></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="font-weight: bold; text-align: left">Net Loss:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 61%; text-align: left">Net loss</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(22,630</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(13,256</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">(9,374</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD>Net loss per share</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.15</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.11</TD><TD STYLE="text-align: left">)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">(0.04</TD><TD STYLE="text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>Weighted shares outstanding</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">150,391</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">123,741</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">26,650</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Net loss for the six
months ended June 30, 2013 was $22.6 million, or $0.15 per share, as compared to $13.3 million, or $0.11 per share, for the same
period in 2012, an increased net loss of $9.4 million. The increased net loss was primarily due to higher research and development
spending, including increased costs relating to our RSV and pandemic (H7N9) influenza clinical trials and higher employee-related
costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The increase in weighted
average shares outstanding for the six months ended June 30, 2013 is primarily a result of sales of our common stock in the aggregate
of 35.5 million shares in 2012 and 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><B>Liquidity Matters
and Capital Resources</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our future capital
requirements depend on numerous factors including, but not limited to, the commitments and progress of our research and development
programs, the progress of pre-clinical and clinical testing, the time and costs involved in obtaining regulatory approvals, the
costs of filing, prosecuting, defending and enforcing patent claims and other intellectual property rights and manufacturing costs.
We plan to continue to have multiple vaccines and products in various stages of development, and we believe our operating expenses
and capital requirements will fluctuate depending upon the timing of certain events, such as the scope, initiation, rate and progress
of our pre-clinical studies and clinical trials and other research and development activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of June 30, 2013,
we had $40.6 million in cash and cash equivalents and investments as compared to $50.3 million as of December 31, 2012. These amounts
consisted of $2.6 million in cash and cash equivalents and $38.0 million in investments as of June 30, 2013 as compared to $17.4
million in cash and cash equivalents and $32.9 million in investments at December 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
summarizes cash flows for the six months ended June 30, 2013 and 2012 (in thousands):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Six
                                                                   Months Ended </B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>June
                                                                                                                                                                                       30,</B></P></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2013</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">2012</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt"><B>Change
    2012<BR>
to 2013</B></FONT></TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black; font-weight: bold; text-align: left">Summary of Cash Flows:</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: right">&nbsp;</TD><TD STYLE="color: black; font-weight: bold; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Net cash (used in) provided by:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="width: 61%; color: black; text-align: left; text-indent: 9pt">Operating activities</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 10%; color: black; text-align: right">(18,216</TD><TD STYLE="width: 1%; color: black; text-align: left">)</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 10%; color: black; text-align: right">(10,346</TD><TD STYLE="width: 1%; color: black; text-align: left">)</TD><TD STYLE="width: 1%; color: black">&nbsp;</TD>
    <TD STYLE="width: 1%; color: black; text-align: left">$</TD><TD STYLE="width: 10%; color: black; text-align: right">(7,870</TD><TD STYLE="width: 1%; color: black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; text-indent: 9pt">Investing activities</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(8,181</TD><TD STYLE="color: black; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(7,798</TD><TD STYLE="color: black; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(383</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt; text-indent: 9pt">Financing activities</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">11,572</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">19,374</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">(7,802</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left">Net (decrease) increase in cash and cash equivalents</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(14,825</TD><TD STYLE="color: black; text-align: left">)</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">1,230</TD><TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black">&nbsp;</TD>
    <TD STYLE="color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; text-align: right">(16,055</TD><TD STYLE="color: black; text-align: left">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,255,204)">
    <TD STYLE="color: black; text-align: left; padding-bottom: 1pt">Cash and cash equivalents at beginning of period</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">17,399</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">14,104</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; color: black; text-align: right">3,295</TD><TD STYLE="padding-bottom: 1pt; color: black; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: black; text-align: left; padding-bottom: 2.5pt">Cash and cash equivalents at end of period</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">2,574</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">15,334</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">&nbsp;</TD><TD STYLE="color: black; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: black; text-align: right">(12,760</TD><TD STYLE="padding-bottom: 2.5pt; color: black; text-align: left">)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Net cash used in operating
activities increased to $18.2<B> </B>million for the six months ended June 30, 2013 as compared to $10.3 million for the same period
in 2012, respectively. The increase in cash usage was primarily due to increased costs relating to our RSV and pandemic (H7N9)
influenza clinical trials and higher employee-related costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the six months
ended June 30, 2013 and 2012, our investing activities consisted of purchases and maturities of investments and capital expenditures.
In the six months ended June 30, 2013 and 2012, we primarily purchased investments to increase our rate of return on our investments.
Capital expenditures for the six months ended June 30, 2013 and 2012 were $3.2 million and $1.1 million, respectively. The increase
in capital expenditures was primarily due to purchase of laboratory equipment and tenant improvements relating to our new manufacturing
facility. In late 2013, we expect our level of capital expenditures to decrease due to the expected completion of the scale-up
work on our new manufacturing facility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our
financing activities consist primarily of sales of our common stock. We received net proceeds of $10.0 million at an average
sales price of $2.22 per share in the six months ended June 30, 2013 as compared to $20.0 million at an average sales price
of $1.29 per share in the same period of 2012 from the sale of our common stock through our At Market Issuance Sales
Agreements in 2013 and 2012 and to two affiliates of RA Capital Management, LLC in 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In November&nbsp;2011,
we entered into lease agreements under which we lease our new manufacturing, laboratory and office space in Gaithersburg, Maryland
with rent payments for such space to the landlord commencing April 1, 2014. Under the terms of the arrangement, the landlord provided
us with a tenant improvement allowance of $2.5 million and an additional tenant improvement allowance of $3 million (collectively,
the Improvement Allowance). The additional tenant improvement allowance is to be paid back to the landlord over the remaining term
of the lease agreement through additional rent payments. We were funded $0.7 million in the six months ended June 30, 2013, and
have been funded $5.0 million in total under the Improvement Allowance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In September 2012,
we entered into a master security agreement, whereby we could borrow up to $2.0 million to finance the purchases of equipment through
June 2013 (Equipment Loan). We financed $1.5 million in the six months ended June 30, 2013, and have financed $2.0 million in total
under the Equipment Loan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have entered into
agreements with outside providers to support our clinical development. As of June 30, 2013, $4.9 million remains unpaid on certain
of these agreements in the event our outside providers complete their services in 2013. However, under the terms of the agreements,
we have the option to terminate for convenience pursuant to notification, but we would be obligated to pay the provider for all
costs incurred through the effective date of termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have licensed certain
rights from Wyeth. The Wyeth license, which provides for an upfront payment (previously made), ongoing annual license fees, milestone
payments and royalties on any product sales, is a non-exclusive, worldwide license to a family of patent applications covering
VLP technology for use in human vaccines in certain fields, with expected patent expiration in early 2022. The license may be
terminated by Wyeth only for cause and may be terminated by us only after we have provided ninety (90) days notice that we have
absolutely and finally ceased activity, including through any affiliate or sublicense, related to the manufacturing, development,
marketing or sale of products covered by the license. Payments under the agreement to Wyeth from 2007 through June 30, 2013 totaled
$5.7&nbsp;million, of which no amounts were paid in the six months ended June 30, 2013. We do not expect to make a milestone payment
to Wyeth in the next 12 months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
CPLB, we entered into a master services agreement with Cadila, which we and Cadila amended first in July 2011, and subsequently
in March 2013, in each case to extend the term by one year for which services can be provided by Cadila under this agreement.
Under the revised terms, if, by March 2014, the amount of services provided by Cadila under the master services agreement is less
than $7.5 million, we will pay Cadila the portion of the shortfall amount that is less than or equal to $2.0 million and 50% of
the portion of the shortfall amount that exceeds $2.0 million. Through June 30, 2013, we have purchased $1.8<B> </B>million in
services from Cadila pursuant to this agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based on our current
cash and cash equivalents and investments, including our recent private equity offerings, anticipated revenue under the contract
with HHS BARDA, possible proceeds from the sales of our common stock under our 2012 Sales Agreement and our current business operations,
we believe we have adequate capital resources available to fund our operating plans into 2015. Additional capital will be required
in the future to develop our vaccine candidates through clinical development, manufacturing and commercialization. Our ability
to obtain such additional capital is subject to various factors:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">generating revenue under the HHS BARDA contract is subject to our performance under the contract,
including our ability to collect on delayed reimbursement situations, such as the 205 Trial costs; and</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">raising funds under our 2012 Sales Agreement is subject to both our business performance and market
conditions.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Further, we may seek
additional capital through further public or private equity offerings, debt financing, additional strategic alliance and licensing
arrangements, non-dilutive government contracts, collaborative arrangements or some combination of these financing alternatives.
Any capital raised by an equity offering will likely be substantially dilutive to the existing stockholders and any licensing or
development arrangement may require us to give up rights to a product or technology at less than its full potential value. Other
than our 2012 Sales Agreement and Improvement Allowance, we have not secured any additional commitments for new financing nor can
we provide any assurance that new financing will be available on commercially acceptable terms, if at all. If we are unable to
perform under the HHS BARDA contract or obtain additional capital, we will assess our capital resources and will likely be required
to delay, reduce the scope of, or eliminate one or more of our product research and development programs, and/or downsize our organization,
including our general and administrative infrastructure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 3.&#9;Quantitative and Qualitative
Disclosures About Market Risk</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The primary objective
of our investment activities is to preserve our capital until it is required to fund operations while at the same time maximizing
the income we receive from our investments without significantly increasing risk. As of June 30, 2013, we had cash and cash equivalents
of $2.6 million, investments of $38.0 million, all of which are short-term, and working capital of $34.1 million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our exposure to market
risk is primarily confined to our investment portfolio. As of June 30, 2013, our investments were classified as available-for-sale.
We do not believe that a change in the market rates of interest would have any significant impact on the realizable value of our
investment portfolio. Changes in interest rates may affect the investment income we earn on our investments when they mature and
the proceeds are reinvested into new investments and, therefore, could impact our cash flows and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Interest and dividend
income is recorded when earned and included in interest income. Premiums and discounts, if any, on investments are amortized or
accreted to maturity and included in interest income. The specific identification method is used in computing realized gains and
losses on the sale of our securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are headquartered
in the U.S. where we conduct the vast majority of our business activities. Accordingly, we have not had any material exposure to
foreign currency rate fluctuations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We do not have material
debt and, as such, do not believe that we are exposed to any material interest rate risk as a result of our borrowing activities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item&nbsp;4. Controls and Procedures</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Evaluation of Disclosure Controls and Procedures</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our management, with
the assistance of our Chief Executive Officer and Chief Financial Officer, has reviewed and evaluated the effectiveness of our
disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended)
as of June 30, 2013. Management recognizes that any controls and procedures, no matter how well designed and operated, can provide
only reasonable assurance of achieving their objectives and management necessarily applies its judgment in evaluating the cost-benefit
relationship of possible controls and procedures. Our disclosure controls and procedures are designed to provide reasonable assurance
of achieving their control objectives. Based on the evaluation of our disclosure controls and procedures as of June 30, 2013, our
Chief Executive Officer and Chief Financial Officer concluded that, as of such date, our disclosure controls and procedures were
effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Changes in Internal Control over Financial Reporting</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our management, including
our Chief Executive Officer and Chief Financial Officer, has evaluated any changes in our internal control over financial reporting
that occurred during the second quarter of 2013, and has concluded that there was no change that occurred during the second quarter
of 2013 that materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART II. OTHER INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item&nbsp;1A. Risk Factors</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">There are no
material changes to the Company&rsquo;s risk factors as described in Part II, Item&nbsp;1A, &ldquo;Risk Factors&rdquo; of
the Company&rsquo;s Annual Report on Form 10-K for the year ended December&nbsp;31, 2012, except as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B><I>Our business
may be adversely affected if we do not successfully execute our business development initiatives.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We anticipate growing
through both internal development projects, as well as external opportunities, which include the acquisition, partnering and in-licensing
of products, technologies and companies or the entry into strategic alliances and collaborations. The availability of high quality
opportunities is limited, and we may fail to identify candidates that we and our stockholder consider suitable or complete transactions
on terms that prove advantageous. In order to pursue such opportunities, we may require significant additional financing, which
may not be available to us on favorable terms, if at all. Even if we are able to successfully identify and complete acquisitions,
like our expected business combination with Isconova, we may not be able to integrate the assets or take full advantage of the
opportunities and, consequently, may not realize the benefits that we expect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To effectively manage
our current and future potential growth, we will need to continue to enhance our operational, financial and management processes
and to effectively expand, train and manage our employee base. Supporting our growth initiatives will require significant expenditures
and management resources, including investments in research and development, manufacturing and other areas of our business. If
we do not successfully manage our growth and do not successfully execute our growth initiatives, then our business and financial
results may be adversely impacted, and we may incur asset impairment or restructuring charges.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item&nbsp;6. Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Exhibits marked with
a single asterisk (*) are filed herewith. Exhibits marked with a double plus sign (&dagger;&dagger;) refer to management contracts,
compensatory plans or arrangements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; text-align: left"><FONT STYLE="font-size: 10pt; color: black">3.1*</FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 88%; text-align: justify"><FONT STYLE="font-size: 10pt; color: black">Amended and Restated Certificate of Incorporation of Novavax, Inc., as amended by Certificates of Amendment dated December 18, 2000, July 8, 2004, May 13, 2009 and dated June 13, 2013</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: black">10.1</FONT><FONT STYLE="font-size: 10pt">&dagger;&dagger;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black">Employment agreement between Novavax, Inc. and Barclay A. Phillips dated June 24, 2013 (Incorporated by reference to Exhibit 99.2 to the Company&rsquo;s Current Report on Form 8-K, filed June 28, 2013) </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: black">31.1*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black">Certification of Chief Executive Officer pursuant to Rule 13a-14(a) or 15d-14(e) of the Securities Exchange Act </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: black">31.2*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black">Certification of Chief Financial Officer pursuant to Rule 13a-14(a) or 15d-14(e) of the Securities Exchange Act&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: black">32.1*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black">Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 10pt; color: black">32.2*</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: black">Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 </FONT></TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the requirements
of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><B>NOVAVAX, INC.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 47%; text-align: justify"><FONT STYLE="font-size: 10pt">Date: August 8, 2013</FONT></TD>
    <TD STYLE="width: 3%; text-align: justify"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 50%; border-bottom: windowtext 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ Stanley C. Erck</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">President and Chief Executive Officer and Director</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">(Principal Executive Officer)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Date: August 8, 2013</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; text-align: justify"><FONT STYLE="font-size: 10pt">/s/ Barclay A. Phillips</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Senior Vice President, Chief Financial Officer and Treasurer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">(Principal Financial and Accounting Officer)</FONT></TD></TR>
</TABLE>
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<TYPE>EX-3.1
<SEQUENCE>2
<FILENAME>v350840_ex3-1.htm
<DESCRIPTION>EXHIBIT 3.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 3.1</B></P>



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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">AMENDED
AND RESTATED<BR>
CERTIFICATE OF INCORPORATION<BR>
OF<BR>
NOVAVAX, INC.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">NOVAVAX, INC. (the &ldquo;Corporation&rdquo;),
a corporation originally organized and incorporated under the name MPS, Inc. by the filing of a Certificate of Incorporation in
the office of the Secretary of State of the State of Delaware on June 18, 1987, as amended by a Certificate of Amendment dated
July 30, 1987 and filed in the Office of the Secretary of State of the State of Delaware on August 3, 1987, a Certificate of Merger
dated February 5, 1988 filed in the Office of the Secretary of State of the State of Delaware on February 9, 1988, a Certificate
of Amendment dated October 4, 1991 and filed in the Office of the Secretary of State of the State of Delaware on October 7, 1991,
and a Certificate of Amendment dated November 20, 1995 and filed in the Office of the Secretary of State of the State of Delaware
on November 20, 1995, and existing under and by virtue of the General Corporation Law of the State of Delaware, does hereby certify
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Board of Directors of the Corporation,
at a meeting duly held on November 17, 1995, adopted a resolution, pursuant to Sections 242 and 245 of the General Corporation
Law of the State of Delaware, setting forth an Amended and Restated Certificate of Incorporation of the Corporation and declaring
said Amended and Restated Certificate of Incorporation advisable. The stockholders of the Corporation duly approved said proposed
Amended and Restated Certificate of Incorporation by written consent in accordance with Sections 228, 242 and 245 of the General
Corporation Law of the State of Delaware, and written notice of such consent has been given to all stockholders who have not consented
in writing to said restatement. The resolution setting forth the Amended and Restated Certificate of Incorporation is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">RESOLVED: That the Restated Certificate
of Incorporation of the Corporation, as amended, be and hereby is amended and restated in its entirety so that the same shall read
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">FIRST: The name of the Corporation is: Novavax,
Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECOND: The address of its registered office
in the State of Delaware is Corporation Trust Center, 1209 Orange Street, in the City of Wilmington, County of New Castle. The
name of its registered agent at such address is The Corporation Trust Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">THIRD: The nature of the business or purposes
to be conducted or promoted by the Corporation is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">To engage in any lawful act or activity
for which corporations may be organized under the General Corporation Law of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">FOURTH: The total number of shares of all
classes of stock which the Corporation shall have authority to issue is (i) thirty million (30,000,000) shares of Common Stock,
$.01 par value per share (&ldquo;Common Stock&rdquo;), and (ii) two million (2,000,000) shares of Preferred Stock, $.01 par value
per share (&ldquo;Preferred Stock&rdquo;), which may be issued from time to time in one or more series as set forth in Part B of
this Article FOURTH.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following is a statement of the designations
and the powers, privileges and rights, and the qualifications, limitations or restrictions thereof in respect of each class of
capital stock of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">A.</TD><TD>COMMON STOCK.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.&#9;<U>General</U>. The voting, dividend
and liquidation rights of the holders of the Common Stock are subject to and qualified by the rights of the holders of the Preferred
Stock of any series as may be designated by the Board of Directors upon any issuance of the Preferred Stock of any series.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&#9;<U>Voting</U>. The holders of the
Common Stock are entitled to one vote for each share held at all meetings of stockholders (and written actions in lieu of meetings).
There shall be no cumulative voting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The number of authorized shares of Common
Stock may be increased or decreased (but not below the number of shares thereof then outstanding) by the affirmative vote of the
holders of a majority of the stock of the Corporation entitled to vote, irrespective of the provisions of Section 242(b)(2) of
the General Corporation Law of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.&#9;<U>Dividends</U>. Dividends may be
declared and paid on the Common Stock from funds lawfully available therefor as and when determined by the Board of Directors and
subject to any preferential dividend rights of any then outstanding Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.&#9;<U>Liquidation</U>. Upon the dissolution
or liquidation of the Corporation, whether voluntary or involuntary, holders of Common Stock will be entitled to receive all assets
of the Corporation available for distribution to its stockholders, subject to any preferential rights of any then outstanding Preferred
Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">B.</TD><TD>PREFERRED STOCK.</TD></TR></TABLE>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Preferred Stock may be issued from time
to time in one or more series, each of such series to have such terms as stated or expressed herein and in the resolution or resolutions
providing for the issue of such series adopted by the Board of Directors of the Corporation as hereinafter provided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any shares of Preferred Stock which may
be redeemed, purchased or acquired by the Corporation may be reissued except as otherwise provided by law. Different series of
Preferred Stock shall not be construed to constitute different classes of shares for the purposes of voting by classes unless expressly
provided.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Authority is hereby expressly granted to
the Board of Directors from time to time to issue the Preferred Stock in one or more series, and in connection with the creation
of any such series, by resolution or resolutions providing for the issue of the shares thereof, to determine and fix such voting
powers, full or limited, or no voting powers, and such designations, preferences and relative participating, optional or other
special rights, and qualifications, limitations or restrictions thereof, including without limitation thereof, dividend rights,
conversion rights, redemption privileges and liquidation preferences, as shall be stated and expressed in such resolutions, all
to the full extent now or hereafter permitted by the General Corporation Law of Delaware. Without limiting the generality of the
foregoing, the resolutions providing for issuance of any series of Preferred Stock may provide that such series shall be superior
or rank equally or be junior to the Preferred Stock of any other series to the extent permitted by law. Except as otherwise specifically
provided in this Certificate of Incorporation, no vote of the holders of the Preferred Stock or Common Stock shall be a prerequisite
to the issuance of any shares of any series of the Preferred Stock authorized by and complying with the conditions of the Certificate
of Incorporation, the right to have such vote being expressly waived by all present and future holders of the capital stock of
the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">FIFTH: The Corporation shall have a perpetual
existence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SIXTH: In furtherance of and not in limitation
of powers conferred by statute, it is further provided that the Board of Directors is expressly authorized to adopt, amend or repeal
the By-Laws of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SEVENTH: Whenever a compromise or arrangement
is proposed between this corporation and its creditors or any class of them and/or between this corporation and its stockholders
or any class of them, any court of equitable jurisdiction within the State of Delaware may, on the application in a summary way
of this corporation or of any creditor or stockholder thereof, or on the application of any receiver or receivers appointed for
this corporation under the provisions of section 291 of Title 8 of the Delaware Code or on the application of trustees in dissolution
or of any receiver or receivers appointed for this corporation under the provisions of section 279 of Title 8 of the Delaware Code
order a meeting of the creditors or class of creditors, and/or of the stockholders or class of stockholders of this corporation,
as the case may be, to be summoned in such manner as the said court directs. If a majority in number representing three-fourths
in value of the creditors or class of creditors, and/or of the stockholders or class of stockholders of this corporation, as the
case may be, agree to any compromise or arrangement and to any promise or arrangement, the said compromise or arrangement and the
said reorganization shall, if sanctioned by the court to which the said application has been made, be binding on all the creditors
or class of creditors, and/or on all the stockholders or class of stockholders, of this corporation, as the case may be, and also
on this corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">EIGHTH: Except to the extent that the General
Corporation Law of the State of Delaware prohibits the elimination or limitation of liability of directors for breaches of fiduciary
duty, no director of the Corporation shall be personally liable to the Corporation or its stockholders for monetary damages for
any breach of fiduciary duty as a director, notwithstanding any provision of law imposing such liability. No amendment to or repeal
of this provision shall apply to or have any effect on the liability or alleged liability of any director of the Corporation for
or with respect to any acts or omissions of such director occurring prior to such amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">NINTH: 1. <U>Action,
Suits and Proceedings Other than by or in the Right of the Corporation</U>. The Corporation shall indemnify each person who was
or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil,
criminal, administrative or investigative (other than an action by or in the right of the Corporation), by reason of the fact that
he is or was, or has agreed to become, a director or officer of the Corporation, or is or was serving, or has agreed to serve,
at the request of the Corporation, as a director, officer or trustee of, or in a similar capacity with, another corporation, partnership,
joint venture, trust or other enterprise (including any employee benefit plan) (all such persons being referred to hereafter as
an &ldquo;Indemnitee&rdquo;), or by reason of any action alleged to have been taken or omitted in such capacity, against all expenses
(including attorneys&rsquo; fees) judgment, fines and amounts paid in settlement actually and reasonably incurred by him or on
his behalf in connection with such action, suit or proceeding and any appeal therefrom, if he acted in good faith and in a manner
he reasonably believed to be in, or not opposed to, the best interests of the Corporation, and, with respect to any criminal action
or proceeding, had no reasonable cause to believe his conduct was unlawful. The termination of any action, suit or proceeding by
judgment, order, settlement, conviction or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption
that the person did not act in good faith and in a manner which he reasonably believed to be in, or not opposed to, the best interests
of the Corporation, and, with respect to any criminal action or proceeding, had reasonable cause to believe that his conduct was
unlawful.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding anything to the contrary
in this Article, except as set forth in Section 6 below, the Corporation shall not indemnify an Indemnitee seeking indemnification
in connection with a proceeding (or part thereof) initiated by the Indemnitee unless the initiation thereof was approved by the
Board of Directors of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&#9;<U>Actions or Suits by or in the Right
of the Corporation</U>. The Corporation shall indemnify any Indemnitee who was or is a party or is threatened to be made a party
to any threatened, pending or completed action or suit by or in the right of the Corporation to procure a judgment in its favor
by reason of the fact that he is or was, or has agreed to become, a director or officer of the Corporation, or is or was serving,
or has agreed to serve, at the request of the Corporation, as a director, officer or trustee of, or in a similar capacity with,
another corporation, partnership, joint venture, trust or other enterprise (including any employee benefit plan), or by reason
of any action alleged to have been taken or omitted in such capacity, against all expenses (including attorneys&rsquo; fees) and
amounts paid in settlement actually and reasonably incurred by him or on his behalf in connection with such action, suit or proceeding
and any appeal therefrom, if he acted in good faith and in a manner he reasonably believed to be in, or not opposed to, the best
interests of the Corporation, except that no indemnification shall be made in respect of any claim, issue or matter as to which
such person shall have been adjudged to be liable to the Corporation unless and only to the extent that the Court of Chancery of
Delaware shall determine upon application that, despite the adjudication of such liability but in view of all the circumstances
of the case, such person is fairly and reasonably entitled to indemnity for such expenses (including attorneys&rsquo; fees) which
the Court of Chancery of Delaware shall deem proper.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.&#9;<U>Indemnification for Expenses of
Successful Party</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding the other provisions of
this Article, to the extent that an Indemnitee has been successful, on the merits or otherwise, in defense of any action, suit
or proceeding referred to in Sections 1 and 2 of this Article, or in defense of any claim, issue or matter therein, or on appeal
from any such action, suit or proceeding, he shall be indemnified against all expenses (including attorneys&rsquo; fees) actually
and reasonably incurred by him or on his behalf in connection therewith. Without limiting the foregoing, if any action, suit or
proceeding is disposed of, on the merits or otherwise (including a disposition without prejudice), without (i) the disposition
being adverse to the Indemnitee, (ii) an adjudication that the Indemnitee was liable to the Corporation, (iii) a plea of guilty
or nolo contendere by the Indemnitee, (iv) an adjudication that the Indemnitee did not act in good faith and in a manner he reasonably
believed to be in or not opposed to the best interests of the Corporation, and (v) with respect to any criminal proceeding, an
adjudication that the Indemnitee had reasonable cause to believe his conduct was unlawful, the Indemnitee shall be considered for
the purposes hereof to have been wholly successful with respect thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.&#9;<U>Notification and Defense of Claim</U>.
As a condition precedent to his right to be indemnified, the Indemnitee must notify the Corporation in writing as soon as practicable
of any action, suit, proceeding or investigation involving him for which indemnity will or could be sought.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">With respect to any action, suit, proceeding
or investigation of which the Corporation is so notified, the Corporation will be entitled to participate therein at its own expense
and/or to assume the defense thereof at its own expense, with legal counsel reasonably acceptable to the Indemnitee. After notice
from the Corporation to the Indemnitee of its election so to assume such defense, the Corporation shall not be liable to the Indemnitee
for any legal or other expenses subsequently incurred by the Indemnitee in connection with such claim, other than as provided below
in this Section 4. The Indemnitee shall have the right to employ his own counsel in connection with such claim, but the fees and
expenses of such counsel incurred after notice from the Corporation of its assumption of the defense thereof shall be at the expense
of the Indemnitee unless (i) the employment of counsel by the Indemnitee has been authorized by the Corporation, (ii) counsel to
the Indemnitee shall have reasonably concluded that there may be a conflict of interest or position on any significant issue between
the Corporation and the Indemnitee in the conduct of the defense of such action or (iii) the Corporation shall not in fact have
employed counsel to assume the defense of such action, in each of which cases the fees and expenses of counsel for the Indemnitee
shall be at the expense of the Corporation, except as otherwise expressly provided by this Article. The Corporation shall not be
entitled, without the consent of the Indemnitee, to assume the defense of any claim brought by or in the right of the Corporation
or as to which counsel for the Indemnitee shall have reasonably made the conclusion provided for in clause (ii) above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">5.&#9;<U>Advance of Expenses</U>. Subject
to the provisions of Section 6 below, in the event that the Corporation does not assume the defense pursuant to Section 4 of this
Article of any action, suit, proceeding or investigation of which the Corporation receives notice under this Article, any expenses
(including attorneys&rsquo; fees) incurred by an Indemnitee in defending a civil or criminal action, suit, proceeding or investigation
or any appeal therefrom shall be paid by the Corporation in advance of the final disposition of such matter; provided, however,
that the payment of such expense incurred by an Indemnitee in advance of the final disposition of such matter shall be made only
upon receipt of an undertaking by or on behalf of the Indemnitee to repay all amounts so advanced in the event that it shall ultimately
be determined that the Indemnitee is not entitled to be indemnified by the Corporation as authorized in this Article. Such undertaking
shall be accepted without reference to the financial ability of the Indemnitee to make such repayment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">6.&#9;<U>Procedure for Indemnification</U>.
In order to obtain indemnification or advancement of expenses pursuant to Section 1, 2, 3 or 5 of this Article, the Indemnitee
shall submit to the Corporation a written request, including in such request such documentation and information as is reasonably
available to the Indemnitee and is reasonably necessary to determine whether and to what extent the Indemnitee is entitled to indemnification
or advancement of expenses. Any such indemnification or advancement of expenses shall be made promptly, and in any event within
60 days after receipt by the Corporation of the written request of the Indemnitee, unless with respect to requests under Section
1, 2 or 5 the Corporation determines, by clear and convincing evidence, within such 60-day period that the Indemnitee did not meet
the applicable standard of conduct set forth in Section 1 or 2, as the case may be. Such determination shall be made in each instance
by (a) a majority vote of the directors of the Corporation consisting of persons who are not at that time parties to the action,
suit or proceeding in question (&ldquo;disinterested directors&rdquo;), even though less than a quorum, (b) a majority vote of
a quorum of the outstanding shares of stock of all classes entitled to vote for directors, voting as a single class, which quorum
shall consist of stockholders who are not at that time parties to the action, suit or proceeding in question, (c) independent legal
counsel (who may be regular legal counsel to the Corporation), or (d) a court of competent jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">7.&#9;<U>Remedies</U>. The right to indemnification
or advances as granted by this Article shall be enforceable by the Indemnitee in any court of competent jurisdiction if the Corporation
denies such request, in whole or in part, or if no disposition thereof is made within the 60-day period referred to above in Section
6. Unless otherwise provided by law, the burden of proving that the Indemnitee is not entitled to indemnification or advanced of
expenses under this Article shall be on the Corporation. Neither the failure of the Corporation to have made a determination prior
to the commencement of such action that indemnification is proper in the circumstances because the Indemnitee has met the applicable
standard of conduct, nor an actual determination by the Corporation pursuant to Section 6 that the Indemnitee has not met such
applicable standard of conduct, shall be a defense to the action or create a presumption that the Indemnitee has not met the applicable
standard of conduct. The Indemnitee&rsquo;s expenses (including attorneys&rsquo; fees) incurred in connection with successfully
establishing his right to indemnification, in whole or in part, in any such proceeding shall also be indemnified by the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">8.&#9;<U>Subsequent Amendment</U>. No amendment,
termination or repeal of this Article or of the relevant provisions of the General Corporation Law of Delaware or any other applicable
laws shall affect or diminish in any way the rights of any Indemnitee to indemnification under the provisions hereof with respect
to any action, suit, proceeding or investigation arising out of or relating to any actions, transactions or facts occurring prior
to the final adoption of such amendment, termination or repeal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">9.&#9;<U>Other Rights</U>. The indemnification
and advancement of expenses provided by this Article shall not be deemed exclusive of any other rights to which an Indemnitee seeking
indemnification or advancement of expenses may be entitled under any law (common or statutory), agreement or vote of stockholders
or disinterested directors or otherwise, both as to action in his official capacity and as to action in any other capacity while
holding office for the Corporation, and shall continue as to an Indemnitee who has ceased to be a director or officer, and shall
inure to the benefit of the estate, heirs, executors and administrators of the Indemnitee. Nothing contained in this Article shall
be deemed to prohibit, and the Corporation is specifically authorized to enter into, agreements with officers and directors providing
indemnification rights and procedures different from those set forth in this Article. In addition, the Corporation may, to the
extent authorized from time to time by its Board of Directors, grant indemnification rights to other employees or agents of the
Corporation or other persons serving the Corporation and such rights may be equivalent to, or greater or less than, those set forth
in this Article.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">10.&#9;<U>Partial Indemnification</U>. If
an Indemnitee is entitled under any provision of this Article to indemnification by the Corporation for some or a portion of the
expenses (including attorneys&rsquo; fees), judgments, fines or amounts paid in settlement actually and reasonably incurred by
him or on his behalf in connection with any action, suit, proceeding or investigation and any appeal, therefrom but not, however,
for the total amount thereof, the Corporation shall nevertheless indemnify the Indemnitee for the portion of such expenses (including
attorneys&rsquo; fees), judgments, fines or amounts paid in settlement to which the Indemnitee is entitled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">11.&#9;<U>Insurance</U>. The Corporation
may purchase and maintain insurance, at its expense, to protect itself and any director, officer, employee or agent of the Corporation
or another corporation, partnership, joint venture, trust or other enterprise (including any employee benefit plan) against any
expense, liability or loss incurred by him in any such capacity, or arising out of his status as such, whether or not the Corporation
would have the power to indemnify such person against such expense, liability or loss under the General Corporation law of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">12.&#9;<U>Merger or Consolidation</U>. If
the Corporation is merged into or consolidated with another corporation and the Corporation is not the surviving corporation, the
surviving corporation shall assume the obligations of the Corporation under this Article with respect to any action, suit, proceeding
or investigation arising out of or relating to any actions, transactions or facts occurring prior to the date of such merger or
consolidation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">13.&#9;<U>Savings Clause</U>. If this Article
or any portion hereof shall be invalidated on any ground by any court of competent jurisdiction, then the Corporation shall nevertheless
indemnify each Indemnitee as to any expenses (including attorneys&rsquo; fees) judgments, fines and amounts paid in settlement
in connection with any action, suit, proceeding or investigation, whether civil, criminal or administrative, including an action
by or in the right of the Corporation, to the fullest extent permitted by any applicable portion of this Article that shall not
have been invalidated and to the fullest extent permitted by applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">14.&#9;<U>Definitions</U>. Terms used herein
and defined in Section 145(h) and Section 145(i) of the General Corporation Law of Delaware shall have the respective meanings
assigned to such terms in such Section 145(h) and Section 145(i).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">15.&#9;<U>Subsequent Legislation</U>. If
the General Corporation Law of Delaware is amended after adoption of this Article to expand further the indemnification permitted
to Indemnitees, then the Corporation shall indemnify such persons to the fullest extent permitted by the General Corporation Law
of Delaware, as so amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">TENTH. The Corporation reserves the right
to amend, alter, change or repeal any provision contained in this Amended and Restated Certificate of Incorporation, in the manner
now or hereafter prescribed by statute and this Amended and Restated Certificate of Incorporation, and all rights conferred upon
stockholders herein are granted subject to this reservation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">ELEVENTH. This Article is inserted for the
management of the business and for the conduct of the affairs of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.&#9;<U>Number of Directors</U>. The number
of directors of the Corporation shall not be less than three. The exact number of directors within the limitations specified in
the preceding sentence shall be fixed from time to time by, or in the manner provided in, the Corporation&rsquo;s By-Laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&#9;<U>Classes of Directors</U>. The Board
of Directors shall be and is divided into three classes: Class I, Class II and Class III. No one class shall have more than one
director more than any other class. If a fraction is contained in the quotient arrived at by dividing the designated number of
directors by three, then, if such fraction is one-third, the extra director shall be a member of Class I, and if such fraction
is two-thirds, one of the extra directors shall be a member of Class I and one of the extra directors shall be a member of Class
II, unless otherwise provided from time to time by resolution adopted by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.&#9;<U>Election of Directors</U>. Elections
of directors need not be by written ballot except as and to the extent provided in the By-Laws of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">4.&#9;<U>Terms of Office</U>. Each director
shall serve for a term ending on the date of the third annual meeting following the annual meeting at which such director was elected;
provided, that each initial director in Class I shall serve for a term ending on the date of the annual meeting in 1996; each initial
director in Class II shall serve for a term ending on the date of the annual meeting in 1997; and each initial director in Class
III shall serve for a term ending on the date of the annual meeting in 1998; and provided further, that the term of each director
shall be subject to the election and qualification of his successor and to his earlier death, resignation or removal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">5.&#9;<U>Allocation of Directors Among Classes
in the Event of Increases or Decreases in the Number of Directors</U>. In the event of any increase or decrease in the authorized
number of directors, (i) each director then serving as such shall nevertheless continue as a director of the class of which he
is a member and (ii) the newly created or eliminated directorships resulting from such increase or decrease shall be apportioned
by the Board of Directors among the three classes of directors so as to ensure that no one class has more than one director more
than any other class. To the extent possible, consistent with the foregoing rule, any newly created directorships shall be added
to those classes whose terms of office are to expire at the latest dates following such allocation, and any newly eliminated directorships
shall be subtracted from those classes whose terms of offices are to expire at the earliest dates following such allocation, unless
otherwise provided from time to time by resolution adopted by the Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">6.&#9;<U>Quorum; Action at Meeting</U>.
A majority of the directors at any time in office shall constitute a quorum for the transaction of business. In the event one or
more of the directors shall be disqualified to vote at any meeting, then the required quorum shall be reduced by one for each director
so disqualified, provided that in no case shall less than one-third of the number of directors fixed pursuant to Section 1 above
constitute a quorum. If at any meeting of the Board of Directors there shall be less than such a quorum, a majority of those present
may adjourn the meeting from time to time. Every act or decision done or made by a majority of the directors present at a meeting
duly held at which a quorum is present shall be regarded as the act of the Board of Directors unless a greater number is required
by law, by the By-Laws of the Corporation or by this Amended and Restated Certificate of Incorporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">7.&#9;<U>Removal</U>. Directors of the Corporation
may be removed only for cause by the affirmative vote of the holders of at least two-thirds of the shares of the capital stock
of the Corporation issued and outstanding and entitled to vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">8.&#9;<U>Vacancies</U>. Any vacancy in the
Board of Directors, however occurring, including a vacancy resulting from an enlargement of the board, shall be filled only by
a vote of a majority of the directors then in office, although less than a quorum, or by a sole remaining director. A director
elected to fill a vacancy shall be elected to hold office until the next election of the class for which such director shall have
been chosen, subject to the election and qualification of his successor and to his earlier death, resignation or removal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">9.&#9;<U>Stockholder Nominations and Introduction
of Business, Etc</U>. Advance notice of stockholder nominations for election of directors and other business to be brought by stockholders
before a meeting of stockholders shall be given in the manner provided by the By-Laws of the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">10.&#9;<U>Amendments to Article</U>. Notwithstanding
any other provisions of law, this Amended and Restated Certificate of Incorporation or the By-Laws of the Corporation, and notwithstanding
the fact that a lesser percentage may be specified by law, the affirmative vote of the holders of at least seventy-five percent
(75%) of the shares of capital stock of the Corporation issued and outstanding and entitled to vote shall be required to amend
or repeal, or to adopt any provision inconsistent with, this Article ELEVENTH.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">TWELFTH. Stockholders of the Corporation
may not take any action by written consent in lieu of a meeting. Notwithstanding any other provisions of law, the Amended and Restated
Certificate of Incorporation or the By-Laws of the Corporation, and notwithstanding the fact that a lesser percentage may be specified
by law, the affirmative vote of the holders of at least seventy-five percent (75%) of the shares of capital stock of the Corporation
issued and outstanding and entitled to vote shall be required to amend or repeal, or to adopt any provision inconsistent with,
this Article TWELFTH.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">THIRTEENTH. Special meetings of stockholders
may be called at any time by only the Chief Executive Officer (or, if there is no Chief Executive Officer, the President) or by
the Board of Directors. Business transacted at any special meeting of stockholders shall be limited to matters relating to the
purpose or purposes stated in the notice of meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Notwithstanding any other provision of law,
this Amended and Restated Certificate of Incorporation or the Corporation&rsquo;s By-Laws, and notwithstanding the fact that a
lesser percentage may be specified by law, the affirmative vote of the holders of at least seventy-five percent (75%) of the shares
of capital stock of the Corporation issued and outstanding and entitled to vote shall be required to amend or repeal, or to adopt
any provision inconsistent with, this Article THIRTEENTH.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, the Corporation has
caused its corporate seal to be affixed hereto and this Amended and Restated Certificate of Incorporation to be signed by its Chairman
this 20th day of November, 1995.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 4in">NOVAVAX, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 4in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 4in">By: <U>/s/ EDWARD B. HAGER, M.D.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 4in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: 4in">Edward B. Hager, M.D.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: 4in">Chairman</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3in; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">CERTIFICATE
OF AMENDMENT<BR>
<BR>
to AMENDED AND RESTATED CERTIFICATE OF INCORPORATION<BR>
<BR>
of<BR>
<BR>
NOVAVAX, INC.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Pursuant to Section 242<BR>
of the General Corporation Law of the State of Delaware</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Novavax, Inc. (the &ldquo;Corporation&rdquo;),
a corporation organized and existing under and by virtue of the General Corporation Law of the State of Delaware, does hereby certify
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.&#9;That the Amended and Restated Certificate
of Incorporation of the Corporation is hereby amended by striking out the first sentence of Article FOURTH thereof and substituting
therefor the following sentence:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify; text-indent: 0in">&ldquo;The total number
of shares of all classes of stock which the Corporation shall have authority to issue is (i) fifty million (50,000,000) shares
of Common Stock, $.01 par value per share (&ldquo;Common Stock&rdquo;), and (ii) two million (2,000,000) shares of Preferred Stock,
$.01 par value per share (&ldquo;Preferred Stock&rdquo;), which may be issued from time to time in one or more series as set forth
in Part B of this Article FOURTH.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&#9;That said amendment has been duly
proposed and declared advisable by the Board of Directors of the Corporation and duly adopted by the holders of a majority of the
outstanding stock of each class of stock of the Corporation, all in accordance with the provisions of Section 242 of the General
Corporation Law of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The undersigned President of the Corporation
hereby makes this certificate, declaring and certifying that the facts stated herein are true, and accordingly has hereunto set
his hand this 18th day of December, 2000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 4in">NOVAVAX, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ATTEST:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 4in">&#9;By:&nbsp;&nbsp;&#9;<U>/s/ JOHN A. SPEARS</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 4in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;John A. Spears, President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 4in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 4in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>/s/ DAVID A. WHITE</U><BR>
David A. White, Secretary</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">CERTIFICATE
OF AMENDMENT<BR>
OF<BR>
AMENDED AND RESTATED CERTIFICATE OF INCORPORATION<BR>
OF NOVAVAX, INC.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Pursuant to Section 242<BR>
of the General Corporation Law of the State of Delaware)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Novavax, Inc. (the &ldquo;Corporation&rdquo;),
a corporation organized and existing under and by virtue of the General Corporation Law of the State of Delaware, does hereby certify
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">1.&#9;That at a meeting of the Board of
Directors of the Corporation, resolutions were adopted recommending an amendment of the Corporation&rsquo;s Amended and Restated
Certificate of Incorporation, declaring said amendment to be advisable and directing that such amendment be considered at the next
annual meeting of the stockholders of the Corporation. The text of the proposed amendment is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify; text-indent: 0in">Article FOURTH of the
Amended and Restated Certificate of Incorporation of the Corporation shall be amended by striking out the first sentence thereof
and substituting therefor the following sentence: &ldquo;The total number of shares of all classes of stock which the Corporation
shall have authority to issue is (i) one hundred million (100,000,000) shares of Common Stock, $.01 par value per share (&ldquo;Common
Stock&rdquo;), and (ii) two million (2,000,000) shares of Preferred Stock, $.01 par value per share (&ldquo;Preferred Stock&rdquo;),
which may be issued from time to time in one or more series as set forth in Part B of this Article FOURTH.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">2.&#9;That said amendment, having been duly
proposed and declared advisable by the Board of Directors of the Corporation, was considered by the stockholders of the Corporation
at the annual meeting of stockholders, duly called and held upon notice in accordance with Section 222 of the General Corporation
Law of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">3.&#9;That said amendment was duly adopted,
by the holders of a majority of the outstanding stock of each class of stock of the Corporation entitled to vote thereon, in accordance
with the provisions of Section 242 of the General Corporation Law of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The undersigned President of the Corporation
hereby makes this certificate, declaring and certifying that the facts stated herein are true, and accordingly has hereunto set
his hand this 8th day of July, 2004.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 4in">NOVAVAX, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 4in">By: <U>/s/ Nelson M. Sims</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 4in">&#9; &#9; &#9; &#9;Nelson M. Sims, President</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Attest:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><U>/s/ David A. White</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">David A. White, Secretary</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">CERTIFICATE
OF AMENDMENT<BR>
OF THE<BR>
AMENDED AND RESTATED CERTIFICATE OF INCORPORATION<BR>
OF<BR>
NOVAVAX, INC.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Pursuant to Section 242 of the<BR>
General Corporation Law of the State of Delaware)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Novavax, Inc. (the &ldquo;Corporation&rdquo;),
a corporation duly organized and validly existing under the General Corporation Law of the State of Delaware, hereby files this
Certificate of Amendment to the Amended and Restated Certificate of Incorporation of the Corporation and hereby certifies as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">A. At a meeting of the Board of Directors
of the Corporation on March 30, 2009, resolutions were duly adopted in accordance with Section 242 of the General Corporation Law
of the State of Delaware setting forth a proposed amendment to the Amended and Restated Certificate of Incorporation of the Corporation,
declaring said amendment to be advisable and calling a meeting of the stockholders of the Corporation for consideration thereof.
The resolution setting forth the proposed amendment is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">RESOLVED, that Article FOURTH of the Amended
and Restated Certificate of Incorporation of the Corporation be amended by striking out the first sentence thereof and substituting
the following sentence:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&ldquo;The total number of shares of all
classes of stock which the Corporation shall have authority to issue is (i) two hundred million (200,000,000) shares of Common
Stock, $.01 par value per share (&ldquo;Common Stock&rdquo;) and (ii) two million (2,000,000) shares of Preferred Stock, $.01 par
value per share (&ldquo;Preferred Stock&rdquo;), which may be issued from time to time in one or more series as set forth in Part
B of this Article FOURTH.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">B. The stockholders of the Corporation duly
approved the proposed amendment at an annual meeting of the stockholders of the Corporation in accordance with the provisions of
Section 242(b) of the General Corporation Law of the State of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, the Corporation has
caused this Certificate of Amendment to be duly executed this 13 day of May, 2009.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 4in">NOVAVAX, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 4in">By: <U>/s/ Rahul Singhvi</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 4in">Name:&#9;Rahul Singhvi</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 4in">Title:&#9;President
and CEO</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">CERTIFICATE
OF AMENDMENT<BR>
OF THE CERTIFICATE OF INCORPORATION<BR>
OF<BR>
NOVAVAX, INC.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">June 13, 2013</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Novavax, Inc. (the &ldquo;Corporation&rdquo;),
a corporation duly organized and existing under and by virtue of the General Corporation Law of the State of Delaware (the &ldquo;DGCL&rdquo;),
DOES HEREBY CERTIFY AS FOLLOWS:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">FIRST: That, by unanimous written consent
dated April 11, 2013, the board of directors of the Corporation duly adopted a resolution in accordance with Section 141 of the
DGCL setting forth a proposed amendment to the Amended and Restated Certificate of Incorporation of the Corporation, as amended
(the &ldquo;Certificate&rdquo;), declaring said amendment to be advisable and calling for the amendment to be submitted to the
stockholders of the Corporation for consideration at the next annual meeting of stockholders of the Corporation. The resolution
setting forth the proposed amendment is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">RESOLVED:</TD><TD STYLE="text-align: justify; padding-left: 5pt">That Article Four of the Charter therefore be amended
by deleting the first sentence thereof and replacing it with the following:</TD>
</TR></TABLE>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 1.25in; text-indent: 0"> &ldquo;The total number of shares of all classes of stock which the Corporation shall have authority to issue is (i) three hundred million (300,000,000) shares of Common Stock, $0.01 par value per share (&ldquo;Common Stock&rdquo;) and (ii) two million (2,000,000) shares of Preferred Stock, $0.01 par value per share (&ldquo;Preferred Stock&rdquo;), which may be issued from time to time in one or more series as set forth in Part B of this Article FOURTH.&rdquo;</P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">SECOND: That the remaining provisions of
the Certificate, including without limitation the provisions of ARTICLE FOURTH of the Certificate not affected by the aforementioned
amendment, shall remain in full force and not be affected by this Certificate of Amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">THIRD: That at the annual meeting of the
stockholders, duly called and held upon notice in accordance with Section 222 of the DGCL and in accordance with the Certificate,
the necessary number of shares as required by statute were voted in favor of the amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">FOURTH: That the aforesaid amendment was
duly adopted in accordance with the provisions of Section 242 of the DGCL.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, the Corporation has
caused this Certificate to be executed as of the date first set forth above.&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 4in">NOVAVAX, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 4in">By: <U>/s/ Stanley C. Erck&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 4in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stanley C. Erck</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.5in; text-indent: 4in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President and CEO</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>



<P STYLE="margin: 0; text-align: left">&nbsp;</P>

<P STYLE="margin: 0; text-align: left">&nbsp;</P>

<P STYLE="margin: 0; text-align: left"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.1
<SEQUENCE>3
<FILENAME>v350840_ex31-1.htm
<DESCRIPTION>EXHIBIT 31.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in"><B>Exhibit 31.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION OF CHIEF EXECUTIVE OFFICER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I, Stanley C. Erck, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1.&#9;I have reviewed this Quarterly Report
on Form 10-Q of Novavax, Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2.&#9;Based on my knowledge, this report
does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made,
in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this
report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">3.&#9;Based on my knowledge, the financial
statements, and other financial information included in this report, fairly present in all material respects the financial condition,
results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">4.&#9;The registrant&rsquo;s other certifying
officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules&nbsp;13a-15(e)
and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the
registrant and we have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">a)</TD><TD STYLE="text-align: justify">designed such disclosure controls and procedures, or caused such disclosure controls and procedures
to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated
subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being
prepared;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">b)</TD><TD STYLE="text-align: justify">designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">c)</TD><TD STYLE="text-align: justify">evaluated the effectiveness of the registrant&rsquo;s disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluations; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">d)</TD><TD STYLE="text-align: justify">disclosed in this report any change in the registrant&rsquo;s internal control over financial reporting
that occurred during the registrant&rsquo;s most recent fiscal quarter (the registrant&rsquo;s fourth fiscal quarter in the case
of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s internal
control over financial reporting; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">5.&#9;The registrant&rsquo;s other certifying
officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&rsquo;s
auditors and the audit committee of registrant&rsquo;s board of directors (or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">a)</TD><TD STYLE="text-align: justify">all significant deficiencies and material weaknesses
in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&rsquo;s
ability to record, process, summarize and report financial information; and</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">b)</TD><TD STYLE="text-align: justify">any fraud, whether or not material, that involves management
or other employees who have a significant role in the registrant&rsquo;s internal control over financial reporting.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD STYLE="vertical-align: top; width: 50%">August 8, 2013</TD>
    <TD STYLE="width: 4%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 28%; border-bottom: Black 1pt solid">/s/ Stanley C. Erck</TD>
    <TD STYLE="vertical-align: top; width: 18%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">President
and Chief Executive Officer &#9;and Director</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#9;(Principal Executive Officer)</P>
</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-31.2
<SEQUENCE>4
<FILENAME>v350840_ex31-2.htm
<DESCRIPTION>EXHIBIT 31.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 31.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION OF PRINCIPAL FINANCIAL
AND ACCOUNTING OFFICER</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">I, Barclay A. Phillips, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">1.&#9;I have reviewed this Quarterly Report
on Form 10-Q of Novavax, Inc.;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">2.&#9;Based on my knowledge, this report
does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made,
in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this
report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">3.&#9;Based on my knowledge, the financial
statements, and other financial information included in this report, fairly present in all material respects the financial condition,
results of operations and cash flows of the registrant as of, and for, the periods presented in this report;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">4.&#9;The registrant&rsquo;s other certifying
officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules&nbsp;13a-15(e)
and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the
registrant and we have:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">a)&#9;designed such disclosure
controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that
material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within
those entities, particularly during the period in which this report is being prepared;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">b)&#9;designed such internal
control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision,
to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for
external purposes in accordance with generally accepted accounting principles;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">c)&#9;evaluated the effectiveness
of the registrant&rsquo;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness
of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluations; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">d)&#9;disclosed in this report
any change in the registrant&rsquo;s internal control over financial reporting that occurred during the registrant&rsquo;s most
recent fiscal quarter (the registrant&rsquo;s fourth fiscal quarter in the case of an annual report) that has materially affected,
or is reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">5.&#9;The registrant&rsquo;s other certifying
officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&rsquo;s
auditors and the audit committee of registrant&rsquo;s board of directors (or persons performing the equivalent functions):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">a)&#9;all significant deficiencies
and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to
adversely affect the registrant&rsquo;s ability to record, process, summarize and report financial information; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">b)&#9;any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&rsquo;s
internal control over financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; width: 52%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">August 8, 2013</FONT></TD>
    <TD STYLE="width: 3%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 28%; border-bottom: black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Barclay A. Phillips</FONT></TD>
    <TD STYLE="vertical-align: top; width: 17%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Senior Vice President, Chief Financial </FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">Officer and Treasurer</FONT><BR>
<FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Principal Financial and Accounting Officer)</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.1
<SEQUENCE>5
<FILENAME>v350840_ex32-1.htm
<DESCRIPTION>EXHIBIT 32.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 32.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION OF CHIEF EXECUTIVE OFFICER
PURSUANT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TO 18 UNITED STATES C. &sect;1350<BR>
(SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
the Quarterly Report of Novavax, Inc. (the &ldquo;Company&rdquo;) on Form 10-Q for the fiscal period ended June 30, 2013 as filed
with the Securities and Exchange Commission on the date hereof (the &ldquo;Report&rdquo;), I, Stanley C. Erck, President and Chief
Executive Officer of the Company, hereby certify, pursuant to 18 U.S.C. &sect;1350, as adopted pursuant to Section&nbsp;906 of
the Sarbanes-Oxley Act of 2002, to the best of my knowledge, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">1)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">2)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The information contained in the Report fairly presents, in all material respects, the financial condition and results of
operations of the Company for the dates and periods covered by this Report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">August 8, 2013</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">By:&nbsp; <U>/s/ Stanley C. Erck</U></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">President and Chief Executive Officer &#9;and Director</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-32.2
<SEQUENCE>6
<FILENAME>v350840_ex32-2.htm
<DESCRIPTION>EXHIBIT 32.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 32.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CERTIFICATION OF PRINCIPAL FINANCIAL
AND ACCOUNTING OFFICER PURSUANT TO 18 UNITED STATES C. &sect;1350<BR>
(SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with
the Quarterly Report of Novavax, Inc. (the &ldquo;Company&rdquo;) on Form 10-Q for the fiscal period ended June 30, 2013 as filed
with the Securities and Exchange Commission on the date hereof (the &ldquo;Report&rdquo;), I, Barclay A. Phillips, Senior Vice
President, Chief Financial Officer and Treasurer, hereby certify, pursuant to 18 U.S.C. &sect;1350, as adopted pursuant to Section&nbsp;906
of the Sarbanes-Oxley Act of 2002, to the best of my knowledge, that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">1)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended;
and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">2)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The information contained in the Report fairly presents, in all material respects, the financial condition and results
of operations of the Company for the dates and periods covered by this Report.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">August 8, 2013</FONT></TD>
    <TD STYLE="font-size: 10pt; width: 50%"><FONT STYLE="font-size: 10pt">By:&nbsp; <U>/s/ Barclay A. Phillips</U></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-size: 10pt">Senior Vice President, Chief Financial Officer and Treasurer</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<TYPE>EX-101.INS
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  <dei:TradingSymbol id="TradingSymbol.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">NVAX</dei:TradingSymbol>
  <nvax:AcquisitionOfIsconovaAbTextBlock id="AcquisitionOfIsconovaAbTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Note 13 - Acquisition of Isconova AB&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &lt;font style="COLOR: windowtext"&gt;On July 31, 2013, the Company announced that, pursuant to its public tender offer to acquire all outstanding shares and warrants of Sweden-based Isconova AB ("Isconova") directly from such holders and a private offer for all outstanding stock options, it had acquired: 97.4% of the outstanding Isconova shares for approximately 15.1 million shares of Novavax Common Stock; 100% of the outstanding 2005-I warrants and 2005-II warrants for SEK 140,285 (or approximately $22,000 based on current exchange rate); and 100% of the stock options, for which it will issue 218,120 shares of Novavax Common Stock. The Company initiated the public tender offer on July 9, 2013 and expects to settle these transactions in August 2013.&lt;/font&gt; In addition, the Company has extended the tender acceptance period until August 20, 2013 in order to attempt to acquire the remaining 2.6% of the outstanding Isconova shares.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Isconova has focused its recent efforts on the development of saponin-based, immune-modulating adjuvants that work with different types of vaccine antigens to enhance the immunogenic effect of the antigen. A number of vaccines are under development by various vaccine companies, as well as by Isconova, using Isconova&amp;#39;s third generation nanoparticle adjuvant, Matrix-M&amp;trade;. The Company believes that Isconova&amp;#39;s adjuvants will be powerful complements to its recombinant vaccine programs as three of its clinical-stage programs and many of its pre-clinical programs are currently testing adjuvants to see whether immune responses can be enhanced.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</nvax:AcquisitionOfIsconovaAbTextBlock>
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  <nvax:DepositsForAcquisitionOfPropertyAndEquipment id="DepositsForAcquisitionOfPropertyAndEquipment.521.0.0.0.0.0.0" xsi:nil="true" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <nvax:DepositsForAcquisitionOfPropertyAndEquipment id="DepositsForAcquisitionOfPropertyAndEquipment.525.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">500000</nvax:DepositsForAcquisitionOfPropertyAndEquipment>
  <nvax:JointVenturePercentageOwnedByOthers id="JointVenturePercentageOwnedByOthers.522.23927.4820.0.0.0.0" contextRef="as-of-2013-06-30.522.0.23927.4820.0.0.0.0" unitRef="pure" decimals="1">0.8</nvax:JointVenturePercentageOwnedByOthers>
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  <nvax:LoanAgreementFutureMinimumPaymentsRemainderOfFiscalYear id="LoanAgreementFutureMinimumPaymentsRemainderOfFiscalYear.522.0.0.0.0.0.0" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">286000</nvax:LoanAgreementFutureMinimumPaymentsRemainderOfFiscalYear>
  <nvax:NewFacilityLeaseDisclosureTextBlock id="NewFacilityLeaseDisclosureTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in; font-size-adjust: none; font-stretch: normal"&gt; Note 12 - Manufacturing, Laboratory and Office Facility&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; The Company leases its new manufacturing, laboratory and office space in Gaithersburg, Maryland with rent payments for such space to the landlord commencing April 1, 2014. Under the terms of one lease agreement, the landlord provided the Company with a tenant improvement allowance of $2.5 million and an additional tenant improvement allowance of $3 million, such additional tenant improvement allowance is to be paid back to the landlord during the remainder of the term of such lease agreement through additional rent payments (collectively, the "Improvement Allowance"). The Company has been funded $0.7 million in the six months ended June 30, 2013, and has been funded $5.0 million in total under the Improvement Allowance. The Improvement Allowance is being amortized on a straight-line basis over the remaining term of the lease.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</nvax:NewFacilityLeaseDisclosureTextBlock>
  <nvax:NovavaxSharesIssued id="NovavaxSharesIssued.1638.0.0.0.0.0.0" contextRef="from-2013-07-01-to-2013-07-31.1638.0.0.0.0.0.0.0" unitRef="shares" decimals="0">15100000</nvax:NovavaxSharesIssued>
  <nvax:OperationsDisclosureTextBlock id="OperationsDisclosureTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in; font-size-adjust: none; font-stretch: normal"&gt; Note 2 - Operations&lt;/p&gt; &lt;p style="FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; The Company&amp;#39;s vaccine candidates currently under development will require significant additional research and development efforts that include extensive pre-clinical and clinical testing, and regulatory approval prior to commercial use. The Company&amp;#39;s research and development efforts may not be successful and any potential vaccine candidates may not prove to be safe and effective during clinical development. Even if developed, these vaccine candidates may not receive regulatory approval or be successfully introduced and marketed at prices that would permit the Company to operate profitably. The commercial launch of any vaccine is subject to significant risks including, but not limited to, manufacturing scale-up and market acceptance.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; As a clinical-stage biopharmaceutical company, the Company has primarily funded its operations from proceeds through the sale of its common stock in equity offerings and under its At Market Issuance Sales Agreements and revenue under its contract with the Department of Health and Human Services, Biomedical Advanced Research and Development Authority ("HHS BARDA"). Management regularly reviews the Company&amp;#39;s cash and cash equivalents and investments against its operating budget to ensure the Company will have sufficient working capital, and will continue to draw upon such available sources of capital to meet its operating needs.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</nvax:OperationsDisclosureTextBlock>
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  <nvax:ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses id="ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses.525.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">400000</nvax:ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses>
  <nvax:ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses id="ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses.1391.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-03-31.1391.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">200000</nvax:ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses>
  <nvax:ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses id="ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses.1392.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-03-31.1392.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">100000</nvax:ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses>
  <nvax:ResearchAndDevelopmentCollaboration id="ResearchAndDevelopmentCollaboration.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">648000</nvax:ResearchAndDevelopmentCollaboration>
  <nvax:ResearchAndDevelopmentCollaboration id="ResearchAndDevelopmentCollaboration.524.0.0.0.0.0.0" contextRef="from-2013-04-01-to-2013-06-30.524.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">255000</nvax:ResearchAndDevelopmentCollaboration>
  <nvax:ResearchAndDevelopmentCollaboration id="ResearchAndDevelopmentCollaboration.525.0.0.0.0.0.0" xsi:nil="true" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <nvax:ResearchAndDevelopmentCollaboration id="ResearchAndDevelopmentCollaboration.526.0.0.0.0.0.0" xsi:nil="true" contextRef="from-2012-04-01-to-2012-06-30.526.0.0.0.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <nvax:ResearchAndDevelopmentCollaboration id="ResearchAndDevelopmentCollaboration.521.23945.5386.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.23945.5386.0.0.0.0" unitRef="USD" decimals="-3">600000</nvax:ResearchAndDevelopmentCollaboration>
  <nvax:ResearchAndDevelopmentCollaboration id="ResearchAndDevelopmentCollaboration.1415.23945.5386.0.0.0.0" contextRef="from-2012-07-01-to-2013-06-30.1415.0.23945.5386.0.0.0.0" unitRef="USD" decimals="-3">1900000</nvax:ResearchAndDevelopmentCollaboration>
  <nvax:ResearchAndDevelopmentCollaboration id="ResearchAndDevelopmentCollaboration.1678.23945.5386.0.0.0.0" contextRef="from-2012-07-01-to-2012-07-31.1678.0.23945.5386.0.0.0.0" unitRef="USD" decimals="-3">2000000</nvax:ResearchAndDevelopmentCollaboration>
  <nvax:ResearchAndDevelopmentCollaborationIncrease id="ResearchAndDevelopmentCollaborationIncrease.1679.23945.5386.0.0.0.0" contextRef="as-of-2013-08-08.1679.0.23945.5386.0.0.0.0" unitRef="USD" decimals="-3">300000</nvax:ResearchAndDevelopmentCollaborationIncrease>
  <nvax:SaleOfCommonStockDisclosureTextBlock id="SaleOfCommonStockDisclosureTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in"&gt; Note 11 - Sales of Common Stock&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; In October 2012, the Company entered into an At Market Issuance Sales Agreement ("2012 Sales Agreement"), under which the Board of Directors of the Company (the "Board") approved the Company&amp;#39;s sale of up to an aggregate of $50 million in gross proceeds of its common stock. The shares of common stock are being offered pursuant to a shelf registration statement filed with the SEC in March 2013, which replaced the previous shelf registration statement filed in 2010. The Board has appointed a standing Finance Committee (the "Committee") to assist with its responsibilities to monitor, provide advice to senior management of the Company and approve all capital raising activities. The Committee has been authorized by the Board, absent any action by the Board to the contrary, to take any additional actions necessary to carry out the Board&amp;#39;s authorization of the issuance and sale of the common stock sold pursuant to the 2012 Sales Agreement. In doing so, the Committee is authorized to set the amount of shares to be sold, the period of time during which such sales may occur and the minimum sales price per share. During the six months ended June 30, 2013, the Company sold 4.6 million shares at sales prices ranging from of $2.06 &amp;#9472; $2.63 per share, resulting in $10.0 million in net proceeds. The most recent sales to occur under the 2012 Sales Agreement were on May 6, 2013.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</nvax:SaleOfCommonStockDisclosureTextBlock>
  <nvax:ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock id="ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The following is a summary of restricted stock awards activity for the six months ended June 30, 2013:&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 85%" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 3.8pt"&gt; &lt;strong&gt;Number of&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 3.8pt"&gt; &lt;strong&gt;Shares&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 5.25pt"&gt; &lt;strong&gt;Per Share&lt;/strong&gt;&lt;br /&gt; &lt;strong&gt;Weighted-&lt;/strong&gt;&lt;br /&gt; &lt;strong&gt;Average&lt;/strong&gt;&lt;br /&gt; &lt;strong&gt;Grant-Date&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 5.25pt"&gt; &lt;strong&gt;Fair Value&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; WIDTH: 68%"&gt;Outstanding at January 1, 2013&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 13%"&gt;33,334&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 13%"&gt;1.39&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Restricted stock granted&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Restricted stock vested&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Restricted stock forfeited&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;Outstanding at June 30, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 33,334&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 1.39&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</nvax:ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock>
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  <us-gaap:Assets id="Assets.522.0.0.0.0.0.0" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">92918000</us-gaap:Assets>
  <us-gaap:Assets id="Assets.523.0.0.0.0.0.0" contextRef="as-of-2012-12-31.523.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">102345000</us-gaap:Assets>
  <us-gaap:AssetsCurrent id="AssetsCurrent.522.0.0.0.0.0.0" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">45365000</us-gaap:AssetsCurrent>
  <us-gaap:AssetsCurrent id="AssetsCurrent.523.0.0.0.0.0.0" contextRef="as-of-2012-12-31.523.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">50408000</us-gaap:AssetsCurrent>
  <us-gaap:AvailableForSaleSecurities id="AvailableForSaleSecurities.522.1234.3313.0.0.0.0" contextRef="as-of-2013-06-30.522.0.1234.3313.0.0.0.0" unitRef="USD" decimals="-3">36215000</us-gaap:AvailableForSaleSecurities>
  <us-gaap:AvailableForSaleSecurities id="AvailableForSaleSecurities.523.1234.3313.0.0.0.0" contextRef="as-of-2012-12-31.523.0.1234.3313.0.0.0.0" unitRef="USD" decimals="-3">31361000</us-gaap:AvailableForSaleSecurities>
  <us-gaap:AvailableForSaleSecurities id="AvailableForSaleSecurities.522.646.3313.0.0.0.0" contextRef="as-of-2013-06-30.522.0.646.3313.0.0.0.0" unitRef="USD" decimals="-3">1810000</us-gaap:AvailableForSaleSecurities>
  <us-gaap:AvailableForSaleSecurities id="AvailableForSaleSecurities.523.646.3313.0.0.0.0" contextRef="as-of-2012-12-31.523.0.646.3313.0.0.0.0" unitRef="USD" decimals="-3">1584000</us-gaap:AvailableForSaleSecurities>
  <us-gaap:AvailableForSaleSecurities id="AvailableForSaleSecurities.522.0.0.0.0.0.0" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">38025000</us-gaap:AvailableForSaleSecurities>
  <us-gaap:AvailableForSaleSecurities id="AvailableForSaleSecurities.523.0.0.0.0.0.0" contextRef="as-of-2012-12-31.523.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">32945000</us-gaap:AvailableForSaleSecurities>
  <us-gaap:AvailableForSaleSecurities id="AvailableForSaleSecurities.522.2138.1998.0.0.0.0" xsi:nil="true" contextRef="as-of-2013-06-30.522.0.2138.1998.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:AvailableForSaleSecurities id="AvailableForSaleSecurities.523.2138.1998.0.0.0.0" xsi:nil="true" contextRef="as-of-2012-12-31.523.0.2138.1998.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:AvailableForSaleSecurities id="AvailableForSaleSecurities.522.2139.1998.0.0.0.0" contextRef="as-of-2013-06-30.522.0.2139.1998.0.0.0.0" unitRef="USD" decimals="-3">38025000</us-gaap:AvailableForSaleSecurities>
  <us-gaap:AvailableForSaleSecurities id="AvailableForSaleSecurities.523.2139.1998.0.0.0.0" contextRef="as-of-2012-12-31.523.0.2139.1998.0.0.0.0" unitRef="USD" decimals="-3">32945000</us-gaap:AvailableForSaleSecurities>
  <us-gaap:AvailableForSaleSecurities id="AvailableForSaleSecurities.522.2129.1998.0.0.0.0" xsi:nil="true" contextRef="as-of-2013-06-30.522.0.2129.1998.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:AvailableForSaleSecurities id="AvailableForSaleSecurities.523.2129.1998.0.0.0.0" xsi:nil="true" contextRef="as-of-2012-12-31.523.0.2129.1998.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:AvailableForSaleSecuritiesAmortizedCost id="AvailableForSaleSecuritiesAmortizedCost.522.1234.3313.0.0.0.0" contextRef="as-of-2013-06-30.522.0.1234.3313.0.0.0.0" unitRef="USD" decimals="-3">36213000</us-gaap:AvailableForSaleSecuritiesAmortizedCost>
  <us-gaap:AvailableForSaleSecuritiesAmortizedCost id="AvailableForSaleSecuritiesAmortizedCost.523.1234.3313.0.0.0.0" contextRef="as-of-2012-12-31.523.0.1234.3313.0.0.0.0" unitRef="USD" decimals="-3">31340000</us-gaap:AvailableForSaleSecuritiesAmortizedCost>
  <us-gaap:AvailableForSaleSecuritiesAmortizedCost id="AvailableForSaleSecuritiesAmortizedCost.522.646.3313.0.0.0.0" contextRef="as-of-2013-06-30.522.0.646.3313.0.0.0.0" unitRef="USD" decimals="-3">1175000</us-gaap:AvailableForSaleSecuritiesAmortizedCost>
  <us-gaap:AvailableForSaleSecuritiesAmortizedCost id="AvailableForSaleSecuritiesAmortizedCost.523.646.3313.0.0.0.0" contextRef="as-of-2012-12-31.523.0.646.3313.0.0.0.0" unitRef="USD" decimals="-3">1175000</us-gaap:AvailableForSaleSecuritiesAmortizedCost>
  <us-gaap:AvailableForSaleSecuritiesAmortizedCost id="AvailableForSaleSecuritiesAmortizedCost.522.0.0.0.0.0.0" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">37388000</us-gaap:AvailableForSaleSecuritiesAmortizedCost>
  <us-gaap:AvailableForSaleSecuritiesAmortizedCost id="AvailableForSaleSecuritiesAmortizedCost.523.0.0.0.0.0.0" contextRef="as-of-2012-12-31.523.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">32515000</us-gaap:AvailableForSaleSecuritiesAmortizedCost>
  <us-gaap:AvailableForSaleSecuritiesCurrent id="AvailableForSaleSecuritiesCurrent.522.0.0.0.0.0.0" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">38025000</us-gaap:AvailableForSaleSecuritiesCurrent>
  <us-gaap:AvailableForSaleSecuritiesCurrent id="AvailableForSaleSecuritiesCurrent.523.0.0.0.0.0.0" contextRef="as-of-2012-12-31.523.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">26712000</us-gaap:AvailableForSaleSecuritiesCurrent>
  <us-gaap:AvailableForSaleSecuritiesGrossUnrealizedGains id="AvailableForSaleSecuritiesGrossUnrealizedGains.521.1234.3313.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.1234.3313.0.0.0.0" unitRef="USD" decimals="-3">2000</us-gaap:AvailableForSaleSecuritiesGrossUnrealizedGains>
  <us-gaap:AvailableForSaleSecuritiesGrossUnrealizedGains id="AvailableForSaleSecuritiesGrossUnrealizedGains.538.1234.3313.0.0.0.0" contextRef="from-2012-01-01-to-2012-12-31.538.0.1234.3313.0.0.0.0" unitRef="USD" decimals="-3">21000</us-gaap:AvailableForSaleSecuritiesGrossUnrealizedGains>
  <us-gaap:AvailableForSaleSecuritiesGrossUnrealizedGains id="AvailableForSaleSecuritiesGrossUnrealizedGains.521.646.3313.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.646.3313.0.0.0.0" unitRef="USD" decimals="-3">635000</us-gaap:AvailableForSaleSecuritiesGrossUnrealizedGains>
  <us-gaap:AvailableForSaleSecuritiesGrossUnrealizedGains id="AvailableForSaleSecuritiesGrossUnrealizedGains.538.646.3313.0.0.0.0" contextRef="from-2012-01-01-to-2012-12-31.538.0.646.3313.0.0.0.0" unitRef="USD" decimals="-3">409000</us-gaap:AvailableForSaleSecuritiesGrossUnrealizedGains>
  <us-gaap:AvailableForSaleSecuritiesGrossUnrealizedGains id="AvailableForSaleSecuritiesGrossUnrealizedGains.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">637000</us-gaap:AvailableForSaleSecuritiesGrossUnrealizedGains>
  <us-gaap:AvailableForSaleSecuritiesGrossUnrealizedGains id="AvailableForSaleSecuritiesGrossUnrealizedGains.538.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-12-31.538.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">430000</us-gaap:AvailableForSaleSecuritiesGrossUnrealizedGains>
  <us-gaap:AvailableForSaleSecuritiesGrossUnrealizedLoss id="AvailableForSaleSecuritiesGrossUnrealizedLoss.521.1234.3313.0.0.0.0" xsi:nil="true" contextRef="from-2013-01-01-to-2013-06-30.521.0.1234.3313.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:AvailableForSaleSecuritiesGrossUnrealizedLoss id="AvailableForSaleSecuritiesGrossUnrealizedLoss.538.1234.3313.0.0.0.0" xsi:nil="true" contextRef="from-2012-01-01-to-2012-12-31.538.0.1234.3313.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:AvailableForSaleSecuritiesGrossUnrealizedLoss id="AvailableForSaleSecuritiesGrossUnrealizedLoss.521.646.3313.0.0.0.0" xsi:nil="true" contextRef="from-2013-01-01-to-2013-06-30.521.0.646.3313.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:AvailableForSaleSecuritiesGrossUnrealizedLoss id="AvailableForSaleSecuritiesGrossUnrealizedLoss.538.646.3313.0.0.0.0" xsi:nil="true" contextRef="from-2012-01-01-to-2012-12-31.538.0.646.3313.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:AvailableForSaleSecuritiesGrossUnrealizedLoss id="AvailableForSaleSecuritiesGrossUnrealizedLoss.521.0.0.0.0.0.0" xsi:nil="true" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:AvailableForSaleSecuritiesGrossUnrealizedLoss id="AvailableForSaleSecuritiesGrossUnrealizedLoss.538.0.0.0.0.0.0" xsi:nil="true" contextRef="from-2012-01-01-to-2012-12-31.538.0.0.0.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:AvailableForSaleSecuritiesNoncurrent id="AvailableForSaleSecuritiesNoncurrent.522.0.0.0.0.0.0" xsi:nil="true" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:AvailableForSaleSecuritiesNoncurrent id="AvailableForSaleSecuritiesNoncurrent.523.0.0.0.0.0.0" contextRef="as-of-2012-12-31.523.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">6233000</us-gaap:AvailableForSaleSecuritiesNoncurrent>
  <us-gaap:AvailableForSaleSecuritiesTextBlock id="AvailableForSaleSecuritiesTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; Investments classified as available-for-sale as of June 30, 2013 and December 31, 2012 were comprised of (in thousands):&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="6"&gt;&lt;strong&gt;June 30, 2013&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="6"&gt;December 31, 2012&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;Amortized&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;Cost&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"&gt;&lt;strong&gt;Gross Unrealized Gains&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"&gt;&lt;strong&gt;Gross Unrealized Losses&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2"&gt;Fair Value&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;Amortized&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;Cost&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"&gt;&lt;strong&gt;Gross Unrealized Gains&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"&gt;&lt;strong&gt;Gross Unrealized Losses&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2"&gt;Fair Value&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 10%; TEXT-INDENT: 0px"&gt; Auction rate securities&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 1,175&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 635&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 1,810&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 1,175&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 409&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 1,584&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; Corporate debt securities&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; 36,213&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 2&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 36,215&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; 31,340&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 21&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 31,361&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; Total&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 37,388&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 637&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 38,025&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 32,515&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 430&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 32,945&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:AvailableForSaleSecuritiesTextBlock>
  <us-gaap:BasisOfAccountingPolicyPolicyTextBlock id="BasisOfAccountingPolicyPolicyTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &lt;strong&gt;&lt;em&gt;Basis of Presentation&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. The balance sheet as of June 30, 2013, statements of operations and statements of comprehensive loss for the three and six months ended June 30, 2013 and 2012 and the statements of cash flows for the six months ended June 30, 2013 and 2012 are unaudited, but include all adjustments (consisting of normal recurring adjustments) that the Company considers necessary for a fair presentation of the financial position, operating results, comprehensive loss and cash flows, respectively, for the periods presented. Although the Company believes that the disclosures in these financial statements are adequate to make the information presented not misleading, certain information and footnote information normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the United States Securities and Exchange Commission ("SEC").&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Results for any interim period are not necessarily indicative of results for any future interim period or for the entire year. The accompanying unaudited financial statements should be read in conjunction with the financial statements and notes thereto included in the Company&amp;#39;s Annual Report on Form 10-K for the year ended December 31, 2012.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:BasisOfAccountingPolicyPolicyTextBlock>
  <us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock id="BasisOfPresentationAndSignificantAccountingPoliciesTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in"&gt; Note 3 - Summary of Significant Accounting Policies&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &lt;strong&gt;&lt;em&gt;Basis of Presentation&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. The balance sheet as of June 30, 2013, statements of operations and statements of comprehensive loss for the three and six months ended June 30, 2013 and 2012 and the statements of cash flows for the six months ended June 30, 2013 and 2012 are unaudited, but include all adjustments (consisting of normal recurring adjustments) that the Company considers necessary for a fair presentation of the financial position, operating results, comprehensive loss and cash flows, respectively, for the periods presented. Although the Company believes that the disclosures in these financial statements are adequate to make the information presented not misleading, certain information and footnote information normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the United States Securities and Exchange Commission ("SEC").&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Results for any interim period are not necessarily indicative of results for any future interim period or for the entire year. The accompanying unaudited financial statements should be read in conjunction with the financial statements and notes thereto included in the Company&amp;#39;s Annual Report on Form 10-K for the year ended December 31, 2012.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &lt;strong&gt;&lt;em&gt;Use of Estimates&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The preparation of the financial statements in conformity with U.S. GAAP 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 financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from these estimates.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &lt;strong&gt;&lt;em&gt;Fair Value Measurements&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The Company applies Accounting Standards Codification ("ASC") Topic 820, &lt;em&gt;Fair Value Measurements and Disclosures&lt;/em&gt;, for financial and non-financial assets and liabilities.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; ASC 820 discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow) and the cost approach (cost to replace the service capacity of an asset or replacement cost). The statement utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 0.25in"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 0.25in"&gt;&amp;middot;&lt;/td&gt; &lt;td style="TEXT-ALIGN: justify"&gt;Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 0.25in"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 0.25in"&gt;&amp;middot;&lt;/td&gt; &lt;td style="TEXT-ALIGN: justify"&gt;Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 0.25in"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 0.25in"&gt;&amp;middot;&lt;/td&gt; &lt;td style="TEXT-ALIGN: justify"&gt;Level 3: Unobservable inputs that reflect the reporting entity&amp;#39;s own assumptions.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; Investments&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Investments consist of commercial paper, corporate notes and an investment in one auction rate security. Classification of marketable securities between current and non-current is dependent upon the original maturity date at purchase. Those securities purchased with original maturities greater than 90 days, but less than one year are classified as current and those with greater than one year are classified as non-current.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Interest and dividend income is recorded when earned and included in interest income. Premiums and discounts, if any, on investments are amortized or accreted to maturity and included in interest income. The specific identification method is used in computing realized gains and losses on the sale of the Company&amp;#39;s securities.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The Company has classified its investments as available-for-sale since the Company may need to liquidate these securities within the next year. The available-for-sale securities are carried at fair value and unrealized gains and losses on these securities, if determined to be temporary, are included in accumulated other comprehensive income (loss) in stockholders&amp;#39; equity. Investments are evaluated periodically to determine whether a decline in value is "other-than-temporary." The term "other-than-temporary" is not intended to indicate a permanent decline in value. Rather, it means that the prospects for a near term recovery of value are not necessarily favorable, or that there is a lack of evidence to support fair values equal to, or greater than, the carrying value of the security. Management reviews criteria, such as the magnitude and duration of the decline, as well as the Company&amp;#39;s ability to hold the securities until market recovery, to predict whether the loss in value is other-than-temporary. If a decline in value is determined to be other-than-temporary, the value of the security is reduced and the impairment is recorded in the statement of operations.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; Restricted Cash&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The Company&amp;#39;s restricted cash includes payments received under the PATH agreement (See Note 8) until such time as the Company has paid for the work performed for the related Phase 2 RSV clinical trial. In addition, the Company&amp;#39;s non-current restricted cash with respect to its new manufacturing, laboratory and office space in Gaithersburg, Maryland functions as collateral for letters of credit, which serve as security deposits for the duration of the leases.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &lt;strong&gt;&lt;em&gt;Net Loss per Share&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Net loss per share is computed using the weighted average number of shares of common stock outstanding. All outstanding warrants, stock options and unvested restricted stock awards totaling 15,832,208 shares and 13,110,708 shares at June 30, 2013 and 2012, respectively, are excluded from the computation, as their effect is antidilutive.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.25in"&gt; &lt;strong&gt;&lt;em&gt;Reclassifications&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Within the June 30, 2012 statement of operations, certain overhead expenses relating to supply chain management of $0.4 million have been reclassified from general and administrative expenses to research and development expenses. Also, within the June 30, 2012 statement of cash flows, additional lease incentives received of $1.1 million recorded in the change in accounts payable and accrued expenses have been reclassified and are included in the change in lease incentives received. All of these reclassifications have been made to conform to current year presentation. In its Quarterly Report on Form 10-Q for the period ended March 31, 2013, the Company had recorded $0.2 million and reclassified $0.1 million of patent costs from general and administrative expenses to research and development expenses for the three months ended March 31, 2013 and 2012, respectively. The Company subsequently determined that patent costs should remain as a general and administrative expense and these costs have been shown as a general and administrative expense for all periods presented herein.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock>
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  <us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy id="CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; Restricted Cash&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The Company&amp;#39;s restricted cash includes payments received under the PATH agreement (See Note 8) until such time as the Company has paid for the work performed for the related Phase 2 RSV clinical trial. In addition, the Company&amp;#39;s non-current restricted cash with respect to its new manufacturing, laboratory and office space in Gaithersburg, Maryland functions as collateral for letters of credit, which serve as security deposits for the duration of the leases.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy>
  <us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights id="ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights.534.0.0.0.0.0.0" contextRef="as-of-2008-07-31.534.0.0.0.0.0.0.0" unitRef="USD_per_Warrant" decimals="2">3.62</us-gaap:ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights>
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  <us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights id="ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights.534.0.0.0.0.0.0" contextRef="as-of-2008-07-31.534.0.0.0.0.0.0.0" unitRef="shares" decimals="0">3343325</us-gaap:ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights>
  <us-gaap:CollaborativeArrangementDisclosureTextBlock id="CollaborativeArrangementDisclosureTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in"&gt; Note 8 - U.S. Government Agreement, Joint Venture and Collaborations&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0in"&gt; &lt;strong&gt;&lt;em&gt;&amp;nbsp;&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0in"&gt; &lt;strong&gt;&lt;em&gt;HHS BARDA Contract for Recombinant Influenza Vaccines&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; In February 2011, the Company was awarded a contract from HHS BARDA valued at $97 million for the first three-year base-period, with an HHS BARDA option for an additional two-year period valued at $82 million, for a total contract value of up to $179 million. The HHS BARDA contract award provides significant funding for the Company&amp;#39;s ongoing clinical development and product scale-up of both its seasonal and pandemic (H5N1) influenza vaccine candidates. This is a cost-plus-fixed-fee contract in which HHS BARDA will reimburse the Company for allowable direct contract costs incurred plus allowable indirect costs and a fixed-fee earned in the further development of its multivalent seasonal and monovalent pandemic (H5N1) influenza vaccines. Billings under the contract are based on approved provisional indirect billing rates, which permit recovery of fringe benefits, overhead and general and administrative expenses not exceeding certain limits. These indirect rates are subject to audit by HHS BARDA on an annual basis. An audit by the government of fiscal year 2011 has been initiated, but has not been completed as of the date of this filing. When the final determination of the allowable costs for any year has been made, revenue and billings may be adjusted accordingly; however, management believes that revenue for periods subject to audit has been recorded in amounts that are expected to be realized upon final audit and settlement. The Company recognized revenue of approximately $6.5 million in the six months ended June 30, 2013, and has recognized approximately $41 million in revenue since the inception of the contract.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Under certain circumstances, HHS BARDA reimbursements may be delayed or even potentially withheld. In March 2012, the Company decided to conduct a Phase 2 clinical trial of its quadrivalent seasonal influenza vaccine candidate ("205 Trial") under its existing U.S. investigational new drug application ("IND") for its trivalent seasonal influenza vaccine candidate as opposed to waiting to conduct this clinical trial under a new IND for its quadrivalent vaccine candidate ("Quadrivalent IND"). Based on the Company&amp;#39;s discussions with HHS BARDA in 2012, the outside clinical trial costs for the 205 Trial may only be submitted for reimbursement to HHS BARDA and recorded as revenue by the Company after it submits the clinical trial data in a future Quadrivalent IND. The submission of the Quadrivalent IND is expected shortly before the Company initiates the next Phase 2 dose-confirmatory clinical trial, which has been delayed due to the development activity associated with improving the seroconversion rate of one of the four strains. The outside clinical trial costs of the 205 Trial conducted last year total $2.9 million, which was incurred from the inception of the clinical trial through June 30, 2013. These costs have been recorded as an expense and are included in cost of government contracts revenue.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.25in"&gt; &lt;strong&gt;&lt;em&gt;&amp;nbsp;&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.25in"&gt; &lt;strong&gt;&lt;em&gt;CPL Biologicals Private Limited ("CPLB") Joint Venture&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; In 2009, the Company formed a joint venture with Cadila Pharmaceuticals Limited ("Cadila") named CPL Biologicals Private Limited (the "CPLB") to develop and manufacture vaccines, biological therapeutics and diagnostics in India. CPLB is owned 20% by the Company and 80% by Cadila. The Company accounts for its investment in CPLB using the equity method. Since the carrying value of the Company&amp;#39;s initial investment was nominal and there is no guarantee or commitment to provide future funding, the Company has not recorded any losses related to this investment.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.25in"&gt; &lt;strong&gt;&lt;em&gt;&amp;nbsp;&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.25in"&gt; &lt;strong&gt;&lt;em&gt;LG Life Sciences, Ltd. ("LGLS") License Agreement&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; In February 2011, the Company entered into a license agreement with LGLS that allows LGLS to use the Company&amp;#39;s technology to develop and commercially sell influenza vaccines exclusively in South Korea and non-exclusively in certain other specified countries. At its own cost, LGLS is responsible for funding both its clinical development of the influenza VLP vaccines and a manufacturing facility to produce such vaccine in South Korea. Under the license agreement, the Company is obligated to provide LGLS with information and materials related to the manufacture of the licensed products, provide on-going project management and regulatory support and conduct clinical trials of its influenza vaccines in order to obtain FDA approval in the U.S. The term of the license agreement is expected to terminate in 2027. Payments to the Company under the license agreement include an upfront payment of $2.5 million, reimbursements of certain development and product costs, payments related to the achievement of certain milestones and royalty payments in the high single digits from LGLS&amp;#39;s future commercial sales of influenza VLP vaccines. The upfront payment has been deferred and will be recognized when the previously mentioned obligations in the agreement are satisfied, which may not occur until the end of the term of the agreement. Payments for milestones under the agreement will be recognized on a straight-line basis over the remaining term of the research and development period upon achievement of such milestone. Any royalties under the agreement will be recognized as earned.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.25in"&gt; &lt;strong&gt;&lt;em&gt;&amp;nbsp;&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.25in"&gt; &lt;strong&gt;&lt;em&gt;PATH Vaccine Solutions ("PATH") Clinical Development Agreement&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; In July 2012, the Company entered into a clinical development agreement with PATH to develop its vaccine candidate to protect against RSV through maternal immunization in low-resource countries (the "RSV Collaboration Program"). The Company was awarded approximately $2.0 million by PATH for initial funding under the agreement to partially support its Phase 2 dose-ranging clinical trial in women of childbearing age, which was launched in October 2012. In August 2013, the funding under the agreement was increased by $0.3 million and the term extended to April 2014 to support the Company&amp;#39;s reproductive toxicology studies, which are necessary before it conducts clinical trials in pregnant women. The Company retains global rights to commercialize the product and has made a commitment to make the vaccine affordable and available in low-resource countries. To the extent PATH has elected to continue to fund 50% of the Company&amp;#39;s external clinical development costs for the RSV Collaboration Program, but the Company does not continue development, the Company would then grant PATH a fully-paid license to its RSV vaccine technology for use in pregnant women in such low-resource countries. The Company recognized revenue of approximately $0.6 million in the six months ended June 30, 2013, and has recognized approximately $1.9 million in revenue since the inception of the contract. Revenue under this arrangement is being 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 this agreement represent a reasonable measurement of proportional performance of the services being performed.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:CollaborativeArrangementDisclosureTextBlock>
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  <us-gaap:ContractRevenueCost id="ContractRevenueCost.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">3344000</us-gaap:ContractRevenueCost>
  <us-gaap:ContractRevenueCost id="ContractRevenueCost.524.0.0.0.0.0.0" contextRef="from-2013-04-01-to-2013-06-30.524.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">1632000</us-gaap:ContractRevenueCost>
  <us-gaap:ContractRevenueCost id="ContractRevenueCost.525.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">8903000</us-gaap:ContractRevenueCost>
  <us-gaap:ContractRevenueCost id="ContractRevenueCost.526.0.0.0.0.0.0" contextRef="from-2012-04-01-to-2012-06-30.526.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">5118000</us-gaap:ContractRevenueCost>
  <us-gaap:ContractsRevenue id="ContractsRevenue.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">6717000</us-gaap:ContractsRevenue>
  <us-gaap:ContractsRevenue id="ContractsRevenue.524.0.0.0.0.0.0" contextRef="from-2013-04-01-to-2013-06-30.524.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">3276000</us-gaap:ContractsRevenue>
  <us-gaap:ContractsRevenue id="ContractsRevenue.525.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">11745000</us-gaap:ContractsRevenue>
  <us-gaap:ContractsRevenue id="ContractsRevenue.526.0.0.0.0.0.0" contextRef="from-2012-04-01-to-2012-06-30.526.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">7103000</us-gaap:ContractsRevenue>
  <us-gaap:ContractsRevenue id="ContractsRevenue.521.23929.5386.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.23929.5386.0.0.0.0" unitRef="USD" decimals="-3">6500000</us-gaap:ContractsRevenue>
  <us-gaap:ContractsRevenue id="ContractsRevenue.1414.23929.5386.0.0.0.0" contextRef="from-2011-02-01-to-2013-06-30.1414.0.23929.5386.0.0.0.0" unitRef="USD" decimals="-3">41000000</us-gaap:ContractsRevenue>
  <us-gaap:CostsAndExpenses id="CostsAndExpenses.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">30267000</us-gaap:CostsAndExpenses>
  <us-gaap:CostsAndExpenses id="CostsAndExpenses.524.0.0.0.0.0.0" contextRef="from-2013-04-01-to-2013-06-30.524.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">16429000</us-gaap:CostsAndExpenses>
  <us-gaap:CostsAndExpenses id="CostsAndExpenses.525.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">25067000</us-gaap:CostsAndExpenses>
  <us-gaap:CostsAndExpenses id="CostsAndExpenses.526.0.0.0.0.0.0" contextRef="from-2012-04-01-to-2012-06-30.526.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">12958000</us-gaap:CostsAndExpenses>
  <us-gaap:DebtDisclosureTextBlock id="DebtDisclosureTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in; font-size-adjust: none; font-stretch: normal"&gt; Note 9 - Notes Payable&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; In September 2012, the Company entered into a master security agreement with General Electric Capital Corporation ("GE"), whereby the Company can borrow up to $2.0 million to finance the purchases of equipment through June 2013 ("Equipment Loan"). Each Equipment Loan bears interest at the three-year U.S. Government treasury rate plus 11.68%, provided that the rate shall not be less than 12.1%, and is to be repaid over forty-two (42) months. GE will maintain a security interest in all equipment financed under the Equipment Loan. During the six months ended June 30, 2013, the Company financed $1.5 million in total at interest rates of 12.1% with monthly principal payments totaling $34,529 ("2013 Funding"). Interest accrues on the outstanding balance until paid in full. As of June 30, 2013, the Company has financed $2.0 million in total under the Equipment Loan.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; Aggregate future minimum principal payments on the Equipment Loan, including the 2013 Funding, at June 30, 2013 are as follows (in thousands):&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 90%; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0px"&gt; &lt;strong&gt;&lt;u&gt;Year&lt;/u&gt;&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; PADDING-LEFT: 0px" colspan="2"&gt;Amount&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px; WIDTH: 87%"&gt;2013 (remainder)&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: right; PADDING-LEFT: 0px; WIDTH: 10%"&gt; 286&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; 2014&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: right; PADDING-LEFT: 0px"&gt; 571&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; 2015&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: right; PADDING-LEFT: 0px"&gt; 571&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; 2016&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px"&gt; 396&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px"&gt; 1,824&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:DebtDisclosureTextBlock>
  <us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 id="DebtInstrumentBasisSpreadOnVariableRate1.537.0.0.0.0.0.0" contextRef="from-2012-09-01-to-2012-09-30.537.0.0.0.0.0.0.0" unitRef="pure" decimals="4">0.1168</us-gaap:DebtInstrumentBasisSpreadOnVariableRate1>
  <us-gaap:DebtInstrumentFaceAmount id="DebtInstrumentFaceAmount.536.0.0.0.0.0.0" contextRef="as-of-2012-09-30.536.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">2000000</us-gaap:DebtInstrumentFaceAmount>
  <us-gaap:DebtInstrumentInterestRateDuringPeriod id="DebtInstrumentInterestRateDuringPeriod.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="pure" decimals="3">0.121</us-gaap:DebtInstrumentInterestRateDuringPeriod>
  <us-gaap:DebtInstrumentInterestRateStatedPercentageRateRangeMinimum id="DebtInstrumentInterestRateStatedPercentageRateRangeMinimum.537.0.0.0.0.0.0" contextRef="from-2012-09-01-to-2012-09-30.537.0.0.0.0.0.0.0" unitRef="pure" decimals="3">0.121</us-gaap:DebtInstrumentInterestRateStatedPercentageRateRangeMinimum>
  <us-gaap:DebtInstrumentPeriodicPayment id="DebtInstrumentPeriodicPayment.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" decimals="0">34529</us-gaap:DebtInstrumentPeriodicPayment>
  <us-gaap:DebtInstrumentTerm id="DebtInstrumentTerm.537.0.0.0.0.0.0" contextRef="from-2012-09-01-to-2012-09-30.537.0.0.0.0.0.0.0">P42M</us-gaap:DebtInstrumentTerm>
  <us-gaap:DeferredRentCreditCurrent id="DeferredRentCreditCurrent.522.0.0.0.0.0.0" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">456000</us-gaap:DeferredRentCreditCurrent>
  <us-gaap:DeferredRentCreditCurrent id="DeferredRentCreditCurrent.523.0.0.0.0.0.0" contextRef="as-of-2012-12-31.523.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">432000</us-gaap:DeferredRentCreditCurrent>
  <us-gaap:DeferredRentCreditNoncurrent id="DeferredRentCreditNoncurrent.522.0.0.0.0.0.0" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">8077000</us-gaap:DeferredRentCreditNoncurrent>
  <us-gaap:DeferredRentCreditNoncurrent id="DeferredRentCreditNoncurrent.523.0.0.0.0.0.0" contextRef="as-of-2012-12-31.523.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">6940000</us-gaap:DeferredRentCreditNoncurrent>
  <us-gaap:DeferredRevenueCurrent id="DeferredRevenueCurrent.522.0.0.0.0.0.0" xsi:nil="true" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:DeferredRevenueCurrent id="DeferredRevenueCurrent.523.0.0.0.0.0.0" contextRef="as-of-2012-12-31.523.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">258000</us-gaap:DeferredRevenueCurrent>
  <us-gaap:DeferredRevenueNoncurrent id="DeferredRevenueNoncurrent.522.0.0.0.0.0.0" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">2500000</us-gaap:DeferredRevenueNoncurrent>
  <us-gaap:DeferredRevenueNoncurrent id="DeferredRevenueNoncurrent.523.0.0.0.0.0.0" contextRef="as-of-2012-12-31.523.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">2500000</us-gaap:DeferredRevenueNoncurrent>
  <us-gaap:DepreciationAndAmortization id="DepreciationAndAmortization.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">961000</us-gaap:DepreciationAndAmortization>
  <us-gaap:DepreciationAndAmortization id="DepreciationAndAmortization.525.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">810000</us-gaap:DepreciationAndAmortization>
  <us-gaap:DerivativeLiabilitiesCurrent id="DerivativeLiabilitiesCurrent.522.0.0.0.0.0.0" xsi:nil="true" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:DerivativeLiabilitiesCurrent id="DerivativeLiabilitiesCurrent.523.0.0.0.0.0.0" contextRef="as-of-2012-12-31.523.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">267000</us-gaap:DerivativeLiabilitiesCurrent>
  <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock id="DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Note 7 - Stock-Based Compensation&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &lt;strong&gt;&lt;em&gt;Stock Options&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &lt;strong&gt;&lt;em&gt;&amp;nbsp;&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The Company has granted equity awards under several plans. Under the 2005 Stock Incentive Plan (the "2005 Plan"), equity awards may be granted to officers, directors, employees, consultants and advisors to the Company and any present or future subsidiary. The 2005 Plan, approved in May 2005 and amended in June 2007, June 2011, June 2012 and June 2013 by the Company&amp;#39;s stockholders, currently authorizes the grant of equity awards for up to 22,312,192 shares of common stock, which included, at the time of approval of the 2005 Plan, a maximum 5,746,468 shares of common stock subject to stock options outstanding under the Company&amp;#39;s 1995 Stock Option Plan (the "1995 Plan") that may revert to and become issuable under the 2005 Plan if such options should expire or otherwise terminate unexercised. The Company received approval at its 2013 annual meeting of stockholders to increase the number of shares of common stock available for issuance under the 2005 Plan by 4,000,000 shares. The term of the Company&amp;#39;s 1995 Plan has expired. Outstanding stock options remain in existence in accordance with their terms and no new awards will be made under the 1995 Plan.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Under the 2005 Plan and the 1995 Plan, incentive stock options, having a maximum term of 10 years, can be or were granted at no less than 100% of the fair value of the Company&amp;#39;s common stock at the time of grant and are generally exercisable over periods ranging from six months to four years. There is no minimum exercise price for non-statutory stock options.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0in"&gt; &lt;strong&gt;&lt;em&gt;&amp;nbsp;&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0in"&gt; &lt;strong&gt;&lt;em&gt;Stock Options Awards&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The following is a summary of option activity under the 2005 Plan and the 1995 Plan for the six months ended June 30, 2013:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 90%" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt;2005 Stock Incentive Plan&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt;1995 Stock Option Plan&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Stock&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Options&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Weighted-&lt;/strong&gt;&lt;/font&gt;&lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Average&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Exercise&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Price&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Stock&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Options&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Weighted-&lt;/strong&gt;&lt;/font&gt;&lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Average&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Exercise&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Price&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 56%"&gt;Outstanding at January 1, 2013&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;9,143,825&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;1.87&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;211,900&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;4.94&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;Granted&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;4,007,500&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1.89&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;Exercised&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(133,917&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;2.02&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;Canceled&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (750,008&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 1.72&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (23,750&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 4.05&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;Outstanding at June 30, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 12,267,400&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 1.88&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 188,150&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 5.04&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt; TEXT-INDENT: -9pt"&gt; Shares exercisable at June 30, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 4,662,956&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 2.17&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 188,150&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 5.04&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt; TEXT-INDENT: -9pt"&gt; Shares available for grant at June 30, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 2,518,619&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The fair value of stock options granted was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions:&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 95%" cellspacing="0" cellpadding="0" align="center"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="FONT-SIZE: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="3"&gt;Three Months Ended&lt;br /&gt; June 30,&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="3"&gt;Six Months Ended&lt;br /&gt; June 30,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="FONT-SIZE: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"&gt; 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"&gt; 2012&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"&gt; 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"&gt; 2012&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 36%"&gt; Weighted-average fair value of stock options granted&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"&gt; $1.01&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"&gt; $0.71&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"&gt; $1.00&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"&gt; $0.71&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"&gt; Risk-free interest rate&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0.54%-0.96%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0.59%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0.54%-1.34%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0.59%-1.54%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"&gt; Dividend yield&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt; Volatility&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 55.81%-66.02%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 75.47%-75.52%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 55.81%-73.72%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 75.47%-80.48%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"&gt; Expected term (in years)&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 3.98-4.25&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 4.24&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 3.98-7.05&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 3.34-7.09&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"&gt; Expected forfeiture rate&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%-23.15%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%-23.15%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%-23.15%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%-23.15%&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The aggregate intrinsic value and weighted-average remaining contractual term of stock options outstanding as of June 30, 2013 was approximately $4.3 million and 7.6 years, respectively. The aggregate intrinsic value and weighted-average remaining contractual term of stock options exercisable as of June 30, 2013 was approximately $1.5 million and 5.6 years, respectively. The aggregate intrinsic value represents the total intrinsic value (the difference between the Company&amp;#39;s closing stock price on the last trading day of the period and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on June 30, 2013. This amount is subject to change based on changes to the fair value of the Company&amp;#39;s common stock. The aggregate intrinsic value of options exercised for the six months ended June 30, 2013 and 2012 was less than $0.1 million.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &lt;strong&gt;&lt;em&gt;&amp;nbsp;&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &lt;strong&gt;&lt;em&gt;Employee Stock Purchase Plan&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The Company received approval at its 2013 annual meeting of stockholders to adopt an Employee Stock Purchase Plan (the "ESPP"), which currently authorizes an aggregate of 2,000,000 shares of Common Stock to be purchased. The ESPP allows employees to purchase shares of Common Stock of the Company at each purchase date through payroll deductions of up to a maximum of 15% of their compensation, at 85% of the lesser of the market price of the shares at the time of purchase or the market price on the beginning date of an option period (or, if later, the date during the option when the employee was first eligible to participate). The first option period under the ESPP commenced August 1, 2013.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0in"&gt; &lt;strong&gt;&lt;em&gt;Restricted Stock Awards&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Under the 2005 Plan, the Company has granted restricted stock awards subject to certain performance-based and time-based vesting conditions which, if not met, would result in forfeiture of the shares and reversal of any previously recognized related stock-based compensation expense.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The following is a summary of restricted stock awards activity for the six months ended June 30, 2013:&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 85%" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 3.8pt"&gt; &lt;strong&gt;Number of&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 3.8pt"&gt; &lt;strong&gt;Shares&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 5.25pt"&gt; &lt;strong&gt;Per Share&lt;/strong&gt;&lt;br /&gt; &lt;strong&gt;Weighted-&lt;/strong&gt;&lt;br /&gt; &lt;strong&gt;Average&lt;/strong&gt;&lt;br /&gt; &lt;strong&gt;Grant-Date&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 5.25pt"&gt; &lt;strong&gt;Fair Value&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; WIDTH: 68%"&gt;Outstanding at January 1, 2013&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 13%"&gt;33,334&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 13%"&gt;1.39&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Restricted stock granted&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Restricted stock vested&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Restricted stock forfeited&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;Outstanding at June 30, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 33,334&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 1.39&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The Company recorded stock-based compensation expense in the statements of operations as follows (in thousands):&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.5in; WIDTH: 93%" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Three Months Ended&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;June 30,&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Six Months Ended&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;June 30,&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 56%"&gt;Research and development&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;296&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;236&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;513&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;419&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;General and administrative&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 342&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 353&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 608&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 757&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 8.1pt; TEXT-INDENT: -8.1pt"&gt; Total stock-based compensation expense&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 638&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 589&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 1,121&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 1,176&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; As of June 30, 2013, there was approximately $4.9 million of total unrecognized compensation expense (net of estimated forfeitures) related to unvested options and restricted stock awards. This unrecognized compensation expense is expected to be recognized over a weighted-average period of 1.6 years. This estimate does not include the impact of other possible stock-based awards that may be made during future periods.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <us-gaap:EarningsPerShareBasicAndDiluted id="EarningsPerShareBasicAndDiluted.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD_per_share" decimals="2">-0.15</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerShareBasicAndDiluted id="EarningsPerShareBasicAndDiluted.524.0.0.0.0.0.0" contextRef="from-2013-04-01-to-2013-06-30.524.0.0.0.0.0.0.0" unitRef="USD_per_share" decimals="2">-0.08</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerShareBasicAndDiluted id="EarningsPerShareBasicAndDiluted.525.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="USD_per_share" decimals="2">-0.11</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerShareBasicAndDiluted id="EarningsPerShareBasicAndDiluted.526.0.0.0.0.0.0" contextRef="from-2012-04-01-to-2012-06-30.526.0.0.0.0.0.0.0" unitRef="USD_per_share" decimals="2">-0.05</us-gaap:EarningsPerShareBasicAndDiluted>
  <us-gaap:EarningsPerSharePolicyTextBlock id="EarningsPerSharePolicyTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &lt;strong&gt;&lt;em&gt;Net Loss per Share&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Net loss per share is computed using the weighted average number of shares of common stock outstanding. All outstanding warrants, stock options and unvested restricted stock awards totaling 15,832,208 shares and 13,110,708 shares at June 30, 2013 and 2012, respectively, are excluded from the computation, as their effect is antidilutive.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:EarningsPerSharePolicyTextBlock>
  <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized id="EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized.522.0.0.0.0.0.0" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">4900000</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized>
  <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1 id="EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">P1Y7M6D</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1>
  <us-gaap:EquityIssuancePerShareAmount id="EquityIssuancePerShareAmount.535.0.0.0.0.0.0" contextRef="from-2008-07-01-to-2008-07-31.535.0.0.0.0.0.0.0" unitRef="USD_per_share" decimals="2">2.68</us-gaap:EquityIssuancePerShareAmount>
  <us-gaap:EquityIssuancePerShareAmount id="EquityIssuancePerShareAmount.521.3382.4365.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.3382.4365.0.0.0.0" unitRef="USD_per_share" decimals="2">2.06</us-gaap:EquityIssuancePerShareAmount>
  <us-gaap:EquityIssuancePerShareAmount id="EquityIssuancePerShareAmount.521.3373.4365.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.3373.4365.0.0.0.0" unitRef="USD_per_share" decimals="2">2.63</us-gaap:EquityIssuancePerShareAmount>
  <us-gaap:EquityMethodInvestmentOwnershipPercentage id="EquityMethodInvestmentOwnershipPercentage.522.0.0.0.0.0.0" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="pure" decimals="1">0.2</us-gaap:EquityMethodInvestmentOwnershipPercentage>
  <us-gaap:FairValueDisclosuresTextBlock id="FairValueDisclosuresTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Note 4 - Fair Value Measurements&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in"&gt; The following table represents the Company&amp;#39;s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis (in thousands):&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10" nowrap="nowrap"&gt;Fair Value at June 30, 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10" nowrap="nowrap"&gt;Fair Value at December 31, 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 1&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 2&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 3&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 1&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 2&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 3&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-DECORATION: underline"&gt; Assets&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 8pt; WIDTH: 34%; TEXT-INDENT: -8pt"&gt; Corporate debt securities and auction rate securities&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; 38,025&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; 32,945&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;Total investments&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 38,025&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 32,945&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-DECORATION: underline"&gt; Liabilities&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;Warrant liabilities&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 267&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in"&gt; During the six months ended June 30, 2013, the Company did not have any transfers between levels.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The following table provides a reconciliation of the beginning and ending balance of Level 3 assets and liabilities measured on a recurring basis for the six months ended June 30, 2013 (in thousands):&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 75%" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Fair&amp;nbsp;Value&amp;nbsp;Measurements&amp;nbsp;of&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Warrants&amp;nbsp;Using Significant&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Unobservable&amp;nbsp;Inputs&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;(Level&amp;nbsp;3)&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 72%"&gt;Balance at December 31, 2012&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 25%"&gt;267&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Change in fair value of Warrant liability&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (267&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;Balance at June 30, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The amounts in the Company&amp;#39;s balance sheet for accounts receivables, unbilled receivables and accounts payable approximate fair value due to their short-term nature. Based on borrowing rates available to the Company, the fair value of capital lease and notes payable approximates their carrying value.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:FairValueDisclosuresTextBlock>
  <us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock id="FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The following table provides a reconciliation of the beginning and ending balance of Level 3 assets and liabilities measured on a recurring basis for the six months ended June 30, 2013 (in thousands):&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 75%" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Fair&amp;nbsp;Value&amp;nbsp;Measurements&amp;nbsp;of&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Warrants&amp;nbsp;Using Significant&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Unobservable&amp;nbsp;Inputs&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;(Level&amp;nbsp;3)&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 72%"&gt;Balance at December 31, 2012&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 25%"&gt;267&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Change in fair value of Warrant liability&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (267&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;Balance at June 30, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock>
  <us-gaap:FairValueMeasurementPolicyPolicyTextBlock id="FairValueMeasurementPolicyPolicyTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &lt;strong&gt;&lt;em&gt;Fair Value Measurements&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The Company applies Accounting Standards Codification ("ASC") Topic 820, &lt;em&gt;Fair Value Measurements and Disclosures&lt;/em&gt;, for financial and non-financial assets and liabilities.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; ASC 820 discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow) and the cost approach (cost to replace the service capacity of an asset or replacement cost). The statement utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 0.25in"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 0.25in"&gt;&amp;middot;&lt;/td&gt; &lt;td style="TEXT-ALIGN: justify"&gt;Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 0.25in"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 0.25in"&gt;&amp;middot;&lt;/td&gt; &lt;td style="TEXT-ALIGN: justify"&gt;Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 0.25in"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 0.25in"&gt;&amp;middot;&lt;/td&gt; &lt;td style="TEXT-ALIGN: justify"&gt;Level 3: Unobservable inputs that reflect the reporting entity&amp;#39;s own assumptions.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:FairValueMeasurementPolicyPolicyTextBlock>
  <us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease id="FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease.521.23966.4707.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.23966.4707.0.0.0.0" unitRef="USD" decimals="-3">-267000</us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease>
  <us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue id="FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue.522.23966.4707.0.0.0.0" xsi:nil="true" contextRef="as-of-2013-06-30.522.0.23966.4707.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue id="FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue.523.23966.4707.0.0.0.0" contextRef="as-of-2012-12-31.523.0.23966.4707.0.0.0.0" unitRef="USD" decimals="-3">267000</us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue>
  <us-gaap:GainLossOnDerivativeInstrumentsNetPretax id="GainLossOnDerivativeInstrumentsNetPretax.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">267000</us-gaap:GainLossOnDerivativeInstrumentsNetPretax>
  <us-gaap:GainLossOnDerivativeInstrumentsNetPretax id="GainLossOnDerivativeInstrumentsNetPretax.524.0.0.0.0.0.0" contextRef="from-2013-04-01-to-2013-06-30.524.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">267000</us-gaap:GainLossOnDerivativeInstrumentsNetPretax>
  <us-gaap:GainLossOnDerivativeInstrumentsNetPretax id="GainLossOnDerivativeInstrumentsNetPretax.525.0.0.0.0.0.0" xsi:nil="true" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:GainLossOnDerivativeInstrumentsNetPretax id="GainLossOnDerivativeInstrumentsNetPretax.526.0.0.0.0.0.0" contextRef="from-2012-04-01-to-2012-06-30.526.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">-101000</us-gaap:GainLossOnDerivativeInstrumentsNetPretax>
  <us-gaap:GainLossOnSaleOfPropertyPlantEquipment id="GainLossOnSaleOfPropertyPlantEquipment.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">43000</us-gaap:GainLossOnSaleOfPropertyPlantEquipment>
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  <us-gaap:IncreaseDecreaseInDeferredRevenue id="IncreaseDecreaseInDeferredRevenue.525.0.0.0.0.0.0" xsi:nil="true" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:IncreaseDecreaseInOtherNoncurrentLiabilities id="IncreaseDecreaseInOtherNoncurrentLiabilities.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">703000</us-gaap:IncreaseDecreaseInOtherNoncurrentLiabilities>
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  <us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets id="IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">-702000</us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets>
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  <us-gaap:IncreaseDecreaseInRestrictedCash id="IncreaseDecreaseInRestrictedCash.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">-986000</us-gaap:IncreaseDecreaseInRestrictedCash>
  <us-gaap:IncreaseDecreaseInRestrictedCash id="IncreaseDecreaseInRestrictedCash.525.0.0.0.0.0.0" xsi:nil="true" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:IncreaseDecreaseInUnbilledReceivables id="IncreaseDecreaseInUnbilledReceivables.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">245000</us-gaap:IncreaseDecreaseInUnbilledReceivables>
  <us-gaap:IncreaseDecreaseInUnbilledReceivables id="IncreaseDecreaseInUnbilledReceivables.525.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">2395000</us-gaap:IncreaseDecreaseInUnbilledReceivables>
  <us-gaap:InterestExpense id="InterestExpense.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">68000</us-gaap:InterestExpense>
  <us-gaap:InterestExpense id="InterestExpense.524.0.0.0.0.0.0" contextRef="from-2013-04-01-to-2013-06-30.524.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">45000</us-gaap:InterestExpense>
  <us-gaap:InterestExpense id="InterestExpense.525.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">6000</us-gaap:InterestExpense>
  <us-gaap:InterestExpense id="InterestExpense.526.0.0.0.0.0.0" contextRef="from-2012-04-01-to-2012-06-30.526.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">3000</us-gaap:InterestExpense>
  <us-gaap:InterestPaid id="InterestPaid.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">61000</us-gaap:InterestPaid>
  <us-gaap:InterestPaid id="InterestPaid.525.0.0.0.0.0.0" xsi:nil="true" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:InvestmentIncomeNet id="InvestmentIncomeNet.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">95000</us-gaap:InvestmentIncomeNet>
  <us-gaap:InvestmentIncomeNet id="InvestmentIncomeNet.524.0.0.0.0.0.0" contextRef="from-2013-04-01-to-2013-06-30.524.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">48000</us-gaap:InvestmentIncomeNet>
  <us-gaap:InvestmentIncomeNet id="InvestmentIncomeNet.525.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">72000</us-gaap:InvestmentIncomeNet>
  <us-gaap:InvestmentIncomeNet id="InvestmentIncomeNet.526.0.0.0.0.0.0" contextRef="from-2012-04-01-to-2012-06-30.526.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">39000</us-gaap:InvestmentIncomeNet>
  <us-gaap:InvestmentPolicyTextBlock id="InvestmentPolicyTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; Investments&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Investments consist of commercial paper, corporate notes and an investment in one auction rate security. Classification of marketable securities between current and non-current is dependent upon the original maturity date at purchase. Those securities purchased with original maturities greater than 90 days, but less than one year are classified as current and those with greater than one year are classified as non-current.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Interest and dividend income is recorded when earned and included in interest income. Premiums and discounts, if any, on investments are amortized or accreted to maturity and included in interest income. The specific identification method is used in computing realized gains and losses on the sale of the Company&amp;#39;s securities.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The Company has classified its investments as available-for-sale since the Company may need to liquidate these securities within the next year. The available-for-sale securities are carried at fair value and unrealized gains and losses on these securities, if determined to be temporary, are included in accumulated other comprehensive income (loss) in stockholders&amp;#39; equity. Investments are evaluated periodically to determine whether a decline in value is "other-than-temporary." The term "other-than-temporary" is not intended to indicate a permanent decline in value. Rather, it means that the prospects for a near term recovery of value are not necessarily favorable, or that there is a lack of evidence to support fair values equal to, or greater than, the carrying value of the security. Management reviews criteria, such as the magnitude and duration of the decline, as well as the Company&amp;#39;s ability to hold the securities until market recovery, to predict whether the loss in value is other-than-temporary. If a decline in value is determined to be other-than-temporary, the value of the security is reduced and the impairment is recorded in the statement of operations.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:InvestmentPolicyTextBlock>
  <us-gaap:InvestmentsFairValueDisclosure id="InvestmentsFairValueDisclosure.522.2138.1998.0.0.0.0" xsi:nil="true" contextRef="as-of-2013-06-30.522.0.2138.1998.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:InvestmentsFairValueDisclosure id="InvestmentsFairValueDisclosure.523.2138.1998.0.0.0.0" xsi:nil="true" contextRef="as-of-2012-12-31.523.0.2138.1998.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:InvestmentsFairValueDisclosure id="InvestmentsFairValueDisclosure.522.2139.1998.0.0.0.0" contextRef="as-of-2013-06-30.522.0.2139.1998.0.0.0.0" unitRef="USD" decimals="-3">38025000</us-gaap:InvestmentsFairValueDisclosure>
  <us-gaap:InvestmentsFairValueDisclosure id="InvestmentsFairValueDisclosure.523.2139.1998.0.0.0.0" contextRef="as-of-2012-12-31.523.0.2139.1998.0.0.0.0" unitRef="USD" decimals="-3">32945000</us-gaap:InvestmentsFairValueDisclosure>
  <us-gaap:InvestmentsFairValueDisclosure id="InvestmentsFairValueDisclosure.522.2129.1998.0.0.0.0" xsi:nil="true" contextRef="as-of-2013-06-30.522.0.2129.1998.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:InvestmentsFairValueDisclosure id="InvestmentsFairValueDisclosure.523.2129.1998.0.0.0.0" xsi:nil="true" contextRef="as-of-2012-12-31.523.0.2129.1998.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock id="InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;Note 5 - Investments&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; Investments classified as available-for-sale as of June 30, 2013 and December 31, 2012 were comprised of (in thousands):&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="6"&gt;&lt;strong&gt;June 30, 2013&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="6"&gt;December 31, 2012&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;Amortized&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;Cost&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"&gt;&lt;strong&gt;Gross Unrealized Gains&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"&gt;&lt;strong&gt;Gross Unrealized Losses&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2"&gt;Fair Value&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;Amortized&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;Cost&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"&gt;&lt;strong&gt;Gross Unrealized Gains&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"&gt;&lt;strong&gt;Gross Unrealized Losses&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2"&gt;Fair Value&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 10%; TEXT-INDENT: 0px"&gt; Auction rate securities&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 1,175&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 635&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 1,810&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 1,175&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 409&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 1,584&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; Corporate debt securities&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; 36,213&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 2&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 36,215&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; 31,340&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 21&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 31,361&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; Total&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 37,388&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 637&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 38,025&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 32,515&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 430&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 32,945&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock>
  <us-gaap:Liabilities id="Liabilities.522.0.0.0.0.0.0" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">23692000</us-gaap:Liabilities>
  <us-gaap:Liabilities id="Liabilities.523.0.0.0.0.0.0" contextRef="as-of-2012-12-31.523.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">22105000</us-gaap:Liabilities>
  <us-gaap:LiabilitiesAndStockholdersEquity id="LiabilitiesAndStockholdersEquity.522.0.0.0.0.0.0" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">92918000</us-gaap:LiabilitiesAndStockholdersEquity>
  <us-gaap:LiabilitiesAndStockholdersEquity id="LiabilitiesAndStockholdersEquity.523.0.0.0.0.0.0" contextRef="as-of-2012-12-31.523.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">102345000</us-gaap:LiabilitiesAndStockholdersEquity>
  <us-gaap:LiabilitiesCurrent id="LiabilitiesCurrent.522.0.0.0.0.0.0" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">11256000</us-gaap:LiabilitiesCurrent>
  <us-gaap:LiabilitiesCurrent id="LiabilitiesCurrent.523.0.0.0.0.0.0" contextRef="as-of-2012-12-31.523.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">11675000</us-gaap:LiabilitiesCurrent>
  <us-gaap:LongTermNotesPayable id="LongTermNotesPayable.522.0.0.0.0.0.0" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">1653000</us-gaap:LongTermNotesPayable>
  <us-gaap:LongTermNotesPayable id="LongTermNotesPayable.523.0.0.0.0.0.0" contextRef="as-of-2012-12-31.523.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">753000</us-gaap:LongTermNotesPayable>
  <us-gaap:NatureOfOperations id="NatureOfOperations.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in; font-size-adjust: none; font-stretch: normal"&gt; Note 1 - Organization&lt;/p&gt; &lt;p style="FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; Novavax, Inc. (the "Company") is a clinical-stage biopharmaceutical company focused on developing recombinant protein nanoparticle vaccines to address a broad range of infectious diseases. The Company&amp;#39;s technology platform is based on proprietary recombinant vaccine technology that includes virus-like particles ("VLPs") and recombinant protein micelle vaccines combined with a single-use bioprocessing production system. These vaccine candidates are genetically engineered three-dimensional nanostructures that incorporate immunologically important recombinant proteins. The Company&amp;#39;s product pipeline targets a variety of infectious diseases with vaccine candidates currently in mid-stage clinical development for seasonal influenza, pandemic influenza and respiratory syncytial virus ("RSV").&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:NatureOfOperations>
  <us-gaap:NetCashProvidedByUsedInFinancingActivities id="NetCashProvidedByUsedInFinancingActivities.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">11572000</us-gaap:NetCashProvidedByUsedInFinancingActivities>
  <us-gaap:NetCashProvidedByUsedInFinancingActivities id="NetCashProvidedByUsedInFinancingActivities.525.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">19374000</us-gaap:NetCashProvidedByUsedInFinancingActivities>
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  <us-gaap:ResearchAndDevelopmentExpense id="ResearchAndDevelopmentExpense.524.0.0.0.0.0.0" contextRef="from-2013-04-01-to-2013-06-30.524.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">10785000</us-gaap:ResearchAndDevelopmentExpense>
  <us-gaap:ResearchAndDevelopmentExpense id="ResearchAndDevelopmentExpense.525.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">10627000</us-gaap:ResearchAndDevelopmentExpense>
  <us-gaap:ResearchAndDevelopmentExpense id="ResearchAndDevelopmentExpense.526.0.0.0.0.0.0" contextRef="from-2012-04-01-to-2012-06-30.526.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">5371000</us-gaap:ResearchAndDevelopmentExpense>
  <us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue id="RestrictedCashAndCashEquivalentsAtCarryingValue.522.0.0.0.0.0.0" xsi:nil="true" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue id="RestrictedCashAndCashEquivalentsAtCarryingValue.523.0.0.0.0.0.0" contextRef="as-of-2012-12-31.523.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">986000</us-gaap:RestrictedCashAndCashEquivalentsAtCarryingValue>
  <us-gaap:RestrictedCashAndCashEquivalentsNoncurrent id="RestrictedCashAndCashEquivalentsNoncurrent.522.0.0.0.0.0.0" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">757000</us-gaap:RestrictedCashAndCashEquivalentsNoncurrent>
  <us-gaap:RestrictedCashAndCashEquivalentsNoncurrent id="RestrictedCashAndCashEquivalentsNoncurrent.523.0.0.0.0.0.0" contextRef="as-of-2012-12-31.523.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">756000</us-gaap:RestrictedCashAndCashEquivalentsNoncurrent>
  <us-gaap:RetainedEarningsAccumulatedDeficit id="RetainedEarningsAccumulatedDeficit.522.0.0.0.0.0.0" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">-380793000</us-gaap:RetainedEarningsAccumulatedDeficit>
  <us-gaap:RetainedEarningsAccumulatedDeficit id="RetainedEarningsAccumulatedDeficit.523.0.0.0.0.0.0" contextRef="as-of-2012-12-31.523.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">-358163000</us-gaap:RetainedEarningsAccumulatedDeficit>
  <us-gaap:Revenues id="Revenues.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">7365000</us-gaap:Revenues>
  <us-gaap:Revenues id="Revenues.524.0.0.0.0.0.0" contextRef="from-2013-04-01-to-2013-06-30.524.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">3531000</us-gaap:Revenues>
  <us-gaap:Revenues id="Revenues.525.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">11745000</us-gaap:Revenues>
  <us-gaap:Revenues id="Revenues.526.0.0.0.0.0.0" contextRef="from-2012-04-01-to-2012-06-30.526.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">7103000</us-gaap:Revenues>
  <us-gaap:ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock id="ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The Company recorded stock-based compensation expense in the statements of operations as follows (in thousands):&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.5in; WIDTH: 93%" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Three Months Ended&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;June 30,&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Six Months Ended&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;June 30,&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 56%"&gt;Research and development&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;296&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;236&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;513&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;419&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;General and administrative&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 342&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 353&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 608&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 757&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 8.1pt; TEXT-INDENT: -8.1pt"&gt; Total stock-based compensation expense&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 638&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 589&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 1,121&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 1,176&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock>
  <us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock id="ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in"&gt; The following table represents the Company&amp;#39;s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis (in thousands):&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10" nowrap="nowrap"&gt;Fair Value at June 30, 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10" nowrap="nowrap"&gt;Fair Value at December 31, 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 1&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 2&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 3&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 1&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 2&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 3&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-DECORATION: underline"&gt; Assets&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 8pt; WIDTH: 34%; TEXT-INDENT: -8pt"&gt; Corporate debt securities and auction rate securities&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; 38,025&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; 32,945&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;Total investments&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 38,025&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 32,945&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-DECORATION: underline"&gt; Liabilities&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;Warrant liabilities&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 267&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0in"&gt; &amp;nbsp;&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock>
  <us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock id="ScheduleOfMaturitiesOfLongTermDebtTableTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; Aggregate future minimum principal payments on the Equipment Loan, including the 2013 Funding, at June 30, 2013 are as follows (in thousands):&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 90%; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0px"&gt; &lt;strong&gt;&lt;u&gt;Year&lt;/u&gt;&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; PADDING-LEFT: 0px" colspan="2"&gt;Amount&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px; WIDTH: 87%"&gt;2013 (remainder)&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: right; PADDING-LEFT: 0px; WIDTH: 10%"&gt; 286&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; 2014&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: right; PADDING-LEFT: 0px"&gt; 571&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; 2015&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: right; PADDING-LEFT: 0px"&gt; 571&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; 2016&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px"&gt; 396&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px"&gt; 1,824&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfMaturitiesOfLongTermDebtTableTextBlock>
  <us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock id="ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The following is a summary of option activity under the 2005 Plan and the 1995 Plan for the six months ended June 30, 2013:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 90%" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt;2005 Stock Incentive Plan&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt;1995 Stock Option Plan&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Stock&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Options&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Weighted-&lt;/strong&gt;&lt;/font&gt;&lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Average&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Exercise&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Price&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Stock&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Options&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Weighted-&lt;/strong&gt;&lt;/font&gt;&lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Average&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Exercise&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Price&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 56%"&gt;Outstanding at January 1, 2013&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;9,143,825&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;1.87&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;211,900&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;4.94&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;Granted&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;4,007,500&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1.89&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;Exercised&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(133,917&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;2.02&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;Canceled&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (750,008&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 1.72&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (23,750&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 4.05&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;Outstanding at June 30, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 12,267,400&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 1.88&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 188,150&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 5.04&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt; TEXT-INDENT: -9pt"&gt; Shares exercisable at June 30, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 4,662,956&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 2.17&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 188,150&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 5.04&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt; TEXT-INDENT: -9pt"&gt; Shares available for grant at June 30, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 2,518,619&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
  <us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock id="ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0">&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The fair value of stock options granted was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions:&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 95%" cellspacing="0" cellpadding="0" align="center"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="FONT-SIZE: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="3"&gt;Three Months Ended&lt;br /&gt; June 30,&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="3"&gt;Six Months Ended&lt;br /&gt; June 30,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="FONT-SIZE: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"&gt; 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"&gt; 2012&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"&gt; 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"&gt; 2012&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 36%"&gt; Weighted-average fair value of stock options granted&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"&gt; $1.01&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"&gt; $0.71&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"&gt; $1.00&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"&gt; $0.71&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"&gt; Risk-free interest rate&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0.54%-0.96%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0.59%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0.54%-1.34%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0.59%-1.54%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"&gt; Dividend yield&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt; Volatility&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 55.81%-66.02%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 75.47%-75.52%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 55.81%-73.72%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 75.47%-80.48%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"&gt; Expected term (in years)&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 3.98-4.25&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 4.24&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 3.98-7.05&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 3.34-7.09&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"&gt; Expected forfeiture rate&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%-23.15%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%-23.15%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%-23.15%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%-23.15%&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock>
  <us-gaap:ShareBasedCompensation id="ShareBasedCompensation.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">1121000</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensation id="ShareBasedCompensation.525.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="USD" decimals="-3">1176000</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod id="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod.521.0.0.0.0.0.0" xsi:nil="true" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="shares" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue id="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue.521.0.0.0.0.0.0" xsi:nil="true" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD_per_share" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod id="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod.521.0.0.0.0.0.0" xsi:nil="true" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="shares" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue id="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue.521.0.0.0.0.0.0" xsi:nil="true" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD_per_share" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber id="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber.522.0.0.0.0.0.0" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="shares" decimals="0">33334</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber id="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber.523.0.0.0.0.0.0" contextRef="as-of-2012-12-31.523.0.0.0.0.0.0.0" unitRef="shares" decimals="0">33334</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue id="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue.522.0.0.0.0.0.0" contextRef="as-of-2013-06-30.522.0.0.0.0.0.0.0" unitRef="USD_per_share" decimals="2">1.39</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue id="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue.523.0.0.0.0.0.0" contextRef="as-of-2012-12-31.523.0.0.0.0.0.0.0" unitRef="USD_per_share" decimals="2">1.39</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod id="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod.521.0.0.0.0.0.0" xsi:nil="true" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="shares" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue id="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue.521.0.0.0.0.0.0" xsi:nil="true" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="USD_per_share" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" />
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate id="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="pure" decimals="0">0</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate id="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate.524.0.0.0.0.0.0" contextRef="from-2013-04-01-to-2013-06-30.524.0.0.0.0.0.0.0" unitRef="pure" decimals="0">0</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate id="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate.525.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="pure" decimals="0">0</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate id="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate.526.0.0.0.0.0.0" contextRef="from-2012-04-01-to-2012-06-30.526.0.0.0.0.0.0.0" unitRef="pure" decimals="0">0</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 id="SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1.526.0.0.0.0.0.0" contextRef="from-2012-04-01-to-2012-06-30.526.0.0.0.0.0.0.0">P4Y2M27D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 id="SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1.521.3382.4365.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.3382.4365.0.0.0.0">P3Y11M23D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 id="SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1.524.3382.4365.0.0.0.0" contextRef="from-2013-04-01-to-2013-06-30.524.0.3382.4365.0.0.0.0">P3Y11M23D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 id="SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1.525.3382.4365.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.3382.4365.0.0.0.0">P3Y4M2D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 id="SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1.521.3373.4365.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.3373.4365.0.0.0.0">P7Y18D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 id="SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1.524.3373.4365.0.0.0.0" contextRef="from-2013-04-01-to-2013-06-30.524.0.3373.4365.0.0.0.0">P4Y3M</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 id="SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1.525.3373.4365.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.3373.4365.0.0.0.0">P7Y1M2D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum id="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="pure" decimals="4">0.7372</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum id="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum.524.0.0.0.0.0.0" contextRef="from-2013-04-01-to-2013-06-30.524.0.0.0.0.0.0.0" unitRef="pure" decimals="4">0.6602</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum id="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum.525.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="pure" decimals="4">0.8048</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum id="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum.526.0.0.0.0.0.0" contextRef="from-2012-04-01-to-2012-06-30.526.0.0.0.0.0.0.0" unitRef="pure" decimals="4">0.7552</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum id="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="pure" decimals="4">0.5581</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum id="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum.524.0.0.0.0.0.0" contextRef="from-2013-04-01-to-2013-06-30.524.0.0.0.0.0.0.0" unitRef="pure" decimals="4">0.5581</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum id="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum.525.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="pure" decimals="4">0.7547</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum id="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum.526.0.0.0.0.0.0" contextRef="from-2012-04-01-to-2012-06-30.526.0.0.0.0.0.0.0" unitRef="pure" decimals="4">0.7547</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate id="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate.526.0.0.0.0.0.0" contextRef="from-2012-04-01-to-2012-06-30.526.0.0.0.0.0.0.0" unitRef="pure" decimals="4">0.0059</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum id="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="pure" decimals="4">0.0134</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum id="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum.524.0.0.0.0.0.0" contextRef="from-2013-04-01-to-2013-06-30.524.0.0.0.0.0.0.0" unitRef="pure" decimals="4">0.0096</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum id="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum.525.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="pure" decimals="4">0.0154</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum id="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum.521.0.0.0.0.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" unitRef="pure" decimals="4">0.0054</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum id="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum.524.0.0.0.0.0.0" contextRef="from-2013-04-01-to-2013-06-30.524.0.0.0.0.0.0.0" unitRef="pure" decimals="4">0.0054</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum id="ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum.525.0.0.0.0.0.0" contextRef="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" unitRef="pure" decimals="4">0.0059</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized id="ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized.521.23962.4031.4759.5162.0.0" contextRef="from-2013-01-01-to-2013-06-30.521.0.23962.4031.4759.5162.0.0" unitRef="shares" decimals="0">4000000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized id="ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized.522.23962.4031.0.0.0.0" contextRef="as-of-2013-06-30.522.0.23962.4031.0.0.0.0" unitRef="shares" decimals="0">22312192</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized id="ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized.522.23942.4031.0.0.0.0" contextRef="as-of-2013-06-30.522.0.23942.4031.0.0.0.0" unitRef="shares" decimals="0">5746468</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized>
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        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
        <link:usedOn>link:referenceLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.novavax.com/role/StockholdersEquityDetails" id="nvax-sed" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>40601 - Disclosure - Stockholders' Equity (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
        <link:usedOn>link:referenceLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.novavax.com/role/StatementsOfCashFlows" id="nvax-socf" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>006 - Statement - STATEMENTS OF CASH FLOWS</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
        <link:usedOn>link:referenceLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.novavax.com/role/StatementsOfCashFlowsParenthetical" id="nvax-socfp" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>007 - Statement - STATEMENTS OF CASH FLOWS (Parenthetical)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
        <link:usedOn>link:referenceLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.novavax.com/role/StatementsOfComprehensiveLoss" id="nvax-socl" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>005 - Statement - STATEMENTS OF COMPREHENSIVE LOSS</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
        <link:usedOn>link:referenceLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.novavax.com/role/SalesOfCommonStock" id="nvax-socs" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>111 - Disclosure - Sales of Common Stock</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
        <link:usedOn>link:referenceLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.novavax.com/role/SalesOfCommonStockDetails" id="nvax-socsd" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>41101 - Disclosure - Sales of Common Stock (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
        <link:usedOn>link:referenceLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.novavax.com/role/StatementsOfOperations" id="nvax-soo" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>004 - Statement - STATEMENTS OF OPERATIONS</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
        <link:usedOn>link:referenceLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.novavax.com/role/SummaryOfSignificantAccountingPolicies" id="nvax-sosap" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>103 - Disclosure - Summary of Significant Accounting Policies</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
        <link:usedOn>link:referenceLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.novavax.com/role/SummaryOfSignificantAccountingPoliciesNarrativeDetails" id="nvax-sosapnd" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>40301 - Disclosure - Summary of Significant Accounting Policies (Narrative) (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
        <link:usedOn>link:referenceLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.novavax.com/role/SummaryOfSignificantAccountingPoliciesPolicy" id="nvax-sosapp" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>203 - Disclosure - Summary of Significant Accounting Policies (Policy)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
        <link:usedOn>link:referenceLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.novavax.com/role/UsGovernmentAgreementAndCollaborationsDetails" id="nvax-ugaacd" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>40801 - Disclosure - U.S. Government Agreement and Collaborations (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
        <link:usedOn>link:referenceLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.novavax.com/role/UsGovernmentAgreementJointVentureAndCollaborations" id="nvax-ugajvac" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>108 - Disclosure - U.S. Government Agreement, Joint Venture and Collaborations</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
        <link:usedOn>link:referenceLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.novavax.com/role/WarrantLiability" id="nvax-wl" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>110 - Disclosure - Warrant Liability</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
        <link:usedOn>link:referenceLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.novavax.com/role/WarrantLiabilityDetails" id="nvax-wld" xmlns:link="http://www.xbrl.org/2003/linkbase">
        <link:definition>41001 - Disclosure - Warrant Liability (Details)</link:definition>
        <link:usedOn>link:calculationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:labelLink</link:usedOn>
        <link:usedOn>link:referenceLink</link:usedOn>
      </link:roleType>
    </xsd:appinfo>
  </xsd:annotation>
  <xsd:import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/dei/2013-01-31" schemaLocation="http://xbrl.sec.gov/dei/2013/dei-2013-01-31.xsd" />
  <xsd:import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd" />
  <xsd:import namespace="http://www.xbrl.org/dtr/type/non-numeric" schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd" />
  <xsd:import namespace="http://www.xbrl.org/dtr/type/numeric" schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/invest/2013-01-31" schemaLocation="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd" />
  <xsd:import namespace="http://fasb.org/us-gaap/2013-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd" />
  <xsd:import namespace="http://fasb.org/us-types/2013-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2013/elts/us-types-2013-01-31.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/currency/2012-01-31" schemaLocation="http://xbrl.sec.gov/currency/2012/currency-2012-01-31.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/country/2013-01-31" schemaLocation="http://xbrl.sec.gov/country/2013/country-2013-01-31.xsd" />
  <xsd:import namespace="http://xbrl.sec.gov/stpr/2011-01-31" schemaLocation="http://xbrl.sec.gov/stpr/2011/stpr-2011-01-31.xsd" />
  <xsd:import namespace="http://www.xbrl.org/2009/role/negated" schemaLocation="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd" />
  <xsd:element name="AcquiredOutstandingShares" id="nvax_AcquiredOutstandingShares" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" />
  <xsd:element name="AcquisitionOfIsconovaAbAbstract" id="nvax_AcquisitionOfIsconovaAbAbstract" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType" />
  <xsd:element name="AcquisitionOfIsconovaAbTextBlock" id="nvax_AcquisitionOfIsconovaAbTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" />
  <xsd:element name="AdditionalTenantImprovementAllowance" id="nvax_AdditionalTenantImprovementAllowance" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="AverageSharePrice" id="nvax_AverageSharePrice" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="num:perShareItemType" />
  <xsd:element name="ClinicalTrialCostsIncurred" id="nvax_ClinicalTrialCostsIncurred" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="CommonSharesPerUnit" id="nvax_CommonSharesPerUnit" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" />
  <xsd:element name="CommonStockValueAuthorizedUnderCurrentShelfRegistrationStatement" id="nvax_CommonStockValueAuthorizedUnderCurrentShelfRegistrationStatement" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="CommonStockValueAuthorizedUnderPriorShelfRegistrationStatement" id="nvax_CommonStockValueAuthorizedUnderPriorShelfRegistrationStatement" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="ContractTerm" id="nvax_ContractTerm" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:durationItemType" />
  <xsd:element name="DepositsForAcquisitionOfPropertyAndEquipment" id="nvax_DepositsForAcquisitionOfPropertyAndEquipment" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="DocumentAndEntityInformationAbstract" id="nvax_DocumentAndEntityInformationAbstract" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType" />
  <xsd:element name="EmployeeStockPurchasePlanMember" id="nvax_EmployeeStockPurchasePlanMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="EquityMethodInvesteeOneMember" id="nvax_EquityMethodInvesteeOneMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="ExpectedClinicalTrialCosts" id="nvax_ExpectedClinicalTrialCosts" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="GovernmentContractReceivableIncrease" id="nvax_GovernmentContractReceivableIncrease" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="HhsBardaContractAwardMember" id="nvax_HhsBardaContractAwardMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="HhsBardaOptionForAdditionalPeriodMember" id="nvax_HhsBardaOptionForAdditionalPeriodMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="JointVenturePercentageOwnedByOthers" id="nvax_JointVenturePercentageOwnedByOthers" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="num:percentItemType" />
  <xsd:element name="LeasedFacilitySquareFootage" id="nvax_LeasedFacilitySquareFootage" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:integerItemType" />
  <xsd:element name="LicenseAgreementWithLgLifeSciencesLtdMember" id="nvax_LicenseAgreementWithLgLifeSciencesLtdMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="LoanAgreementFutureMinimumPaymentsDue" id="nvax_LoanAgreementFutureMinimumPaymentsDue" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="LoanAgreementFutureMinimumPaymentsDueInRollingYearFour" id="nvax_LoanAgreementFutureMinimumPaymentsDueInRollingYearFour" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="LoanAgreementFutureMinimumPaymentsDueInRollingYearThree" id="nvax_LoanAgreementFutureMinimumPaymentsDueInRollingYearThree" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo" id="nvax_LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="LoanAgreementFutureMinimumPaymentsRemainderOfFiscalYear" id="nvax_LoanAgreementFutureMinimumPaymentsRemainderOfFiscalYear" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="ManufacturingLaboratoryAndOfficeFacilityAbstract" id="nvax_ManufacturingLaboratoryAndOfficeFacilityAbstract" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType" />
  <xsd:element name="NewFacilityLeaseDisclosureTextBlock" id="nvax_NewFacilityLeaseDisclosureTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" />
  <xsd:element name="NovavaxSharesIssued" id="nvax_NovavaxSharesIssued" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:sharesItemType" />
  <xsd:element name="NumberOfAuctionRateSecuritiesIncludedInInvestments" id="nvax_NumberOfAuctionRateSecuritiesIncludedInInvestments" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:integerItemType" />
  <xsd:element name="OneNineNineFiveStockOptionPlanMember" id="nvax_OneNineNineFiveStockOptionPlanMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="OperationsAbstract" id="nvax_OperationsAbstract" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType" />
  <xsd:element name="OperationsDisclosureTextBlock" id="nvax_OperationsDisclosureTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" />
  <xsd:element name="PathVaccineSolutionsMember" id="nvax_PathVaccineSolutionsMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="PotentialProvidedFundingOfExternalClinicalDevelopmentCostsPercent" id="nvax_PotentialProvidedFundingOfExternalClinicalDevelopmentCostsPercent" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="num:percentItemType" />
  <xsd:element name="ReclassificationFromAccountsPayableToLeaseIncentivesReceived" id="nvax_ReclassificationFromAccountsPayableToLeaseIncentivesReceived" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses" id="nvax_ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses" nillable="true" xbrli:balance="debit" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="ResearchAndDevelopmentCollaboration" id="nvax_ResearchAndDevelopmentCollaboration" nillable="true" xbrli:balance="credit" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="ResearchAndDevelopmentCollaborationIncrease" id="nvax_ResearchAndDevelopmentCollaborationIncrease" nillable="true" xbrli:balance="debit" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="RoyaltyPaymentsPercentOfFutureProductSales" id="nvax_RoyaltyPaymentsPercentOfFutureProductSales" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="num:percentItemType" />
  <xsd:element name="SaleOfCommonStockDisclosureTextBlock" id="nvax_SaleOfCommonStockDisclosureTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" />
  <xsd:element name="SalesOfCommonStockAbstract" id="nvax_SalesOfCommonStockAbstract" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType" />
  <xsd:element name="ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock" id="nvax_ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" />
  <xsd:element name="SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate" id="nvax_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="num:percentItemType" />
  <xsd:element name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisePeriodFromDateOfGrant" id="nvax_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisePeriodFromDateOfGrant" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:durationItemType" />
  <xsd:element name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantDateExercisePriceMinimumPercent" id="nvax_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantDateExercisePriceMinimumPercent" nillable="true" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="num:percentItemType" />
  <xsd:element name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsMaximumTerm" id="nvax_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsMaximumTerm" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:durationItemType" />
  <xsd:element name="StockWarrantsTextBlock" id="nvax_StockWarrantsTextBlock" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:textBlockItemType" />
  <xsd:element name="TenantAllowanceInterestRate" id="nvax_TenantAllowanceInterestRate" nillable="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="num:percentItemType" />
  <xsd:element name="TenantImprovementAllowance" id="nvax_TenantImprovementAllowance" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="TwoZeroZeroFiveStockIncentivePlanMember" id="nvax_TwoZeroZeroFiveStockIncentivePlanMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
  <xsd:element name="UpfrontLicensePayment" id="nvax_UpfrontLicensePayment" nillable="true" xbrli:balance="credit" xbrli:periodType="instant" substitutionGroup="xbrli:item" type="xbrli:monetaryItemType" />
  <xsd:element name="UsGovernmentAgreementAndCollaborationsAbstract" id="nvax_UsGovernmentAgreementAndCollaborationsAbstract" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType" />
  <xsd:element name="WarrantLiabilityAbstract" id="nvax_WarrantLiabilityAbstract" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="xbrli:stringItemType" />
  <xsd:element name="WarrantsSettleableInCashMember" id="nvax_WarrantsSettleableInCashMember" nillable="true" abstract="true" xbrli:periodType="duration" substitutionGroup="xbrli:item" type="nonnum:domainItemType" />
</xsd:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>9
<FILENAME>nvax-20130630_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
<!--Created by Vintage Filings ("VF")-->
<!--produced on 2013-08-07 @ 11:25 PM-->
<link:linkbase xmlns:nvax="http://www.novavax.com/20130630" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase">
  <link:roleRef roleURI="http://www.novavax.com/role/BalanceSheets" xlink:href="nvax-20130630.xsd#nvax-bs" xlink:type="simple" />
  <link:roleRef roleURI="http://www.novavax.com/role/BalanceSheetsParenthetical" xlink:href="nvax-20130630.xsd#nvax-bsp" xlink:type="simple" />
  <link:roleRef roleURI="http://www.novavax.com/role/StatementsOfCashFlows" xlink:href="nvax-20130630.xsd#nvax-socf" xlink:type="simple" />
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>11
<FILENAME>nvax-20130630_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
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    <link:label xlink:label="lab_AssetsCurrent.158259.208082" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_AssetsCurrent.158259.208082">Total current assets</link:label>
    <link:loc xlink:label="loc_AssetsCurrentAbstract.616.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AssetsCurrentAbstract.616.11.6" xlink:to="lab_AssetsCurrentAbstract.1099.208083" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AssetsCurrentAbstract.1099.208083" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AssetsCurrentAbstract.1099.208083">Assets, Current [Abstract]</link:label>
    <link:loc xlink:label="loc_AssetsCurrentAbstract.616.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AssetsCurrentAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AssetsCurrentAbstract.616.11.7" xlink:to="lab_AssetsCurrentAbstract.158254.208084" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AssetsCurrentAbstract.158254.208084" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_AssetsCurrentAbstract.158254.208084">Current assets:</link:label>
    <link:loc xlink:label="loc_AvailableForSaleSecuritiesCurrent.6200.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AvailableForSaleSecuritiesCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AvailableForSaleSecuritiesCurrent.6200.11.6" xlink:to="lab_AvailableForSaleSecuritiesCurrent.1282.208085" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AvailableForSaleSecuritiesCurrent.1282.208085" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AvailableForSaleSecuritiesCurrent.1282.208085">Available-for-sale Securities, Current</link:label>
    <link:loc xlink:label="loc_AvailableForSaleSecuritiesCurrent.6200.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AvailableForSaleSecuritiesCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AvailableForSaleSecuritiesCurrent.6200.11.7" xlink:to="lab_AvailableForSaleSecuritiesCurrent.158483.208086" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AvailableForSaleSecuritiesCurrent.158483.208086" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_AvailableForSaleSecuritiesCurrent.158483.208086">Short-term investments available-for-sale</link:label>
    <link:loc xlink:label="loc_AvailableForSaleSecuritiesNoncurrent.6236.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AvailableForSaleSecuritiesNoncurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AvailableForSaleSecuritiesNoncurrent.6236.11.6" xlink:to="lab_AvailableForSaleSecuritiesNoncurrent.1354.208087" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AvailableForSaleSecuritiesNoncurrent.1354.208087" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AvailableForSaleSecuritiesNoncurrent.1354.208087">Available-for-sale Securities, Noncurrent</link:label>
    <link:loc xlink:label="loc_AvailableForSaleSecuritiesNoncurrent.6236.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AvailableForSaleSecuritiesNoncurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AvailableForSaleSecuritiesNoncurrent.6236.11.7" xlink:to="lab_AvailableForSaleSecuritiesNoncurrent.495160.208088" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AvailableForSaleSecuritiesNoncurrent.495160.208088" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_AvailableForSaleSecuritiesNoncurrent.495160.208088">Investments available-for-sale</link:label>
    <link:loc xlink:label="loc_CapitalLeaseObligationsCurrent.6657.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CapitalLeaseObligationsCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CapitalLeaseObligationsCurrent.6657.11.7" xlink:to="lab_CapitalLeaseObligationsCurrent.158512.208090" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CapitalLeaseObligationsCurrent.158512.208090" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CapitalLeaseObligationsCurrent.158512.208090">Current portion of capital lease</link:label>
    <link:loc xlink:label="loc_CapitalLeaseObligationsCurrent.6657.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CapitalLeaseObligationsCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CapitalLeaseObligationsCurrent.6657.11.6" xlink:to="lab_CapitalLeaseObligationsCurrent.1990.208089" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CapitalLeaseObligationsCurrent.1990.208089" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CapitalLeaseObligationsCurrent.1990.208089">Capital Lease Obligations, Current</link:label>
    <link:loc xlink:label="loc_CapitalLeaseObligationsNoncurrent.6668.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CapitalLeaseObligationsNoncurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CapitalLeaseObligationsNoncurrent.6668.11.7" xlink:to="lab_CapitalLeaseObligationsNoncurrent.158516.208092" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CapitalLeaseObligationsNoncurrent.158516.208092" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CapitalLeaseObligationsNoncurrent.158516.208092">Non-current portion of capital lease</link:label>
    <link:loc xlink:label="loc_CapitalLeaseObligationsNoncurrent.6668.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CapitalLeaseObligationsNoncurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CapitalLeaseObligationsNoncurrent.6668.11.6" xlink:to="lab_CapitalLeaseObligationsNoncurrent.1991.208091" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CapitalLeaseObligationsNoncurrent.1991.208091" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CapitalLeaseObligationsNoncurrent.1991.208091">Capital Lease Obligations, Noncurrent</link:label>
    <link:loc xlink:label="loc_CashAndCashEquivalentsAtCarryingValue.6843.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashAndCashEquivalentsAtCarryingValue.6843.11.7" xlink:to="lab_CashAndCashEquivalentsAtCarryingValue.158255.208094" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CashAndCashEquivalentsAtCarryingValue.158255.208094" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CashAndCashEquivalentsAtCarryingValue.158255.208094">Cash and cash equivalents</link:label>
    <link:loc xlink:label="loc_CashAndCashEquivalentsAtCarryingValue.6843.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashAndCashEquivalentsAtCarryingValue.6843.11.6" xlink:to="lab_CashAndCashEquivalentsAtCarryingValue.2187.208093" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CashAndCashEquivalentsAtCarryingValue.2187.208093" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CashAndCashEquivalentsAtCarryingValue.2187.208093">Cash and Cash Equivalents, at Carrying Value</link:label>
    <link:loc xlink:label="loc_CommitmentsAndContingencies.7121.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:type="locator" />
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    <link:label xlink:label="lab_CommitmentsAndContingencies.158274.208096" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CommitmentsAndContingencies.158274.208096">Commitments and contingencies</link:label>
    <link:loc xlink:label="loc_CommitmentsAndContingencies.7121.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommitmentsAndContingencies" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CommitmentsAndContingencies.7121.11.6" xlink:to="lab_CommitmentsAndContingencies.2677.208095" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CommitmentsAndContingencies.2677.208095" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CommitmentsAndContingencies.2677.208095">Commitments and Contingencies</link:label>
    <link:loc xlink:label="loc_CommonStockValue.7134.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommonStockValue" xlink:type="locator" />
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    <link:label xlink:label="lab_CommonStockValue.158277.208098" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CommonStockValue.158277.208098">Common stock, $0.01 par value, 300,000,000 shares authorized at June 30, 2013 and 200,000,000 shares authorized at December 31, 2012; and 153,165,006 shares issued and 152,709,576 shares outstanding at June 30, 2013 and 148,398,747 shares issued and 147,943,317 shares outstanding at December 31, 2012</link:label>
    <link:loc xlink:label="loc_CommonStockValue.7134.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommonStockValue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CommonStockValue.7134.11.6" xlink:to="lab_CommonStockValue.2730.208097" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CommonStockValue.2730.208097" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CommonStockValue.2730.208097">Common Stock, Value, Issued</link:label>
    <link:loc xlink:label="loc_DeferredRentCreditCurrent.7951.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredRentCreditCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredRentCreditCurrent.7951.11.7" xlink:to="lab_DeferredRentCreditCurrent.138305.208100" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredRentCreditCurrent.138305.208100" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DeferredRentCreditCurrent.138305.208100">Deferred rent</link:label>
    <link:loc xlink:label="loc_DeferredRentCreditCurrent.7951.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredRentCreditCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredRentCreditCurrent.7951.11.6" xlink:to="lab_DeferredRentCreditCurrent.3858.208099" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredRentCreditCurrent.3858.208099" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DeferredRentCreditCurrent.3858.208099">Deferred Rent Credit, Current</link:label>
    <link:loc xlink:label="loc_DeferredRentCreditNoncurrent.7913.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredRentCreditNoncurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DeferredRentCreditNoncurrent.7913.11.7" xlink:to="lab_DeferredRentCreditNoncurrent.158518.208102" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DeferredRentCreditNoncurrent.158518.208102" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DeferredRentCreditNoncurrent.158518.208102">Deferred rent</link:label>
    <link:loc xlink:label="loc_DeferredRentCreditNoncurrent.7913.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredRentCreditNoncurrent" xlink:type="locator" />
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    <link:label xlink:label="lab_DeferredRentCreditNoncurrent.3813.208101" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DeferredRentCreditNoncurrent.3813.208101">Deferred Rent Credit, Noncurrent</link:label>
    <link:loc xlink:label="loc_DeferredRevenueCurrent.7937.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredRevenueCurrent" xlink:type="locator" />
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    <link:label xlink:label="lab_DeferredRevenueCurrent.158511.208104" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DeferredRevenueCurrent.158511.208104">Deferred revenue</link:label>
    <link:loc xlink:label="loc_DeferredRevenueCurrent.7937.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredRevenueCurrent" xlink:type="locator" />
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    <link:label xlink:label="lab_DeferredRevenueCurrent.3980.208103" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DeferredRevenueCurrent.3980.208103">Deferred Revenue, Current</link:label>
    <link:loc xlink:label="loc_DeferredRevenueNoncurrent.7950.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredRevenueNoncurrent" xlink:type="locator" />
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    <link:label xlink:label="lab_DeferredRevenueNoncurrent.160442.208106" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DeferredRevenueNoncurrent.160442.208106">Deferred revenue</link:label>
    <link:loc xlink:label="loc_DeferredRevenueNoncurrent.7950.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DeferredRevenueNoncurrent" xlink:type="locator" />
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    <link:label xlink:label="lab_DeferredRevenueNoncurrent.3963.208105" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DeferredRevenueNoncurrent.3963.208105">Deferred Revenue, Noncurrent</link:label>
    <link:loc xlink:label="loc_DerivativeLiabilitiesCurrent.8440.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DerivativeLiabilitiesCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DerivativeLiabilitiesCurrent.8440.11.7" xlink:to="lab_DerivativeLiabilitiesCurrent.171371.208108" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DerivativeLiabilitiesCurrent.171371.208108" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DerivativeLiabilitiesCurrent.171371.208108">Warrant liability</link:label>
    <link:loc xlink:label="loc_DerivativeLiabilitiesCurrent.8440.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DerivativeLiabilitiesCurrent" xlink:type="locator" />
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    <link:label xlink:label="lab_DerivativeLiabilitiesCurrent.4511.208107" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DerivativeLiabilitiesCurrent.4511.208107">Derivative Liabilities, Current</link:label>
    <link:loc xlink:label="loc_Goodwill.10732.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_Goodwill" xlink:type="locator" />
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    <link:label xlink:label="lab_Goodwill.158505.208110" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_Goodwill.158505.208110">Goodwill</link:label>
    <link:loc xlink:label="loc_Goodwill.10732.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_Goodwill" xlink:type="locator" />
    <link:labelArc xlink:from="loc_Goodwill.10732.11.6" xlink:to="lab_Goodwill.7915.208109" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_Goodwill.7915.208109" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_Goodwill.7915.208109">Goodwill</link:label>
    <link:loc xlink:label="loc_GovernmentContractReceivableUnbilledAmounts.10756.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_GovernmentContractReceivableUnbilledAmounts" xlink:type="locator" />
    <link:labelArc xlink:from="loc_GovernmentContractReceivableUnbilledAmounts.10756.11.7" xlink:to="lab_GovernmentContractReceivableUnbilledAmounts.158441.208112" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_GovernmentContractReceivableUnbilledAmounts.158441.208112" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_GovernmentContractReceivableUnbilledAmounts.158441.208112">Unbilled receivables</link:label>
    <link:loc xlink:label="loc_GovernmentContractReceivableUnbilledAmounts.10756.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_GovernmentContractReceivableUnbilledAmounts" xlink:type="locator" />
    <link:labelArc xlink:from="loc_GovernmentContractReceivableUnbilledAmounts.10756.11.6" xlink:to="lab_GovernmentContractReceivableUnbilledAmounts.7956.208111" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_GovernmentContractReceivableUnbilledAmounts.7956.208111" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_GovernmentContractReceivableUnbilledAmounts.7956.208111">Government Contract Receivable, Unbilled Amounts</link:label>
    <link:loc xlink:label="loc_Liabilities.12166.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_Liabilities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_Liabilities.12166.11.6" xlink:to="lab_Liabilities.10148.208113" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_Liabilities.10148.208113" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_Liabilities.10148.208113">Liabilities</link:label>
    <link:loc xlink:label="loc_Liabilities.12166.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_Liabilities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_Liabilities.12166.11.9" xlink:to="lab_Liabilities.158273.208114" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_Liabilities.158273.208114" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_Liabilities.158273.208114">Total liabilities</link:label>
    <link:loc xlink:label="loc_LiabilitiesAndStockholdersEquity.12135.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LiabilitiesAndStockholdersEquity.12135.11.6" xlink:to="lab_LiabilitiesAndStockholdersEquity.10196.208115" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LiabilitiesAndStockholdersEquity.10196.208115" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LiabilitiesAndStockholdersEquity.10196.208115">Liabilities and Equity</link:label>
    <link:loc xlink:label="loc_LiabilitiesAndStockholdersEquity.12135.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LiabilitiesAndStockholdersEquity.12135.11.9" xlink:to="lab_LiabilitiesAndStockholdersEquity.158281.208116" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LiabilitiesAndStockholdersEquity.158281.208116" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_LiabilitiesAndStockholdersEquity.158281.208116">Total liabilities and stockholders' equity</link:label>
    <link:loc xlink:label="loc_LiabilitiesAndStockholdersEquityAbstract.3066.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LiabilitiesAndStockholdersEquityAbstract.3066.11.6" xlink:to="lab_LiabilitiesAndStockholdersEquityAbstract.10173.208117" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LiabilitiesAndStockholdersEquityAbstract.10173.208117" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LiabilitiesAndStockholdersEquityAbstract.10173.208117">Liabilities and Equity [Abstract]</link:label>
    <link:loc xlink:label="loc_LiabilitiesAndStockholdersEquityAbstract.3066.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LiabilitiesAndStockholdersEquityAbstract.3066.11.7" xlink:to="lab_LiabilitiesAndStockholdersEquityAbstract.158266.208118" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LiabilitiesAndStockholdersEquityAbstract.158266.208118" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LiabilitiesAndStockholdersEquityAbstract.158266.208118">LIABILITIES AND STOCKHOLDERS' EQUITY</link:label>
    <link:loc xlink:label="loc_LiabilitiesCurrent.12126.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LiabilitiesCurrent.12126.11.6" xlink:to="lab_LiabilitiesCurrent.10094.208119" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LiabilitiesCurrent.10094.208119" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LiabilitiesCurrent.10094.208119">Liabilities, Current</link:label>
    <link:loc xlink:label="loc_LiabilitiesCurrent.12126.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LiabilitiesCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LiabilitiesCurrent.12126.11.9" xlink:to="lab_LiabilitiesCurrent.158271.208120" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LiabilitiesCurrent.158271.208120" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_LiabilitiesCurrent.158271.208120">Total current liabilities</link:label>
    <link:loc xlink:label="loc_LiabilitiesCurrentAbstract.3060.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LiabilitiesCurrentAbstract.3060.11.6" xlink:to="lab_LiabilitiesCurrentAbstract.10147.208121" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LiabilitiesCurrentAbstract.10147.208121" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LiabilitiesCurrentAbstract.10147.208121">Liabilities, Current [Abstract]</link:label>
    <link:loc xlink:label="loc_LiabilitiesCurrentAbstract.3060.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LiabilitiesCurrentAbstract.3060.11.7" xlink:to="lab_LiabilitiesCurrentAbstract.158267.208122" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LiabilitiesCurrentAbstract.158267.208122" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LiabilitiesCurrentAbstract.158267.208122">Current liabilities:</link:label>
    <link:loc xlink:label="loc_LongTermNotesPayable.12765.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongTermNotesPayable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LongTermNotesPayable.12765.11.6" xlink:to="lab_LongTermNotesPayable.11006.208123" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LongTermNotesPayable.11006.208123" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LongTermNotesPayable.11006.208123">Notes Payable, Noncurrent</link:label>
    <link:loc xlink:label="loc_LongTermNotesPayable.12765.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LongTermNotesPayable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LongTermNotesPayable.12765.11.7" xlink:to="lab_LongTermNotesPayable.158517.208124" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LongTermNotesPayable.158517.208124" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LongTermNotesPayable.158517.208124">Non-current portion of notes payable</link:label>
    <link:loc xlink:label="loc_NotesPayableCurrent.13431.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NotesPayableCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NotesPayableCurrent.13431.11.6" xlink:to="lab_NotesPayableCurrent.12132.208125" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NotesPayableCurrent.12132.208125" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_NotesPayableCurrent.12132.208125">Notes Payable, Current</link:label>
    <link:loc xlink:label="loc_NotesPayableCurrent.13431.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NotesPayableCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NotesPayableCurrent.13431.11.7" xlink:to="lab_NotesPayableCurrent.158270.208126" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NotesPayableCurrent.158270.208126" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_NotesPayableCurrent.158270.208126">Current portion of notes payable</link:label>
    <link:loc xlink:label="loc_OtherAssetsCurrent.13853.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherAssetsCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OtherAssetsCurrent.13853.11.6" xlink:to="lab_OtherAssetsCurrent.12521.208127" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OtherAssetsCurrent.12521.208127" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OtherAssetsCurrent.12521.208127">Other Assets, Current</link:label>
    <link:loc xlink:label="loc_OtherAssetsCurrent.13853.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherAssetsCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OtherAssetsCurrent.13853.11.7" xlink:to="lab_OtherAssetsCurrent.158486.208128" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OtherAssetsCurrent.158486.208128" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OtherAssetsCurrent.158486.208128">Other current assets</link:label>
    <link:loc xlink:label="loc_OtherAssetsNoncurrent.13824.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OtherAssetsNoncurrent.13824.11.6" xlink:to="lab_OtherAssetsNoncurrent.12607.208129" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OtherAssetsNoncurrent.12607.208129" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OtherAssetsNoncurrent.12607.208129">Other Assets, Noncurrent</link:label>
    <link:loc xlink:label="loc_OtherAssetsNoncurrent.13824.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherAssetsNoncurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OtherAssetsNoncurrent.13824.11.7" xlink:to="lab_OtherAssetsNoncurrent.158504.208130" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OtherAssetsNoncurrent.158504.208130" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OtherAssetsNoncurrent.158504.208130">Other non-current assets</link:label>
    <link:loc xlink:label="loc_PreferredStockValue.14687.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PreferredStockValue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PreferredStockValue.14687.11.6" xlink:to="lab_PreferredStockValue.14020.208131" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PreferredStockValue.14020.208131" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PreferredStockValue.14020.208131">Preferred Stock, Value, Issued</link:label>
    <link:loc xlink:label="loc_PreferredStockValue.14687.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PreferredStockValue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PreferredStockValue.14687.11.7" xlink:to="lab_PreferredStockValue.158276.208132" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PreferredStockValue.158276.208132" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_PreferredStockValue.158276.208132">Preferred stock, $0.01 par value, 2,000,000 shares authorized; no shares issued and outstanding</link:label>
    <link:loc xlink:label="loc_PrepaidExpenseCurrent.14768.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PrepaidExpenseCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PrepaidExpenseCurrent.14768.11.6" xlink:to="lab_PrepaidExpenseCurrent.14227.208133" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PrepaidExpenseCurrent.14227.208133" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PrepaidExpenseCurrent.14227.208133">Prepaid Expense, Current</link:label>
    <link:loc xlink:label="loc_PrepaidExpenseCurrent.14768.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PrepaidExpenseCurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PrepaidExpenseCurrent.14768.11.7" xlink:to="lab_PrepaidExpenseCurrent.158258.208134" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PrepaidExpenseCurrent.158258.208134" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_PrepaidExpenseCurrent.158258.208134">Prepaid expenses</link:label>
    <link:loc xlink:label="loc_PropertyPlantAndEquipmentNet.15211.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PropertyPlantAndEquipmentNet.15211.11.6" xlink:to="lab_PropertyPlantAndEquipmentNet.14913.208135" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PropertyPlantAndEquipmentNet.14913.208135" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PropertyPlantAndEquipmentNet.14913.208135">Property, Plant and Equipment, Net</link:label>
    <link:loc xlink:label="loc_PropertyPlantAndEquipmentNet.15211.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PropertyPlantAndEquipmentNet.15211.11.7" xlink:to="lab_PropertyPlantAndEquipmentNet.158260.208136" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PropertyPlantAndEquipmentNet.158260.208136" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_PropertyPlantAndEquipmentNet.158260.208136">Property and equipment, net</link:label>
    <link:loc xlink:label="loc_RestrictedCashAndCashEquivalentsAtCarryingValue.15928.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RestrictedCashAndCashEquivalentsAtCarryingValue.15928.11.7" xlink:to="lab_RestrictedCashAndCashEquivalentsAtCarryingValue.158485.208138" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RestrictedCashAndCashEquivalentsAtCarryingValue.158485.208138" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_RestrictedCashAndCashEquivalentsAtCarryingValue.158485.208138">Restricted cash</link:label>
    <link:loc xlink:label="loc_RestrictedCashAndCashEquivalentsAtCarryingValue.15928.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RestrictedCashAndCashEquivalentsAtCarryingValue.15928.11.6" xlink:to="lab_RestrictedCashAndCashEquivalentsAtCarryingValue.15967.208137" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_RestrictedCashAndCashEquivalentsNoncurrent.15932.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" xlink:type="locator" />
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    <link:label xlink:label="lab_RestrictedCashAndCashEquivalentsNoncurrent.158506.208140" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_RestrictedCashAndCashEquivalentsNoncurrent.158506.208140">Restricted cash</link:label>
    <link:loc xlink:label="loc_RestrictedCashAndCashEquivalentsNoncurrent.15932.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RestrictedCashAndCashEquivalentsNoncurrent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RestrictedCashAndCashEquivalentsNoncurrent.15932.11.6" xlink:to="lab_RestrictedCashAndCashEquivalentsNoncurrent.15973.208139" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RestrictedCashAndCashEquivalentsNoncurrent.15973.208139" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RestrictedCashAndCashEquivalentsNoncurrent.15973.208139">Restricted Cash and Cash Equivalents, Noncurrent</link:label>
    <link:loc xlink:label="loc_RetainedEarningsAccumulatedDeficit.16058.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RetainedEarningsAccumulatedDeficit.16058.11.7" xlink:to="lab_RetainedEarningsAccumulatedDeficit.158279.208142" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RetainedEarningsAccumulatedDeficit.158279.208142" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_RetainedEarningsAccumulatedDeficit.158279.208142">Accumulated deficit</link:label>
    <link:loc xlink:label="loc_RetainedEarningsAccumulatedDeficit.16058.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RetainedEarningsAccumulatedDeficit.16058.11.6" xlink:to="lab_RetainedEarningsAccumulatedDeficit.16146.208141" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RetainedEarningsAccumulatedDeficit.16146.208141" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RetainedEarningsAccumulatedDeficit.16146.208141">Retained Earnings (Accumulated Deficit)</link:label>
    <link:loc xlink:label="loc_StatementOfFinancialPositionAbstract.5171.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_StatementOfFinancialPositionAbstract.5171.11.6" xlink:to="lab_StatementOfFinancialPositionAbstract.158252.208143" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_StatementOfFinancialPositionAbstract.158252.208143" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_StatementOfFinancialPositionAbstract.158252.208143">BALANCE SHEETS [Abstract]</link:label>
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    <link:labelArc xlink:from="loc_StockholdersEquity.17302.11.9" xlink:to="lab_StockholdersEquity.158280.208145" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_StockholdersEquity.158280.208145" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_StockholdersEquity.158280.208145">Total stockholders' equity</link:label>
    <link:loc xlink:label="loc_StockholdersEquity.17302.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StockholdersEquity" xlink:type="locator" />
    <link:labelArc xlink:from="loc_StockholdersEquity.17302.11.6" xlink:to="lab_StockholdersEquity.18029.208144" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_StockholdersEquity.18029.208144" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_StockholdersEquity.18029.208144">Stockholders' Equity Attributable to Parent</link:label>
    <link:loc xlink:label="loc_StockholdersEquityAbstract.5197.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_StockholdersEquityAbstract.5197.11.7" xlink:to="lab_StockholdersEquityAbstract.158275.208147" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_StockholdersEquityAbstract.158275.208147" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_StockholdersEquityAbstract.158275.208147">Stockholders' equity:</link:label>
    <link:loc xlink:label="loc_StockholdersEquityAbstract.5197.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StockholdersEquityAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_StockholdersEquityAbstract.5197.11.6" xlink:to="lab_StockholdersEquityAbstract.18017.208146" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_StockholdersEquityAbstract.18017.208146" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_StockholdersEquityAbstract.18017.208146">Stockholders' Equity Attributable to Parent [Abstract]</link:label>
    <link:loc xlink:label="loc_TreasuryStockValue.17716.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_TreasuryStockValue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_TreasuryStockValue.17716.11.6" xlink:to="lab_TreasuryStockValue.18646.208148" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_TreasuryStockValue.18646.208148" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_TreasuryStockValue.18646.208148">Treasury Stock, Value</link:label>
    <link:loc xlink:label="loc_TreasuryStockValue.17716.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_TreasuryStockValue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_TreasuryStockValue.17716.11.52" xlink:to="lab_TreasuryStockValue42.158520.208149" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_TreasuryStockValue42.158520.208149" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_TreasuryStockValue42.158520.208149">Treasury stock, 455,430 shares, cost basis</link:label>
    <link:loc xlink:label="loc_CommonStockParOrStatedValuePerShare.7131.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CommonStockParOrStatedValuePerShare.7131.11.6" xlink:to="lab_CommonStockParOrStatedValuePerShare.2741.208150" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CommonStockParOrStatedValuePerShare.2741.208150" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CommonStockParOrStatedValuePerShare.2741.208150">Common Stock, Par or Stated Value Per Share</link:label>
    <link:loc xlink:label="loc_CommonStockParOrStatedValuePerShare.7131.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommonStockParOrStatedValuePerShare" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CommonStockParOrStatedValuePerShare.7131.11.7" xlink:to="lab_CommonStockParOrStatedValuePerShare7.158287.208151" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CommonStockParOrStatedValuePerShare7.158287.208151" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CommonStockParOrStatedValuePerShare7.158287.208151">Common stock, par value per share</link:label>
    <link:loc xlink:label="loc_CommonStockSharesAuthorized.7144.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CommonStockSharesAuthorized.7144.11.6" xlink:to="lab_CommonStockSharesAuthorized.2742.208152" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CommonStockSharesAuthorized.2742.208152" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CommonStockSharesAuthorized.2742.208152">Common Stock, Shares Authorized</link:label>
    <link:loc xlink:label="loc_CommonStockSharesAuthorized.7144.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommonStockSharesAuthorized" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CommonStockSharesAuthorized.7144.11.7" xlink:to="lab_CommonStockSharesAuthorized7.158288.208153" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CommonStockSharesAuthorized7.158288.208153" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CommonStockSharesAuthorized7.158288.208153">Common stock, shares authorized</link:label>
    <link:loc xlink:label="loc_CommonStockSharesIssued.7136.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CommonStockSharesIssued.7136.11.6" xlink:to="lab_CommonStockSharesIssued.2734.208154" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CommonStockSharesIssued.2734.208154" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CommonStockSharesIssued.2734.208154">Common Stock, Shares, Issued</link:label>
    <link:loc xlink:label="loc_CommonStockSharesIssued.7136.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommonStockSharesIssued" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CommonStockSharesIssued.7136.11.7" xlink:to="lab_CommonStockSharesIssued7.158289.208155" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CommonStockSharesIssued7.158289.208155" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CommonStockSharesIssued7.158289.208155">Common stock, shares issued</link:label>
    <link:loc xlink:label="loc_CommonStockSharesOutstanding.7164.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CommonStockSharesOutstanding.7164.11.7" xlink:to="lab_CommonStockSharesOutstanding.158290.208157" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CommonStockSharesOutstanding.158290.208157" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CommonStockSharesOutstanding.158290.208157">Common stock, shares outstanding</link:label>
    <link:loc xlink:label="loc_CommonStockSharesOutstanding.7164.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CommonStockSharesOutstanding" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CommonStockSharesOutstanding.7164.11.6" xlink:to="lab_CommonStockSharesOutstanding.2714.208156" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CommonStockSharesOutstanding.2714.208156" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CommonStockSharesOutstanding.2714.208156">Common Stock, Shares, Outstanding</link:label>
    <link:loc xlink:label="loc_PreferredStockParOrStatedValuePerShare.14668.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PreferredStockParOrStatedValuePerShare.14668.11.6" xlink:to="lab_PreferredStockParOrStatedValuePerShare.14088.208158" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PreferredStockParOrStatedValuePerShare.14088.208158" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PreferredStockParOrStatedValuePerShare.14088.208158">Preferred Stock, Par or Stated Value Per Share</link:label>
    <link:loc xlink:label="loc_PreferredStockParOrStatedValuePerShare.14668.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PreferredStockParOrStatedValuePerShare.14668.11.7" xlink:to="lab_PreferredStockParOrStatedValuePerShare.158283.208159" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PreferredStockParOrStatedValuePerShare.158283.208159" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_PreferredStockParOrStatedValuePerShare.158283.208159">Preferred stock, par or stated value per share</link:label>
    <link:loc xlink:label="loc_PreferredStockSharesAuthorized.14701.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PreferredStockSharesAuthorized.14701.11.6" xlink:to="lab_PreferredStockSharesAuthorized.14024.208160" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PreferredStockSharesAuthorized.14024.208160" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PreferredStockSharesAuthorized.14024.208160">Preferred Stock, Shares Authorized</link:label>
    <link:loc xlink:label="loc_PreferredStockSharesAuthorized.14701.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PreferredStockSharesAuthorized" xlink:type="locator" />
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    <link:label xlink:label="lab_PreferredStockSharesAuthorized.158284.208161" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_PreferredStockSharesAuthorized.158284.208161">Preferred stock, shares authorized</link:label>
    <link:loc xlink:label="loc_PreferredStockSharesIssued.14694.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:type="locator" />
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    <link:label xlink:label="lab_PreferredStockSharesIssued.14076.208162" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PreferredStockSharesIssued.14076.208162">Preferred Stock, Shares Issued</link:label>
    <link:loc xlink:label="loc_PreferredStockSharesIssued.14694.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PreferredStockSharesIssued" xlink:type="locator" />
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    <link:label xlink:label="lab_PreferredStockSharesIssued.158285.208163" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_PreferredStockSharesIssued.158285.208163">Preferred stock, shares issued</link:label>
    <link:loc xlink:label="loc_PreferredStockSharesOutstanding.14710.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:type="locator" />
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    <link:label xlink:label="lab_PreferredStockSharesOutstanding.14104.208164" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PreferredStockSharesOutstanding.14104.208164">Preferred Stock, Shares Outstanding</link:label>
    <link:loc xlink:label="loc_PreferredStockSharesOutstanding.14710.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PreferredStockSharesOutstanding" xlink:type="locator" />
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    <link:label xlink:label="lab_PreferredStockSharesOutstanding.158286.208165" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_PreferredStockSharesOutstanding.158286.208165">Preferred stock, shares outstanding</link:label>
    <link:loc xlink:label="loc_TreasuryStockShares.17707.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_TreasuryStockShares" xlink:type="locator" />
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    <link:loc xlink:label="loc_CapitalExpendituresIncurredButNotYetPaid.6683.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:type="locator" />
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    <link:loc xlink:label="loc_CapitalExpendituresIncurredButNotYetPaid.6683.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CapitalExpendituresIncurredButNotYetPaid" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CapitalExpendituresIncurredButNotYetPaid.6683.11.6" xlink:to="lab_CapitalExpendituresIncurredButNotYetPaid.1947.208215" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_CashAndCashEquivalentsAtCarryingValue.6843.11.10" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashAndCashEquivalentsAtCarryingValue.6843.11.10" xlink:to="lab_CashAndCashEquivalentsAtCarryingValue.158342.208217" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_CashAndCashEquivalentsAtCarryingValue.6843.11.11" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashAndCashEquivalentsAtCarryingValue.6843.11.11" xlink:to="lab_CashAndCashEquivalentsAtCarryingValue.158343.208218" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CashAndCashEquivalentsAtCarryingValue.158343.208218" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US" id="lab_CashAndCashEquivalentsAtCarryingValue.158343.208218">Cash and cash equivalents at end of period</link:label>
    <link:loc xlink:label="loc_CashAndCashEquivalentsPeriodIncreaseDecrease.6834.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashAndCashEquivalentsPeriodIncreaseDecrease.6834.11.9" xlink:to="lab_CashAndCashEquivalentsPeriodIncreaseDecrease.158341.208220" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CashAndCashEquivalentsPeriodIncreaseDecrease.158341.208220" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_CashAndCashEquivalentsPeriodIncreaseDecrease.158341.208220">Net (decrease) increase in cash and cash equivalents</link:label>
    <link:loc xlink:label="loc_CashAndCashEquivalentsPeriodIncreaseDecrease.6834.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashAndCashEquivalentsPeriodIncreaseDecrease.6834.11.6" xlink:to="lab_CashAndCashEquivalentsPeriodIncreaseDecrease.2245.208219" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CashAndCashEquivalentsPeriodIncreaseDecrease.2245.208219" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CashAndCashEquivalentsPeriodIncreaseDecrease.2245.208219">Cash and Cash Equivalents, Period Increase (Decrease)</link:label>
    <link:loc xlink:label="loc_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract.944.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract.944.11.7" xlink:to="lab_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract.158347.208222" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract.944.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract.944.11.6" xlink:to="lab_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract.2287.208221" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract.2287.208221" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract.2287.208221">Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]</link:label>
    <link:loc xlink:label="loc_DepositsForAcquisitionOfPropertyAndEquipment.23925.11.6" xlink:href="nvax-20130630.xsd#nvax_DepositsForAcquisitionOfPropertyAndEquipment" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DepositsForAcquisitionOfPropertyAndEquipment.23925.11.6" xlink:to="lab_DepositsForAcquisitionOfPropertyAndEquipment.158668.208223" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DepositsForAcquisitionOfPropertyAndEquipment.158668.208223" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DepositsForAcquisitionOfPropertyAndEquipment.158668.208223">Deposits For Acquisition Of Property And Equipment</link:label>
    <link:loc xlink:label="loc_DepositsForAcquisitionOfPropertyAndEquipment.23925.11.12" xlink:href="nvax-20130630.xsd#nvax_DepositsForAcquisitionOfPropertyAndEquipment" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DepositsForAcquisitionOfPropertyAndEquipment.23925.11.12" xlink:to="lab_DepositsForAcquisitionOfPropertyAndEquipment.158669.208225" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DepositsForAcquisitionOfPropertyAndEquipment.158669.208225" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_DepositsForAcquisitionOfPropertyAndEquipment.158669.208225">Deposits For Acquisition Of Property And Equipment</link:label>
    <link:loc xlink:label="loc_DepositsForAcquisitionOfPropertyAndEquipment.23925.11.7" xlink:href="nvax-20130630.xsd#nvax_DepositsForAcquisitionOfPropertyAndEquipment" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DepositsForAcquisitionOfPropertyAndEquipment.23925.11.7" xlink:to="lab_DepositsForAcquisitionOfPropertyAndEquipment.158670.208224" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DepositsForAcquisitionOfPropertyAndEquipment.158670.208224" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DepositsForAcquisitionOfPropertyAndEquipment.158670.208224">Deposit applied towards the purchase of laboratory equipment</link:label>
    <link:loc xlink:label="loc_DepreciationAndAmortization.8349.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DepreciationAndAmortization.8349.11.7" xlink:to="lab_DepreciationAndAmortization.158317.208227" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DepreciationAndAmortization.158317.208227" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DepreciationAndAmortization.158317.208227">Depreciation and amortization</link:label>
    <link:loc xlink:label="loc_DepreciationAndAmortization.8349.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DepreciationAndAmortization" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DepreciationAndAmortization.8349.11.6" xlink:to="lab_DepreciationAndAmortization.4491.208226" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DepreciationAndAmortization.4491.208226" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DepreciationAndAmortization.4491.208226">Depreciation, Depletion and Amortization, Nonproduction</link:label>
    <link:loc xlink:label="loc_GainLossOnDerivativeInstrumentsNetPretax.10572.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_GainLossOnDerivativeInstrumentsNetPretax" xlink:type="locator" />
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    <link:loc xlink:label="loc_GainLossOnDerivativeInstrumentsNetPretax.10572.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_GainLossOnDerivativeInstrumentsNetPretax" xlink:type="locator" />
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    <link:loc xlink:label="loc_GainLossOnSaleOfPropertyPlantEquipment.10640.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_GainLossOnSaleOfPropertyPlantEquipment" xlink:type="locator" />
    <link:labelArc xlink:from="loc_GainLossOnSaleOfPropertyPlantEquipment.10640.11.6" xlink:to="lab_GainLossOnSaleOfPropertyPlantEquipment.7730.208230" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_GainLossOnSaleOfPropertyPlantEquipment.7730.208230" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_GainLossOnSaleOfPropertyPlantEquipment.7730.208230">Gain (Loss) on Sale of Property Plant Equipment</link:label>
    <link:loc xlink:label="loc_GainLossOnSaleOfPropertyPlantEquipment.10640.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_GainLossOnSaleOfPropertyPlantEquipment" xlink:type="locator" />
    <link:labelArc xlink:from="loc_GainLossOnSaleOfPropertyPlantEquipment.10640.11.52" xlink:to="lab_GainLossOnSaleOfPropertyPlantEquipment42.158319.208231" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_GainLossOnSaleOfPropertyPlantEquipment42.158319.208231" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_GainLossOnSaleOfPropertyPlantEquipment42.158319.208231">Gain on disposal of property and equipment</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities.11306.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities.11306.11.7" xlink:to="lab_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities.158325.208233" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities.11306.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities.11306.11.6" xlink:to="lab_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities.8810.208232" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_IncreaseDecreaseInAccountsReceivable.11237.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInAccountsReceivable.11237.11.6" xlink:to="lab_IncreaseDecreaseInAccountsReceivable.8785.208234" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInAccountsReceivable.8785.208234" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInAccountsReceivable.8785.208234">Increase (Decrease) in Accounts Receivable</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInAccountsReceivable.11237.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInAccountsReceivable.11237.11.52" xlink:to="lab_IncreaseDecreaseInAccountsReceivable42.158321.208235" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInAccountsReceivable42.158321.208235" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInAccountsReceivable42.158321.208235">Accounts receivables</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInDeferredRevenue.11341.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInDeferredRevenue.11341.11.7" xlink:to="lab_IncreaseDecreaseInDeferredRevenue.158326.208237" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInDeferredRevenue.158326.208237" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInDeferredRevenue.158326.208237">Deferred revenue</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInDeferredRevenue.11341.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInDeferredRevenue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInDeferredRevenue.11341.11.6" xlink:to="lab_IncreaseDecreaseInDeferredRevenue.8782.208236" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInDeferredRevenue.8782.208236" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInDeferredRevenue.8782.208236">Increase (Decrease) in Deferred Revenue</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInOperatingCapitalAbstract.2736.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInOperatingCapitalAbstract.2736.11.7" xlink:to="lab_IncreaseDecreaseInOperatingCapitalAbstract.158320.208239" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInOperatingCapitalAbstract.158320.208239" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInOperatingCapitalAbstract.158320.208239">Changes in operating assets and liabilities:</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInOperatingCapitalAbstract.2736.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInOperatingCapitalAbstract.2736.11.6" xlink:to="lab_IncreaseDecreaseInOperatingCapitalAbstract.8850.208238" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInOperatingCapitalAbstract.8850.208238" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInOperatingCapitalAbstract.8850.208238">Increase (Decrease) in Operating Capital [Abstract]</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInOtherNoncurrentLiabilities.11304.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInOtherNoncurrentLiabilities.11304.11.7" xlink:to="lab_IncreaseDecreaseInOtherNoncurrentLiabilities.158688.208241" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInOtherNoncurrentLiabilities.158688.208241" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInOtherNoncurrentLiabilities.158688.208241">Lease incentives received</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInOtherNoncurrentLiabilities.11304.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInOtherNoncurrentLiabilities.11304.11.6" xlink:to="lab_IncreaseDecreaseInOtherNoncurrentLiabilities.8781.208240" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInOtherNoncurrentLiabilities.8781.208240" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInOtherNoncurrentLiabilities.8781.208240">Increase (Decrease) in Other Noncurrent Liabilities</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets.11432.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets.11432.11.6" xlink:to="lab_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets.8897.208242" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets.8897.208242" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets.8897.208242">Increase (Decrease) in Prepaid Expense and Other Assets</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets.11432.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets.11432.11.52" xlink:to="lab_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets42.158323.208243" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets42.158323.208243" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets42.158323.208243">Prepaid expenses and other assets</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInRestrictedCash.11462.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInRestrictedCash" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInRestrictedCash.11462.11.52" xlink:to="lab_IncreaseDecreaseInRestrictedCash.495168.208245" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInRestrictedCash.495168.208245" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInRestrictedCash.495168.208245">Restricted cash</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInRestrictedCash.11462.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInRestrictedCash" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInRestrictedCash.11462.11.6" xlink:to="lab_IncreaseDecreaseInRestrictedCash.9005.208244" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInRestrictedCash.9005.208244" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInRestrictedCash.9005.208244">Increase (Decrease) in Restricted Cash</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInUnbilledReceivables.11471.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInUnbilledReceivables" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInUnbilledReceivables.11471.11.52" xlink:to="lab_IncreaseDecreaseInUnbilledReceivables.158661.208247" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInUnbilledReceivables.158661.208247" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInUnbilledReceivables.158661.208247">Unbilled receivables</link:label>
    <link:loc xlink:label="loc_IncreaseDecreaseInUnbilledReceivables.11471.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncreaseDecreaseInUnbilledReceivables" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncreaseDecreaseInUnbilledReceivables.11471.11.6" xlink:to="lab_IncreaseDecreaseInUnbilledReceivables.9010.208246" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_IncreaseDecreaseInUnbilledReceivables.9010.208246" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_IncreaseDecreaseInUnbilledReceivables.9010.208246">Increase (Decrease) in Unbilled Receivables</link:label>
    <link:loc xlink:label="loc_InterestPaid.11757.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InterestPaid" xlink:type="locator" />
    <link:labelArc xlink:from="loc_InterestPaid.11757.11.7" xlink:to="lab_InterestPaid.158345.208249" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_InterestPaid.158345.208249" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_InterestPaid.158345.208249">Cash payments of interest</link:label>
    <link:loc xlink:label="loc_InterestPaid.11757.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InterestPaid" xlink:type="locator" />
    <link:labelArc xlink:from="loc_InterestPaid.11757.11.6" xlink:to="lab_InterestPaid.9537.208248" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_InterestPaid.9537.208248" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_InterestPaid.9537.208248">Interest Paid</link:label>
    <link:loc xlink:label="loc_NetCashProvidedByUsedInFinancingActivities.13253.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetCashProvidedByUsedInFinancingActivities.13253.11.6" xlink:to="lab_NetCashProvidedByUsedInFinancingActivities.11796.208250" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NetCashProvidedByUsedInFinancingActivities.11796.208250" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_NetCashProvidedByUsedInFinancingActivities.11796.208250">Net Cash Provided by (Used in) Financing Activities</link:label>
    <link:loc xlink:label="loc_NetCashProvidedByUsedInFinancingActivities.13253.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetCashProvidedByUsedInFinancingActivities.13253.11.9" xlink:to="lab_NetCashProvidedByUsedInFinancingActivities.158331.208251" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NetCashProvidedByUsedInFinancingActivities.158331.208251" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_NetCashProvidedByUsedInFinancingActivities.158331.208251">Net cash provided by financing activities</link:label>
    <link:loc xlink:label="loc_NetCashProvidedByUsedInFinancingActivitiesAbstract.3499.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetCashProvidedByUsedInFinancingActivitiesAbstract.3499.11.6" xlink:to="lab_NetCashProvidedByUsedInFinancingActivitiesAbstract.11763.208252" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NetCashProvidedByUsedInFinancingActivitiesAbstract.11763.208252" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_NetCashProvidedByUsedInFinancingActivitiesAbstract.11763.208252">Net Cash Provided by (Used in) Financing Activities [Abstract]</link:label>
    <link:loc xlink:label="loc_NetCashProvidedByUsedInFinancingActivitiesAbstract.3499.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetCashProvidedByUsedInFinancingActivitiesAbstract.3499.11.7" xlink:to="lab_NetCashProvidedByUsedInFinancingActivitiesAbstract.158339.208253" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NetCashProvidedByUsedInFinancingActivitiesAbstract.158339.208253" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_NetCashProvidedByUsedInFinancingActivitiesAbstract.158339.208253">Financing Activities:</link:label>
    <link:loc xlink:label="loc_NetCashProvidedByUsedInInvestingActivities.13246.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetCashProvidedByUsedInInvestingActivities.13246.11.6" xlink:to="lab_NetCashProvidedByUsedInInvestingActivities.11776.208254" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NetCashProvidedByUsedInInvestingActivities.11776.208254" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_NetCashProvidedByUsedInInvestingActivities.11776.208254">Net Cash Provided by (Used in) Investing Activities</link:label>
    <link:loc xlink:label="loc_NetCashProvidedByUsedInInvestingActivities.13246.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetCashProvidedByUsedInInvestingActivities.13246.11.9" xlink:to="lab_NetCashProvidedByUsedInInvestingActivities.158334.208255" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NetCashProvidedByUsedInInvestingActivities.158334.208255" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_NetCashProvidedByUsedInInvestingActivities.158334.208255">Net cash used in investing activities</link:label>
    <link:loc xlink:label="loc_NetCashProvidedByUsedInInvestingActivitiesAbstract.3520.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetCashProvidedByUsedInInvestingActivitiesAbstract.3520.11.6" xlink:to="lab_NetCashProvidedByUsedInInvestingActivitiesAbstract.11840.208256" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NetCashProvidedByUsedInInvestingActivitiesAbstract.11840.208256" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_NetCashProvidedByUsedInInvestingActivitiesAbstract.11840.208256">Net Cash Provided by (Used in) Investing Activities [Abstract]</link:label>
    <link:loc xlink:label="loc_NetCashProvidedByUsedInInvestingActivitiesAbstract.3520.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetCashProvidedByUsedInInvestingActivitiesAbstract.3520.11.7" xlink:to="lab_NetCashProvidedByUsedInInvestingActivitiesAbstract.158338.208257" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NetCashProvidedByUsedInInvestingActivitiesAbstract.158338.208257" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_NetCashProvidedByUsedInInvestingActivitiesAbstract.158338.208257">Investing Activities:</link:label>
    <link:loc xlink:label="loc_NetCashProvidedByUsedInOperatingActivities.13262.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetCashProvidedByUsedInOperatingActivities.13262.11.6" xlink:to="lab_NetCashProvidedByUsedInOperatingActivities.11871.208258" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NetCashProvidedByUsedInOperatingActivities.11871.208258" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_NetCashProvidedByUsedInOperatingActivities.11871.208258">Net Cash Provided by (Used in) Operating Activities</link:label>
    <link:loc xlink:label="loc_NetCashProvidedByUsedInOperatingActivities.13262.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetCashProvidedByUsedInOperatingActivities.13262.11.9" xlink:to="lab_NetCashProvidedByUsedInOperatingActivities.158336.208259" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NetCashProvidedByUsedInOperatingActivities.158336.208259" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_NetCashProvidedByUsedInOperatingActivities.158336.208259">Net cash used in operating activities</link:label>
    <link:loc xlink:label="loc_NetCashProvidedByUsedInOperatingActivitiesAbstract.3521.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetCashProvidedByUsedInOperatingActivitiesAbstract.3521.11.6" xlink:to="lab_NetCashProvidedByUsedInOperatingActivitiesAbstract.11842.208260" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NetCashProvidedByUsedInOperatingActivitiesAbstract.11842.208260" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_NetCashProvidedByUsedInOperatingActivitiesAbstract.11842.208260">Net Cash Provided by (Used in) Operating Activities [Abstract]</link:label>
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    <link:labelArc xlink:from="loc_NetCashProvidedByUsedInOperatingActivitiesAbstract.3521.11.7" xlink:to="lab_NetCashProvidedByUsedInOperatingActivitiesAbstract7.158337.208261" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NetCashProvidedByUsedInOperatingActivitiesAbstract7.158337.208261" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_NetCashProvidedByUsedInOperatingActivitiesAbstract7.158337.208261">Operating Activities:</link:label>
    <link:loc xlink:label="loc_NetIncomeLoss.13265.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetIncomeLoss" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetIncomeLoss.13265.11.6" xlink:to="lab_NetIncomeLoss.11860.208262" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NetIncomeLoss.11860.208262" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_NetIncomeLoss.11860.208262">Net Income (Loss) Attributable to Parent</link:label>
    <link:loc xlink:label="loc_NetIncomeLoss.13265.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NetIncomeLoss" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NetIncomeLoss.13265.11.7" xlink:to="lab_NetIncomeLoss.158311.208263" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NetIncomeLoss.158311.208263" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_NetIncomeLoss.158311.208263">Net loss</link:label>
    <link:loc xlink:label="loc_OtherNoncashIncomeExpense.13827.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherNoncashIncomeExpense" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OtherNoncashIncomeExpense.13827.11.6" xlink:to="lab_OtherNoncashIncomeExpense.12505.208264" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OtherNoncashIncomeExpense.12505.208264" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OtherNoncashIncomeExpense.12505.208264">Other Noncash Income (Expense)</link:label>
    <link:loc xlink:label="loc_OtherNoncashIncomeExpense.13827.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherNoncashIncomeExpense" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OtherNoncashIncomeExpense.13827.11.52" xlink:to="lab_OtherNoncashIncomeExpense.158692.208265" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OtherNoncashIncomeExpense.158692.208265" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_OtherNoncashIncomeExpense.158692.208265">Deferred rent</link:label>
    <link:loc xlink:label="loc_PaymentsToAcquireAvailableForSaleSecurities.14334.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsToAcquireAvailableForSaleSecurities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PaymentsToAcquireAvailableForSaleSecurities.14334.11.6" xlink:to="lab_PaymentsToAcquireAvailableForSaleSecurities.13557.208266" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PaymentsToAcquireAvailableForSaleSecurities.13557.208266" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PaymentsToAcquireAvailableForSaleSecurities.13557.208266">Payments to Acquire Available-for-sale Securities</link:label>
    <link:loc xlink:label="loc_PaymentsToAcquireAvailableForSaleSecurities.14334.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsToAcquireAvailableForSaleSecurities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PaymentsToAcquireAvailableForSaleSecurities.14334.11.52" xlink:to="lab_PaymentsToAcquireAvailableForSaleSecurities42.158687.208267" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PaymentsToAcquireAvailableForSaleSecurities42.158687.208267" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_PaymentsToAcquireAvailableForSaleSecurities42.158687.208267">Purchases of investments</link:label>
    <link:loc xlink:label="loc_PaymentsToAcquireProductiveAssets.14309.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsToAcquireProductiveAssets" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PaymentsToAcquireProductiveAssets.14309.11.6" xlink:to="lab_PaymentsToAcquireProductiveAssets.13554.208268" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PaymentsToAcquireProductiveAssets.13554.208268" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PaymentsToAcquireProductiveAssets.13554.208268">Payments to Acquire Productive Assets</link:label>
    <link:loc xlink:label="loc_PaymentsToAcquireProductiveAssets.14309.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsToAcquireProductiveAssets" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PaymentsToAcquireProductiveAssets.14309.11.52" xlink:to="lab_PaymentsToAcquireProductiveAssets42.158684.208269" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PaymentsToAcquireProductiveAssets42.158684.208269" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US" id="lab_PaymentsToAcquireProductiveAssets42.158684.208269">Capital expenditures</link:label>
    <link:loc xlink:label="loc_ProceedsFromIssuanceOfCommonStock.15031.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromIssuanceOfCommonStock.15031.11.6" xlink:to="lab_ProceedsFromIssuanceOfCommonStock.14546.208270" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromIssuanceOfCommonStock.14546.208270" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromIssuanceOfCommonStock.14546.208270">Proceeds from Issuance of Common Stock</link:label>
    <link:loc xlink:label="loc_ProceedsFromIssuanceOfCommonStock.15031.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromIssuanceOfCommonStock.15031.11.7" xlink:to="lab_ProceedsFromIssuanceOfCommonStock.158330.208271" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromIssuanceOfCommonStock.158330.208271" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromIssuanceOfCommonStock.158330.208271">Net proceeds from sales of common stock, net of offering costs of $0.3 million and $0.3 million, respectively</link:label>
    <link:loc xlink:label="loc_ProceedsFromNotesPayable.15002.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromNotesPayable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromNotesPayable.15002.11.6" xlink:to="lab_ProceedsFromNotesPayable.14515.208275" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromNotesPayable.14515.208275" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromNotesPayable.14515.208275">Proceeds from Notes Payable</link:label>
    <link:loc xlink:label="loc_ProceedsFromNotesPayable.15002.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromNotesPayable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromNotesPayable.15002.11.7" xlink:to="lab_ProceedsFromNotesPayable.158880.208276" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromNotesPayable.158880.208276" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromNotesPayable.158880.208276">Proceeds from notes payable</link:label>
    <link:loc xlink:label="loc_ProceedsFromRepaymentsOfNotesPayable.14920.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfNotesPayable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromRepaymentsOfNotesPayable.14920.11.6" xlink:to="lab_ProceedsFromRepaymentsOfNotesPayable.14362.208277" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromRepaymentsOfNotesPayable.14362.208277" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromRepaymentsOfNotesPayable.14362.208277">Proceeds from (Repayments of) Notes Payable</link:label>
    <link:loc xlink:label="loc_ProceedsFromRepaymentsOfNotesPayable.14920.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfNotesPayable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromRepaymentsOfNotesPayable.14920.11.7" xlink:to="lab_ProceedsFromRepaymentsOfNotesPayable.158677.208278" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromRepaymentsOfNotesPayable.158677.208278" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromRepaymentsOfNotesPayable.158677.208278">Principal payments of notes payable</link:label>
    <link:loc xlink:label="loc_ProceedsFromRepaymentsOfRestrictedCashFinancingActivities.14902.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfRestrictedCashFinancingActivities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromRepaymentsOfRestrictedCashFinancingActivities.14902.11.6" xlink:to="lab_ProceedsFromRepaymentsOfRestrictedCashFinancingActivities.14452.208279" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromRepaymentsOfRestrictedCashFinancingActivities.14452.208279" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromRepaymentsOfRestrictedCashFinancingActivities.14452.208279">Proceeds from (Repayments of) Restricted Cash, Financing Activities</link:label>
    <link:loc xlink:label="loc_ProceedsFromRepaymentsOfRestrictedCashFinancingActivities.14902.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromRepaymentsOfRestrictedCashFinancingActivities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromRepaymentsOfRestrictedCashFinancingActivities.14902.11.7" xlink:to="lab_ProceedsFromRepaymentsOfRestrictedCashFinancingActivities.158675.208280" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromRepaymentsOfRestrictedCashFinancingActivities.158675.208280" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromRepaymentsOfRestrictedCashFinancingActivities.158675.208280">Restricted cash</link:label>
    <link:loc xlink:label="loc_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities.15068.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities.15068.11.6" xlink:to="lab_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities.14549.208281" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities.14549.208281" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities.14549.208281">Proceeds from Sale and Maturity of Available-for-sale Securities</link:label>
    <link:loc xlink:label="loc_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities.15068.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities.15068.11.7" xlink:to="lab_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities.158686.208282" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities.158686.208282" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities.158686.208282">Proceeds from maturities of investments</link:label>
    <link:loc xlink:label="loc_ProceedsFromSaleOfPropertyPlantAndEquipment.15098.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:type="locator" />
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    <link:loc xlink:label="loc_ProceedsFromSaleOfPropertyPlantAndEquipment.15098.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment" xlink:type="locator" />
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    <link:label xlink:label="lab_ProceedsFromSaleOfPropertyPlantAndEquipment.158333.208284" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromSaleOfPropertyPlantAndEquipment.158333.208284">Proceeds from disposal of property and equipment</link:label>
    <link:loc xlink:label="loc_ProceedsFromStockOptionsExercised.15050.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised" xlink:type="locator" />
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    <link:label xlink:label="lab_ProceedsFromStockOptionsExercised.14691.208285" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromStockOptionsExercised.14691.208285">Proceeds from Stock Options Exercised</link:label>
    <link:loc xlink:label="loc_ProceedsFromStockOptionsExercised.15050.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised" xlink:type="locator" />
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    <link:label xlink:label="lab_ProceedsFromStockOptionsExercised.158674.208286" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromStockOptionsExercised.158674.208286">Proceeds from the exercise of stock options</link:label>
    <link:loc xlink:label="loc_RepaymentsOfLongTermCapitalLeaseObligations.15819.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RepaymentsOfLongTermCapitalLeaseObligations" xlink:type="locator" />
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    <link:label xlink:label="lab_RepaymentsOfLongTermCapitalLeaseObligations.15813.208287" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RepaymentsOfLongTermCapitalLeaseObligations.15813.208287">Repayments of Long-term Capital Lease Obligations</link:label>
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    <link:label xlink:label="lab_ShareBasedCompensation7.158318.208290" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ShareBasedCompensation7.158318.208290">Non-cash stock-based compensation</link:label>
    <link:loc xlink:label="loc_StatementOfCashFlowsAbstract.5168.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_StatementOfCashFlowsAbstract.5168.11.6" xlink:to="lab_StatementOfCashFlowsAbstract.158316.208291" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_StatementOfCashFlowsAbstract.158316.208291" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_StatementOfCashFlowsAbstract.158316.208291">STATEMENTS OF CASH FLOWS [Abstract]</link:label>
    <link:loc xlink:label="loc_SupplementalCashFlowInformationAbstract.5255.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:type="locator" />
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    <link:label xlink:label="lab_SupplementalCashFlowInformationAbstract.158344.208293" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_SupplementalCashFlowInformationAbstract.158344.208293">Supplemental disclosure of cash flow information:</link:label>
    <link:loc xlink:label="loc_SupplementalCashFlowInformationAbstract.5255.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SupplementalCashFlowInformationAbstract" xlink:type="locator" />
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    <link:label xlink:label="lab_SupplementalCashFlowInformationAbstract.18204.208292" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_SupplementalCashFlowInformationAbstract.18204.208292">Supplemental Cash Flow Information [Abstract]</link:label>
    <link:loc xlink:label="loc_AmendmentFlag.144.11.6" xlink:href="http://xbrl.sec.gov/dei/2013/dei-2013-01-31.xsd#dei_AmendmentFlag" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AmendmentFlag.144.11.6" xlink:to="lab_AmendmentFlag.8.208055" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AmendmentFlag.8.208055" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AmendmentFlag.8.208055">Amendment Flag</link:label>
    <link:loc xlink:label="loc_CurrentFiscalYearEndDate.155.11.6" xlink:href="http://xbrl.sec.gov/dei/2013/dei-2013-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CurrentFiscalYearEndDate.155.11.6" xlink:to="lab_CurrentFiscalYearEndDate.20.208056" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CurrentFiscalYearEndDate.20.208056" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CurrentFiscalYearEndDate.20.208056">Current Fiscal Year End Date</link:label>
    <link:loc xlink:label="loc_DocumentAndEntityInformationAbstract.23926.11.6" xlink:href="nvax-20130630.xsd#nvax_DocumentAndEntityInformationAbstract" xlink:type="locator" />
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    <link:label xlink:label="lab_DocumentAndEntityInformationAbstract.158197.208057" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DocumentAndEntityInformationAbstract.158197.208057">Document and Entity Information [Abstract]</link:label>
    <link:loc xlink:label="loc_DocumentFiscalPeriodFocus.206.11.6" xlink:href="http://xbrl.sec.gov/dei/2013/dei-2013-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DocumentFiscalPeriodFocus.206.11.6" xlink:to="lab_DocumentFiscalPeriodFocus.123.208058" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DocumentFiscalPeriodFocus.123.208058" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DocumentFiscalPeriodFocus.123.208058">Document Fiscal Period Focus</link:label>
    <link:loc xlink:label="loc_DocumentFiscalYearFocus.205.11.6" xlink:href="http://xbrl.sec.gov/dei/2013/dei-2013-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DocumentFiscalYearFocus.205.11.6" xlink:to="lab_DocumentFiscalYearFocus.122.208059" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DocumentFiscalYearFocus.122.208059" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DocumentFiscalYearFocus.122.208059">Document Fiscal Year Focus</link:label>
    <link:loc xlink:label="loc_DocumentPeriodEndDate.161.11.6" xlink:href="http://xbrl.sec.gov/dei/2013/dei-2013-01-31.xsd#dei_DocumentPeriodEndDate" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DocumentPeriodEndDate.161.11.6" xlink:to="lab_DocumentPeriodEndDate.30.208060" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DocumentPeriodEndDate.30.208060" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DocumentPeriodEndDate.30.208060">Document Period End Date</link:label>
    <link:loc xlink:label="loc_DocumentType.210.11.6" xlink:href="http://xbrl.sec.gov/dei/2013/dei-2013-01-31.xsd#dei_DocumentType" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DocumentType.210.11.6" xlink:to="lab_DocumentType.32.208061" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DocumentType.32.208061" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DocumentType.32.208061">Document Type</link:label>
    <link:loc xlink:label="loc_EntityCentralIndexKey.186.11.6" xlink:href="http://xbrl.sec.gov/dei/2013/dei-2013-01-31.xsd#dei_EntityCentralIndexKey" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EntityCentralIndexKey.186.11.6" xlink:to="lab_EntityCentralIndexKey.101.208062" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_EntityCentralIndexKey.101.208062" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_EntityCentralIndexKey.101.208062">Entity Central Index Key</link:label>
    <link:loc xlink:label="loc_EntityCommonStockSharesOutstanding.190.11.6" xlink:href="http://xbrl.sec.gov/dei/2013/dei-2013-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EntityCommonStockSharesOutstanding.190.11.6" xlink:to="lab_EntityCommonStockSharesOutstanding.105.208063" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_EntityCommonStockSharesOutstanding.105.208063" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_EntityCommonStockSharesOutstanding.105.208063">Entity Common Stock, Shares Outstanding</link:label>
    <link:loc xlink:label="loc_EntityFilerCategory.183.11.6" xlink:href="http://xbrl.sec.gov/dei/2013/dei-2013-01-31.xsd#dei_EntityFilerCategory" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EntityFilerCategory.183.11.6" xlink:to="lab_EntityFilerCategory.98.208064" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_EntityFilerCategory.98.208064" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_EntityFilerCategory.98.208064">Entity Filer Category</link:label>
    <link:loc xlink:label="loc_EntityRegistrantName.185.11.6" xlink:href="http://xbrl.sec.gov/dei/2013/dei-2013-01-31.xsd#dei_EntityRegistrantName" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EntityRegistrantName.185.11.6" xlink:to="lab_EntityRegistrantName.100.208065" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_EntityRegistrantName.100.208065" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_EntityRegistrantName.100.208065">Entity Registrant Name</link:label>
    <link:loc xlink:label="loc_TradingSymbol.176.11.6" xlink:href="http://xbrl.sec.gov/dei/2013/dei-2013-01-31.xsd#dei_TradingSymbol" xlink:type="locator" />
    <link:labelArc xlink:from="loc_TradingSymbol.176.11.6" xlink:to="lab_TradingSymbol.60.208066" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_TradingSymbol.60.208066" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_TradingSymbol.60.208066">Trading Symbol</link:label>
    <link:loc xlink:label="loc_FairValueDisclosuresAbstract.2053.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueDisclosuresAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueDisclosuresAbstract.2053.11.6" xlink:to="lab_FairValueDisclosuresAbstract.495117.208589" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FairValueDisclosuresAbstract.495117.208589" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_FairValueDisclosuresAbstract.495117.208589">Fair Value Measurements [Abstract]</link:label>
    <link:loc xlink:label="loc_FairValueDisclosuresTextBlock.9740.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:type="locator" />
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    <link:label xlink:label="lab_FairValueDisclosuresTextBlock.6346.208590" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_FairValueDisclosuresTextBlock.6346.208590">Fair Value Disclosures [Text Block]</link:label>
    <link:loc xlink:label="loc_FairValueDisclosuresTextBlock.9740.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock" xlink:type="locator" />
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    <link:label xlink:label="lab_FairValueDisclosuresTextBlock7.495118.208591" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_FairValueDisclosuresTextBlock7.495118.208591">Fair Value Measurements</link:label>
    <link:loc xlink:label="loc_FairValueInputsLevel1Member.2138.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueInputsLevel1Member" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueInputsLevel1Member.2138.11.7" xlink:to="FairValueInputsLevel1Member.141121.495124.208601" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="FairValueInputsLevel1Member.141121.495124.208601" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="FairValueInputsLevel1Member.141121.495124.208601">Level 1 [Member]</link:label>
    <link:loc xlink:label="loc_InvestmentsFairValueDisclosure.11996.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InvestmentsFairValueDisclosure" xlink:type="locator" />
    <link:labelArc xlink:from="loc_InvestmentsFairValueDisclosure.11996.11.7" xlink:to="InvestmentsFairValueDisclosure.495128.208602" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="InvestmentsFairValueDisclosure.495128.208602" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="InvestmentsFairValueDisclosure.495128.208602">Total investments</link:label>
    <link:loc xlink:label="loc_AssetsFairValueDisclosureAbstract.608.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AssetsFairValueDisclosureAbstract" xlink:type="locator" />
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    <link:label xlink:label="lab_AssetsFairValueDisclosureAbstract.1139.208603" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AssetsFairValueDisclosureAbstract.1139.208603">Assets, Fair Value Disclosure [Abstract]</link:label>
    <link:loc xlink:label="loc_AssetsFairValueDisclosureAbstract.608.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AssetsFairValueDisclosureAbstract" xlink:type="locator" />
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    <link:label xlink:label="lab_AssetsFairValueDisclosureAbstract7.495129.208604" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_AssetsFairValueDisclosureAbstract7.495129.208604">Assets</link:label>
    <link:loc xlink:label="loc_AvailableForSaleSecurities.6182.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AvailableForSaleSecurities" xlink:type="locator" />
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    <link:label xlink:label="lab_AvailableForSaleSecurities.1289" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AvailableForSaleSecurities.1289">Available-for-sale Securities</link:label>
    <link:loc xlink:label="loc_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems.2051.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisLineItems" xlink:type="locator" />
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    <link:loc xlink:label="loc_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable.1996.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTable" xlink:type="locator" />
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    <link:loc xlink:label="loc_FairValueByFairValueHierarchyLevelAxis.1998.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueByFairValueHierarchyLevelAxis.1998.11.6" xlink:to="lab_FairValueByFairValueHierarchyLevelAxis.6113.495122.208609" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_FairValueInputsLevel1Member.2138.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueInputsLevel1Member" xlink:type="locator" />
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    <link:label xlink:label="lab_FairValueInputsLevel1Member.6601.208610" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_FairValueInputsLevel1Member.6601.208610">Fair Value, Inputs, Level 1 [Member]</link:label>
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    <link:labelArc xlink:from="loc_FairValueInputsLevel2Member.2139.11.7" xlink:to="lab_FairValueInputsLevel2Member.138285.495125.208612" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FairValueInputsLevel2Member.138285.495125.208612" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_FairValueInputsLevel2Member.138285.495125.208612">Level 2 [Member]</link:label>
    <link:loc xlink:label="loc_FairValueInputsLevel2Member.2139.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueInputsLevel2Member" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueInputsLevel2Member.2139.11.6" xlink:to="lab_FairValueInputsLevel2Member.6625.208611" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FairValueInputsLevel2Member.6625.208611" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_FairValueInputsLevel2Member.6625.208611">Fair Value, Inputs, Level 2 [Member]</link:label>
    <link:loc xlink:label="loc_FairValueInputsLevel3Member.2129.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueInputsLevel3Member.2129.11.7" xlink:to="lab_FairValueInputsLevel3Member.141122.495126.208614" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FairValueInputsLevel3Member.141122.495126.208614" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_FairValueInputsLevel3Member.141122.495126.208614">Level 3 [Member]</link:label>
    <link:loc xlink:label="loc_FairValueInputsLevel3Member.2129.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueInputsLevel3Member" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueInputsLevel3Member.2129.11.6" xlink:to="lab_FairValueInputsLevel3Member.6593.208613" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FairValueInputsLevel3Member.6593.208613" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_FairValueInputsLevel3Member.6593.208613">Fair Value, Inputs, Level 3 [Member]</link:label>
    <link:loc xlink:label="loc_FairValueMeasurementsFairValueHierarchyDomain.2060.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueMeasurementsFairValueHierarchyDomain" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueMeasurementsFairValueHierarchyDomain.2060.11.6" xlink:to="lab_FairValueMeasurementsFairValueHierarchyDomain.6292.495123.208615" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FairValueMeasurementsFairValueHierarchyDomain.6292.495123.208615" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_FairValueMeasurementsFairValueHierarchyDomain.6292.495123.208615">Fair Value, Measurements, Fair Value Hierarchy [Domain]</link:label>
    <link:loc xlink:label="loc_InvestmentsFairValueDisclosure.11996.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InvestmentsFairValueDisclosure" xlink:type="locator" />
    <link:labelArc xlink:from="loc_InvestmentsFairValueDisclosure.11996.11.6" xlink:to="lab_InvestmentsFairValueDisclosure.9873.208616" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_InvestmentsFairValueDisclosure.9873.208616" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_InvestmentsFairValueDisclosure.9873.208616">Investments, Fair Value Disclosure</link:label>
    <link:loc xlink:label="loc_LiabilitiesFairValueDisclosureAbstract.3067.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LiabilitiesFairValueDisclosureAbstract.3067.11.6" xlink:to="lab_LiabilitiesFairValueDisclosureAbstract.10189.208617" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LiabilitiesFairValueDisclosureAbstract.10189.208617" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LiabilitiesFairValueDisclosureAbstract.10189.208617">Liabilities, Fair Value Disclosure [Abstract]</link:label>
    <link:loc xlink:label="loc_LiabilitiesFairValueDisclosureAbstract.3067.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosureAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LiabilitiesFairValueDisclosureAbstract.3067.11.7" xlink:to="lab_LiabilitiesFairValueDisclosureAbstract.139877.208618" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LiabilitiesFairValueDisclosureAbstract.139877.208618" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LiabilitiesFairValueDisclosureAbstract.139877.208618">Liabilities:</link:label>
    <link:loc xlink:label="loc_OtherLiabilitiesFairValueDisclosure.13881.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherLiabilitiesFairValueDisclosure" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OtherLiabilitiesFairValueDisclosure.13881.11.6" xlink:to="lab_OtherLiabilitiesFairValueDisclosure.12701.208619" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OtherLiabilitiesFairValueDisclosure.12701.208619" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_OtherLiabilitiesFairValueDisclosure.12701.208619">Other Liabilities, Fair Value Disclosure</link:label>
    <link:loc xlink:label="loc_OtherLiabilitiesFairValueDisclosure.13881.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherLiabilitiesFairValueDisclosure" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OtherLiabilitiesFairValueDisclosure.13881.11.7" xlink:to="lab_OtherLiabilitiesFairValueDisclosure.495130.208620" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_OtherLiabilitiesFairValueDisclosure.495130.208620" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_OtherLiabilitiesFairValueDisclosure.495130.208620">Warrant liabilities</link:label>
    <link:loc xlink:label="loc_AvailableForSaleSecurities.6182.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AvailableForSaleSecurities" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AvailableForSaleSecurities.6182.11.7" xlink:to="us-gaap_AvailableForSaleSecurities_lbl.483991.208672" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="us-gaap_AvailableForSaleSecurities_lbl.483991.208672" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="us-gaap_AvailableForSaleSecurities_lbl.483991.208672">Corporate debt and auction rate securities</link:label>
    <link:loc xlink:label="loc_FairValueByShareholdersEquityClassDomain.2057.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueByShareholdersEquityClassDomain" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueByShareholdersEquityClassDomain.2057.11.6" xlink:to="lab_FairValueByShareholdersEquityClassDomain.6355.208621" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FairValueByShareholdersEquityClassDomain.6355.208621" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_FairValueByShareholdersEquityClassDomain.6355.208621">Fair Value by Shareholders' Equity Class [Domain]</link:label>
    <link:loc xlink:label="loc_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems.2134.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems.2134.11.6" xlink:to="lab_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems.6675.208622" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems.6675.208622" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems.6675.208622">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]</link:label>
    <link:loc xlink:label="loc_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable.2133.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable.2133.11.6" xlink:to="lab_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable.6699.208623" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable.6699.208623" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTable.6699.208623">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table]</link:label>
    <link:loc xlink:label="loc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease.9954.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease.9954.11.7" xlink:to="lab_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease.158983.208625" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease.158983.208625" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease.158983.208625">Change in fair value of Warrant liability</link:label>
    <link:loc xlink:label="loc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease.9954.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease.9954.11.6" xlink:to="lab_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease.6650.208624" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease.6650.208624" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease.6650.208624">Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease)</link:label>
    <link:loc xlink:label="loc_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue.9648.11.10" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue.9648.11.10" xlink:to="lab_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue.158981.208627" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue.158981.208627" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US" id="lab_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue.158981.208627">Balance at December 31, 2012</link:label>
    <link:loc xlink:label="loc_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue.9648.11.11" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue.9648.11.11" xlink:to="lab_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue.158984.208628" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue.158984.208628" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US" id="lab_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue.158984.208628">Balance at June 30, 2013</link:label>
    <link:loc xlink:label="loc_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue.9648.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue.9648.11.6" xlink:to="lab_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue.6176.208626" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue.6176.208626" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue.6176.208626">Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value</link:label>
    <link:loc xlink:label="loc_ShareholdersEquityClassAxis.4707.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareholdersEquityClassAxis" xlink:type="locator" />
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    <link:label xlink:label="lab_ShareholdersEquityClassAxis.16351.208629" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ShareholdersEquityClassAxis.16351.208629">Shareholders' Equity Class [Axis]</link:label>
    <link:loc xlink:label="loc_WarrantsSettleableInCashMember.23966.11.6" xlink:href="nvax-20130630.xsd#nvax_WarrantsSettleableInCashMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_WarrantsSettleableInCashMember.23966.11.6" xlink:to="lab_WarrantsSettleableInCashMember.495132.208630" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_WarrantsSettleableInCashMember.495132.208630" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_WarrantsSettleableInCashMember.495132.208630">Warrants Settleable In Cash [Member]</link:label>
    <link:loc xlink:label="loc_WarrantsSettleableInCashMember.23966.11.12" xlink:href="nvax-20130630.xsd#nvax_WarrantsSettleableInCashMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_WarrantsSettleableInCashMember.23966.11.12" xlink:to="lab_WarrantsSettleableInCashMember.495133.208631" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_WarrantsSettleableInCashMember.495133.208631" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_WarrantsSettleableInCashMember.495133.208631">Warrants Settleable In Cash Member.</link:label>
    <link:loc xlink:label="loc_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock.9863.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:type="locator" />
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    <link:loc xlink:label="loc_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock.9863.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:type="locator" />
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    <link:label xlink:label="lab_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock.6652.208595" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock.6652.208595">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]</link:label>
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    <link:label xlink:label="lab_AdditionalTenantImprovementAllowance.159755.208577" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_AdditionalTenantImprovementAllowance.159755.208577">Additional tenant improvement allowance</link:label>
    <link:loc xlink:label="loc_AdditionalTenantImprovementAllowance.23916.11.7" xlink:href="nvax-20130630.xsd#nvax_AdditionalTenantImprovementAllowance" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AdditionalTenantImprovementAllowance.23916.11.7" xlink:to="lab_AdditionalTenantImprovementAllowance7.159756.208578" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AdditionalTenantImprovementAllowance7.159756.208578" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_AdditionalTenantImprovementAllowance7.159756.208578">Additional tenant improvement allowance</link:label>
    <link:loc xlink:label="loc_LeasedFacilitySquareFootage.23932.11.6" xlink:href="nvax-20130630.xsd#nvax_LeasedFacilitySquareFootage" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LeasedFacilitySquareFootage.23932.11.6" xlink:to="lab_LeasedFacilitySquareFootage.159747.208579" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LeasedFacilitySquareFootage.159747.208579" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LeasedFacilitySquareFootage.159747.208579">Leased Facility Square Footage</link:label>
    <link:loc xlink:label="loc_LeasedFacilitySquareFootage.23932.11.12" xlink:href="nvax-20130630.xsd#nvax_LeasedFacilitySquareFootage" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LeasedFacilitySquareFootage.23932.11.12" xlink:to="lab_LeasedFacilitySquareFootage.174157.208580" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LeasedFacilitySquareFootage.174157.208580" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_LeasedFacilitySquareFootage.174157.208580">Amount of square footage of leased facililty.</link:label>
    <link:loc xlink:label="loc_LeasedFacilitySquareFootage.23932.11.7" xlink:href="nvax-20130630.xsd#nvax_LeasedFacilitySquareFootage" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LeasedFacilitySquareFootage.23932.11.7" xlink:to="lab_LeasedFacilitySquareFootage7.159753.208581" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LeasedFacilitySquareFootage7.159753.208581" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LeasedFacilitySquareFootage7.159753.208581">Leased facility square footage</link:label>
    <link:loc xlink:label="loc_PaymentsForProceedsFromTenantAllowance.14211.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsForProceedsFromTenantAllowance" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PaymentsForProceedsFromTenantAllowance.14211.11.6" xlink:to="lab_PaymentsForProceedsFromTenantAllowance.13363.208582" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PaymentsForProceedsFromTenantAllowance.13363.208582" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PaymentsForProceedsFromTenantAllowance.13363.208582">Payments for (Proceeds from) Tenant Allowance</link:label>
    <link:loc xlink:label="loc_PaymentsForProceedsFromTenantAllowance.14211.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsForProceedsFromTenantAllowance" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PaymentsForProceedsFromTenantAllowance.14211.11.7" xlink:to="lab_PaymentsForProceedsFromTenantAllowance.159758.208583" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PaymentsForProceedsFromTenantAllowance.159758.208583" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_PaymentsForProceedsFromTenantAllowance.159758.208583">Amount funded from tenant allowance</link:label>
    <link:loc xlink:label="loc_TenantAllowanceInterestRate.23960.11.6" xlink:href="nvax-20130630.xsd#nvax_TenantAllowanceInterestRate" xlink:type="locator" />
    <link:labelArc xlink:from="loc_TenantAllowanceInterestRate.23960.11.6" xlink:to="lab_TenantAllowanceInterestRate.171384.208584" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_TenantAllowanceInterestRate.171384.208584" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_TenantAllowanceInterestRate.171384.208584">Tenant Allowance Interest Rate</link:label>
    <link:loc xlink:label="loc_TenantAllowanceInterestRate.23960.11.12" xlink:href="nvax-20130630.xsd#nvax_TenantAllowanceInterestRate" xlink:type="locator" />
    <link:labelArc xlink:from="loc_TenantAllowanceInterestRate.23960.11.12" xlink:to="lab_TenantAllowanceInterestRate.171385.208585" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_TenantAllowanceInterestRate.171385.208585" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_TenantAllowanceInterestRate.171385.208585">Tenant Allowance Interest Rate</link:label>
    <link:loc xlink:label="loc_TenantImprovementAllowance.23961.11.6" xlink:href="nvax-20130630.xsd#nvax_TenantImprovementAllowance" xlink:type="locator" />
    <link:labelArc xlink:from="loc_TenantImprovementAllowance.23961.11.6" xlink:to="lab_TenantImprovementAllowance.159750.208586" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_TenantImprovementAllowance.159750.208586" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_TenantImprovementAllowance.159750.208586">Tenant Improvement Allowance</link:label>
    <link:loc xlink:label="loc_TenantImprovementAllowance.23961.11.12" xlink:href="nvax-20130630.xsd#nvax_TenantImprovementAllowance" xlink:type="locator" />
    <link:labelArc xlink:from="loc_TenantImprovementAllowance.23961.11.12" xlink:to="lab_TenantImprovementAllowance.159751.208587" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_TenantImprovementAllowance.159751.208587" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_TenantImprovementAllowance.159751.208587">Tenant Improvement Allowance</link:label>
    <link:loc xlink:label="loc_TenantImprovementAllowance.23961.11.7" xlink:href="nvax-20130630.xsd#nvax_TenantImprovementAllowance" xlink:type="locator" />
    <link:labelArc xlink:from="loc_TenantImprovementAllowance.23961.11.7" xlink:to="lab_TenantImprovementAllowance7.159752.208588" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_TenantImprovementAllowance7.159752.208588" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_TenantImprovementAllowance7.159752.208588">Tenant improvement allowance</link:label>
    <link:loc xlink:label="loc_DebtDisclosureAbstract.1355.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtDisclosureAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtDisclosureAbstract.1355.11.6" xlink:to="lab_DebtDisclosureAbstract.158743.208328" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtDisclosureAbstract.158743.208328" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DebtDisclosureAbstract.158743.208328">Notes Payable [Abstract]</link:label>
    <link:loc xlink:label="loc_DebtDisclosureTextBlock.7682.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtDisclosureTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtDisclosureTextBlock.7682.11.6" xlink:to="lab_DebtDisclosureTextBlock.3550.208329" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtDisclosureTextBlock.3550.208329" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DebtDisclosureTextBlock.3550.208329">Debt Disclosure [Text Block]</link:label>
    <link:loc xlink:label="loc_DebtDisclosureTextBlock.7682.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtDisclosureTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtDisclosureTextBlock.7682.11.7" xlink:to="lab_DebtDisclosureTextBlock7.158744.208330" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtDisclosureTextBlock7.158744.208330" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DebtDisclosureTextBlock7.158744.208330">Notes Payable</link:label>
    <link:loc xlink:label="loc_LoanAgreementFutureMinimumPaymentsDue.23934.11.9" xlink:href="nvax-20130630.xsd#nvax_LoanAgreementFutureMinimumPaymentsDue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LoanAgreementFutureMinimumPaymentsDue.23934.11.9" xlink:to="lab_CapitalLeasesFutureMinimumPaymentsDue9.159292.208551" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CapitalLeasesFutureMinimumPaymentsDue9.159292.208551" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_CapitalLeasesFutureMinimumPaymentsDue9.159292.208551">Total</link:label>
    <link:loc xlink:label="loc_LoanAgreementFutureMinimumPaymentsDue.23934.11.6" xlink:href="nvax-20130630.xsd#nvax_LoanAgreementFutureMinimumPaymentsDue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LoanAgreementFutureMinimumPaymentsDue.23934.11.6" xlink:to="lab_LoanAgreementFutureMinimumPaymentsDue.159285.208552" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LoanAgreementFutureMinimumPaymentsDue.159285.208552" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LoanAgreementFutureMinimumPaymentsDue.159285.208552">Loan Agreement Future Minimum Payments Due</link:label>
    <link:loc xlink:label="loc_LoanAgreementFutureMinimumPaymentsDue.23934.11.12" xlink:href="nvax-20130630.xsd#nvax_LoanAgreementFutureMinimumPaymentsDue" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LoanAgreementFutureMinimumPaymentsDue.23934.11.12" xlink:to="lab_LoanAgreementFutureMinimumPaymentsDue.159290.208553" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LoanAgreementFutureMinimumPaymentsDue.159290.208553" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_LoanAgreementFutureMinimumPaymentsDue.159290.208553">Amount of minimum loan payments.</link:label>
    <link:loc xlink:label="loc_LoanAgreementFutureMinimumPaymentsDueInRollingYearFour.23935.11.6" xlink:href="nvax-20130630.xsd#nvax_LoanAgreementFutureMinimumPaymentsDueInRollingYearFour" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LoanAgreementFutureMinimumPaymentsDueInRollingYearFour.23935.11.6" xlink:to="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearFour.159279.208554" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearFour.159279.208554" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearFour.159279.208554">Loan Agreement Future Minimum Payments Due In Rolling Year Four</link:label>
    <link:loc xlink:label="loc_LoanAgreementFutureMinimumPaymentsDueInRollingYearFour.23935.11.12" xlink:href="nvax-20130630.xsd#nvax_LoanAgreementFutureMinimumPaymentsDueInRollingYearFour" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LoanAgreementFutureMinimumPaymentsDueInRollingYearFour.23935.11.12" xlink:to="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearFour.159282.208555" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearFour.159282.208555" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearFour.159282.208555">Amount of minimum loan payments maturing in the fourth rolling twelve months following the latest balance sheet presented.</link:label>
    <link:loc xlink:label="loc_LoanAgreementFutureMinimumPaymentsDueInRollingYearFour.23935.11.7" xlink:href="nvax-20130630.xsd#nvax_LoanAgreementFutureMinimumPaymentsDueInRollingYearFour" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LoanAgreementFutureMinimumPaymentsDueInRollingYearFour.23935.11.7" xlink:to="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearFour7.159283.208556" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearFour7.159283.208556" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearFour7.159283.208556">2016</link:label>
    <link:loc xlink:label="loc_LoanAgreementFutureMinimumPaymentsDueInRollingYearThree.23936.11.6" xlink:href="nvax-20130630.xsd#nvax_LoanAgreementFutureMinimumPaymentsDueInRollingYearThree" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LoanAgreementFutureMinimumPaymentsDueInRollingYearThree.23936.11.6" xlink:to="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearThree.159276.208557" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearThree.159276.208557" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearThree.159276.208557">Loan Agreement Future Minimum Payments Due In Rolling Year Three</link:label>
    <link:loc xlink:label="loc_LoanAgreementFutureMinimumPaymentsDueInRollingYearThree.23936.11.12" xlink:href="nvax-20130630.xsd#nvax_LoanAgreementFutureMinimumPaymentsDueInRollingYearThree" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LoanAgreementFutureMinimumPaymentsDueInRollingYearThree.23936.11.12" xlink:to="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearThree.159277.208558" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearThree.159277.208558" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearThree.159277.208558">Amount of minimum loan payments maturing in the third rolling twelve months following the latest balance sheet presented.</link:label>
    <link:loc xlink:label="loc_LoanAgreementFutureMinimumPaymentsDueInRollingYearThree.23936.11.7" xlink:href="nvax-20130630.xsd#nvax_LoanAgreementFutureMinimumPaymentsDueInRollingYearThree" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LoanAgreementFutureMinimumPaymentsDueInRollingYearThree.23936.11.7" xlink:to="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearThree7.159278.208559" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearThree7.159278.208559" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearThree7.159278.208559">2015</link:label>
    <link:loc xlink:label="loc_LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo.23937.11.6" xlink:href="nvax-20130630.xsd#nvax_LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo.23937.11.6" xlink:to="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo.159273.208560" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo.159273.208560" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo.159273.208560">Loan Agreement Future Minimum Payments Due In Rolling Year Two</link:label>
    <link:loc xlink:label="loc_LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo.23937.11.12" xlink:href="nvax-20130630.xsd#nvax_LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo.23937.11.12" xlink:to="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo.159274.208561" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo.159274.208561" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo.159274.208561">Amount of minimum loan payments maturing in the second rolling twelve months following the latest balance sheet presented.</link:label>
    <link:loc xlink:label="loc_LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo.23937.11.7" xlink:href="nvax-20130630.xsd#nvax_LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo.23937.11.7" xlink:to="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo7.159275.208562" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo7.159275.208562" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo7.159275.208562">2014</link:label>
    <link:loc xlink:label="loc_LoanAgreementFutureMinimumPaymentsRemainderOfFiscalYear.23938.11.6" xlink:href="nvax-20130630.xsd#nvax_LoanAgreementFutureMinimumPaymentsRemainderOfFiscalYear" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LoanAgreementFutureMinimumPaymentsRemainderOfFiscalYear.23938.11.6" xlink:to="lab_LoanAgreementFutureMinimumPaymentsRemainderOfFiscalYear.159258.208563" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LoanAgreementFutureMinimumPaymentsRemainderOfFiscalYear.159258.208563" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LoanAgreementFutureMinimumPaymentsRemainderOfFiscalYear.159258.208563">Loan Agreement Future Minimum Payments Remainder Of Fiscal Year</link:label>
    <link:loc xlink:label="loc_LoanAgreementFutureMinimumPaymentsRemainderOfFiscalYear.23938.11.12" xlink:href="nvax-20130630.xsd#nvax_LoanAgreementFutureMinimumPaymentsRemainderOfFiscalYear" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LoanAgreementFutureMinimumPaymentsRemainderOfFiscalYear.23938.11.12" xlink:to="lab_LoanAgreementFutureMinimumPaymentsRemainderOfFiscalYear.159264.208564" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_LoanAgreementFutureMinimumPaymentsRemainderOfFiscalYear.23938.11.7" xlink:href="nvax-20130630.xsd#nvax_LoanAgreementFutureMinimumPaymentsRemainderOfFiscalYear" xlink:type="locator" />
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    <link:label xlink:label="lab_LoanAgreementFutureMinimumPaymentsRemainderOfFiscalYear7.159266.208565" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LoanAgreementFutureMinimumPaymentsRemainderOfFiscalYear7.159266.208565">2013 (remainder)</link:label>
    <link:loc xlink:label="loc_DebtInstrumentBasisSpreadOnVariableRate1.7653.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:type="locator" />
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    <link:loc xlink:label="loc_DebtInstrumentBasisSpreadOnVariableRate1.7653.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentBasisSpreadOnVariableRate1" xlink:type="locator" />
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    <link:loc xlink:label="loc_DebtInstrumentFaceAmount.7642.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:type="locator" />
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    <link:label xlink:label="lab_DebtInstrumentFaceAmount.159637.208539" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentFaceAmount.159637.208539">Borrowing limit of loan</link:label>
    <link:loc xlink:label="loc_DebtInstrumentFaceAmount.7642.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentFaceAmount" xlink:type="locator" />
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    <link:label xlink:label="lab_DebtInstrumentFaceAmount.3599.208538" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentFaceAmount.3599.208538">Debt Instrument, Face Amount</link:label>
    <link:loc xlink:label="loc_DebtInstrumentInterestRateDuringPeriod.7760.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentInterestRateDuringPeriod" xlink:type="locator" />
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    <link:label xlink:label="lab_DebtInstrumentInterestRateDuringPeriod.159642.208543" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentInterestRateDuringPeriod.159642.208543">Interest rate during period</link:label>
    <link:loc xlink:label="loc_DebtInstrumentInterestRateDuringPeriod.7760.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentInterestRateDuringPeriod" xlink:type="locator" />
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    <link:label xlink:label="lab_DebtInstrumentInterestRateDuringPeriod.3669.208542" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentInterestRateDuringPeriod.3669.208542">Debt Instrument, Interest Rate During Period</link:label>
    <link:loc xlink:label="loc_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum.7766.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum.7766.11.7" xlink:to="lab_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum.159640.208545" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum.159640.208545" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum.159640.208545">Minimum interest rate</link:label>
    <link:loc xlink:label="loc_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum.7766.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum.7766.11.6" xlink:to="lab_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum.3627.208544" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum.3627.208544" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum.3627.208544">Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum</link:label>
    <link:loc xlink:label="loc_DebtInstrumentPeriodicPayment.7731.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentPeriodicPayment" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtInstrumentPeriodicPayment.7731.11.7" xlink:to="lab_DebtInstrumentPeriodicPayment.159643.208547" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtInstrumentPeriodicPayment.159643.208547" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentPeriodicPayment.159643.208547">Monthly principal payments</link:label>
    <link:loc xlink:label="loc_DebtInstrumentPeriodicPayment.7731.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentPeriodicPayment" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtInstrumentPeriodicPayment.7731.11.6" xlink:to="lab_DebtInstrumentPeriodicPayment.3635.208546" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtInstrumentPeriodicPayment.3635.208546" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentPeriodicPayment.3635.208546">Debt Instrument, Periodic Payment</link:label>
    <link:loc xlink:label="loc_DebtInstrumentTerm.7687.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentTerm" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtInstrumentTerm.7687.11.6" xlink:to="lab_DebtInstrumentTerm.3731" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtInstrumentTerm.3731" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentTerm.3731">Debt Instrument, Term</link:label>
    <link:loc xlink:label="loc_DebtInstrumentTerm.7687.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DebtInstrumentTerm" xlink:type="locator" />
    <link:labelArc xlink:from="loc_DebtInstrumentTerm.7687.11.7" xlink:to="lab_DebtInstrumentTerm.208676" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_DebtInstrumentTerm.208676" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_DebtInstrumentTerm.208676">Repayment term</link:label>
    <link:loc xlink:label="loc_ProceedsFromIssuanceOfDebt.14860.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromIssuanceOfDebt" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromIssuanceOfDebt.14860.11.6" xlink:to="lab_ProceedsFromIssuanceOfDebt.14891" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromIssuanceOfDebt.14891" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromIssuanceOfDebt.14891">Proceeds from Issuance of Debt</link:label>
    <link:loc xlink:label="loc_ProceedsFromIssuanceOfDebt.14860.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromIssuanceOfDebt" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromIssuanceOfDebt.14860.11.7" xlink:to="lab_ProceedsFromIssuanceOfDebt.182593.208678" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromIssuanceOfDebt.182593.208678" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromIssuanceOfDebt.182593.208678">Debt instrument, increase in borrowings</link:label>
    <link:loc xlink:label="loc_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock.16372.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock.16372.11.6" xlink:to="lab_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock.16605.208346" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock.16605.208346" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock.16605.208346">Schedule of Maturities of Long-term Debt [Table Text Block]</link:label>
    <link:loc xlink:label="loc_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock.16372.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock.16372.11.7" xlink:to="lab_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock.495205.208347" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock.495205.208347" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock.495205.208347">Schedule of Future Minimum Principal Payments</link:label>
    <link:loc xlink:label="loc_NatureOfOperations.13195.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NatureOfOperations" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NatureOfOperations.13195.11.6" xlink:to="lab_NatureOfOperations.11734.208296" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NatureOfOperations.11734.208296" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_NatureOfOperations.11734.208296">Nature of Operations [Text Block]</link:label>
    <link:loc xlink:label="loc_NatureOfOperations.13195.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_NatureOfOperations" xlink:type="locator" />
    <link:labelArc xlink:from="loc_NatureOfOperations.13195.11.7" xlink:to="lab_NatureOfOperations7.158717.208297" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_NatureOfOperations7.158717.208297" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_NatureOfOperations7.158717.208297">Organization</link:label>
    <link:loc xlink:label="loc_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract.3716.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract.3716.11.6" xlink:to="lab_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract.158715.208298" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_OperationsAbstract.23943.11.12" xlink:href="nvax-20130630.xsd#nvax_OperationsAbstract" xlink:type="locator" />
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    <link:loc xlink:label="loc_OperationsDisclosureTextBlock.23944.11.6" xlink:href="nvax-20130630.xsd#nvax_OperationsDisclosureTextBlock" xlink:type="locator" />
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    <link:loc xlink:label="loc_OperationsDisclosureTextBlock.23944.11.12" xlink:href="nvax-20130630.xsd#nvax_OperationsDisclosureTextBlock" xlink:type="locator" />
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    <link:loc xlink:label="loc_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract.1637.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:type="locator" />
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    <link:loc xlink:label="loc_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock.8793.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:type="locator" />
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    <link:loc xlink:label="loc_RangeMember.4366.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_RangeMember" xlink:type="locator" />
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    <link:loc xlink:label="loc_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable.4883.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTable" xlink:type="locator" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate.16956.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate" xlink:type="locator" />
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    <link:loc xlink:label="loc_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate.23955.11.6" xlink:href="nvax-20130630.xsd#nvax_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate" xlink:type="locator" />
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    <link:loc xlink:label="loc_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate.23955.11.12" xlink:href="nvax-20130630.xsd#nvax_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate" xlink:type="locator" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems.5072.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems" xlink:type="locator" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisePeriodFromDateOfGrant.23956.11.6" xlink:href="nvax-20130630.xsd#nvax_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisePeriodFromDateOfGrant" xlink:type="locator" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue.16970.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue" xlink:type="locator" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsMaximumTerm.23958.11.12" xlink:href="nvax-20130630.xsd#nvax_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsMaximumTerm" xlink:type="locator" />
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    <link:loc xlink:label="loc_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2.16219.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:type="locator" />
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    <link:loc xlink:label="loc_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2.16219.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2" xlink:type="locator" />
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    <link:loc xlink:label="loc_StatementScenarioAxis.5162.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StatementScenarioAxis" xlink:type="locator" />
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    <link:label xlink:label="lab_TwoZeroZeroFiveStockIncentivePlanMember.159049.208402" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_TwoZeroZeroFiveStockIncentivePlanMember.159049.208402">Two Zero Zero Five Stock Incentive Plan [Member]</link:label>
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    <link:label xlink:label="lab_TwoZeroZeroFiveStockIncentivePlanMember.159055.208403" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_TwoZeroZeroFiveStockIncentivePlanMember.159055.208403">2005 Stock Incentive Plan [Member]</link:label>
    <link:loc xlink:label="loc_TwoZeroZeroFiveStockIncentivePlanMember.23962.11.7" xlink:href="nvax-20130630.xsd#nvax_TwoZeroZeroFiveStockIncentivePlanMember" xlink:type="locator" />
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    <link:label xlink:label="lab_TwoZeroZeroFiveStockIncentivePlanMember7.159057.208404" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_TwoZeroZeroFiveStockIncentivePlanMember7.159057.208404">2005 Stock Incentive Plan [Member]</link:label>
    <link:loc xlink:label="loc_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1.16197.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1" xlink:type="locator" />
    <link:labelArc xlink:from="loc_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1.16197.11.7" xlink:to="SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1.159447.208405" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_AllocatedShareBasedCompensationExpense.5919.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:type="locator" />
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    <link:label xlink:label="lab_AllocatedShareBasedCompensationExpense.852.208406" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_AllocatedShareBasedCompensationExpense.852.208406">Allocated Share-based Compensation Expense</link:label>
    <link:loc xlink:label="loc_AllocatedShareBasedCompensationExpense.5919.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense" xlink:type="locator" />
    <link:labelArc xlink:from="loc_AllocatedShareBasedCompensationExpense.5919.11.7" xlink:to="lab_AllocatedShareBasedCompensationExpense7.159040.208407" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_AllocatedShareBasedCompensationExpense7.159040.208407" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_AllocatedShareBasedCompensationExpense7.159040.208407">Stock-based compensation expense</link:label>
    <link:loc xlink:label="loc_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems.1805.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems.1805.11.6" xlink:to="lab_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems.5595.208408" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems.5595.208408" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsLineItems.5595.208408">Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]</link:label>
    <link:loc xlink:label="loc_GeneralAndAdministrativeExpenseMember.2476.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_GeneralAndAdministrativeExpenseMember" xlink:type="locator" />
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    <link:label xlink:label="lab_GeneralAndAdministrativeExpenseMember.7876.208410" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_GeneralAndAdministrativeExpenseMember.7876.208410">General and Administrative Expense [Member]</link:label>
    <link:loc xlink:label="loc_GeneralAndAdministrativeExpenseMember.2476.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_GeneralAndAdministrativeExpenseMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_GeneralAndAdministrativeExpenseMember.2476.11.7" xlink:to="lab_GeneralAndAdministrativeExpenseMember7.159042.208411" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_GeneralAndAdministrativeExpenseMember7.159042.208411" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_GeneralAndAdministrativeExpenseMember7.159042.208411">General and administrative [Member]</link:label>
    <link:loc xlink:label="loc_IncomeStatementLocationAxis.2652.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_IncomeStatementLocationAxis.2652.11.6" xlink:to="lab_IncomeStatementLocationAxis.8839" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:label xlink:label="lab_IncomeStatementLocationDomain.8906" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_IncomeStatementLocationDomain.8906">Income Statement Location [Domain]</link:label>
    <link:loc xlink:label="loc_ResearchAndDevelopmentExpenseMember.4573.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ResearchAndDevelopmentExpenseMember" xlink:type="locator" />
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    <link:loc xlink:label="loc_ResearchAndDevelopmentExpenseMember.4573.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ResearchAndDevelopmentExpenseMember" xlink:type="locator" />
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    <link:label xlink:label="lab_ResearchAndDevelopmentExpenseMember7.159041.208413" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ResearchAndDevelopmentExpenseMember7.159041.208413">Research and development [Member]</link:label>
    <link:loc xlink:label="loc_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable.4815.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable.4815.11.6" xlink:to="lab_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTable.16738.208415" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:labelArc xlink:from="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant.16969.11.8" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant.160437.208417" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant.16969.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant.16969.11.6" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant.17518.208416" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:labelArc xlink:from="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber.16964.11.11" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber.159097.208419" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber.16964.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber.16964.11.6" xlink:to="lab_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber.17517.208418" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice.16947.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:type="locator" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice.16947.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice" xlink:type="locator" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod.16962.11.52" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:type="locator" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross.16909.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:type="locator" />
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    <link:loc xlink:label="loc_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross.16909.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:type="locator" />
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    <link:labelArc xlink:from="loc_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock.16476.11.7" xlink:to="lab_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock.158815.208349" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock.158815.208349" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock.158815.208349">Stock-Based Compensation Expense</link:label>
    <link:loc xlink:label="loc_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock.16476.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock.16476.11.6" xlink:to="lab_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock.16754.208348" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock.23954.11.6" xlink:href="nvax-20130630.xsd#nvax_ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock.23954.11.6" xlink:to="lab_ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock.158819.208350" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock.158819.208350" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock.158819.208350">Schedule Of Share Based Compensation Restricted Stock Awards Activity [Table Text Block]</link:label>
    <link:loc xlink:label="loc_ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock.23954.11.12" xlink:href="nvax-20130630.xsd#nvax_ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock.23954.11.12" xlink:to="lab_ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock.158820.208352" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock.23954.11.7" xlink:href="nvax-20130630.xsd#nvax_ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock.23954.11.7" xlink:to="lab_ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock.158822.208351" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock.158822.208351" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock.158822.208351">Summary of Restricted Stock Awards Activity</link:label>
    <link:loc xlink:label="loc_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock.16335.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock.16335.11.7" xlink:to="lab_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock.158817.208354" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock.158817.208354" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock.158817.208354">Summary of Option Activity</link:label>
    <link:loc xlink:label="loc_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock.16335.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock.16335.11.6" xlink:to="lab_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock.16559.208353" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock.16360.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock" xlink:type="locator" />
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    <link:loc xlink:label="loc_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock.16360.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock.16360.11.6" xlink:to="lab_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock.16593.208355" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_ComprehensiveIncomeNetOfTax.7190.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ComprehensiveIncomeNetOfTax.7190.11.9" xlink:to="lab_ComprehensiveIncomeNetOfTax.158315.208205" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ComprehensiveIncomeNetOfTax.158315.208205" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US" id="lab_ComprehensiveIncomeNetOfTax.158315.208205">Comprehensive loss</link:label>
    <link:loc xlink:label="loc_ComprehensiveIncomeNetOfTax.7190.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:type="locator" />
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    <link:label xlink:label="lab_ComprehensiveIncomeNetOfTax.2818.208204" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ComprehensiveIncomeNetOfTax.2818.208204">Comprehensive Income (Loss), Net of Tax, Attributable to Parent</link:label>
    <link:loc xlink:label="loc_ComprehensiveIncomeNetOfTaxAbstract.1128.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ComprehensiveIncomeNetOfTaxAbstract.1128.11.7" xlink:to="lab_ComprehensiveIncomeNetOfTaxAbstract.158535.208207" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ComprehensiveIncomeNetOfTaxAbstract.158535.208207" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ComprehensiveIncomeNetOfTaxAbstract.158535.208207">Comprehensive loss:</link:label>
    <link:loc xlink:label="loc_ComprehensiveIncomeNetOfTaxAbstract.1128.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAbstract" xlink:type="locator" />
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    <link:label xlink:label="lab_ComprehensiveIncomeNetOfTaxAbstract.2817.208206" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ComprehensiveIncomeNetOfTaxAbstract.2817.208206">Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]</link:label>
    <link:loc xlink:label="loc_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax.13897.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:type="locator" />
    <link:labelArc xlink:from="loc_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax.13897.11.6" xlink:to="lab_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax.12884.208208" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax.13897.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax" xlink:type="locator" />
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    <link:loc xlink:label="loc_SalesOfCommonStockAbstract.23953.11.12" xlink:href="nvax-20130630.xsd#nvax_SalesOfCommonStockAbstract" xlink:type="locator" />
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    <link:loc xlink:label="loc_SaleOfCommonStockDisclosureTextBlock.23952.11.6" xlink:href="nvax-20130630.xsd#nvax_SaleOfCommonStockDisclosureTextBlock" xlink:type="locator" />
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    <link:loc xlink:label="loc_SaleOfCommonStockDisclosureTextBlock.23952.11.12" xlink:href="nvax-20130630.xsd#nvax_SaleOfCommonStockDisclosureTextBlock" xlink:type="locator" />
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    <link:loc xlink:label="loc_SaleOfCommonStockDisclosureTextBlock.23952.11.7" xlink:href="nvax-20130630.xsd#nvax_SaleOfCommonStockDisclosureTextBlock" xlink:type="locator" />
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    <link:label xlink:label="lab_EquityIssuancePerShareAmount7.159677.208665" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_EquityIssuancePerShareAmount7.159677.208665">Equity issuance, price per share</link:label>
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    <link:loc xlink:label="loc_ProceedsFromIssuanceOrSaleOfEquity.14962.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ProceedsFromIssuanceOrSaleOfEquity" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ProceedsFromIssuanceOrSaleOfEquity.14962.11.7" xlink:to="lab_ProceedsFromIssuanceOrSaleOfEquity.159663.208667" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ProceedsFromIssuanceOrSaleOfEquity.159663.208667" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ProceedsFromIssuanceOrSaleOfEquity.159663.208667">Proceeds from direct offering</link:label>
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    <link:labelArc xlink:from="loc_StockIssuedDuringPeriodSharesNewIssues.17271.11.7" xlink:to="lab_StockIssuedDuringPeriodSharesNewIssues.159661.208669" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_StockIssuedDuringPeriodSharesNewIssues.159661.208669" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_StockIssuedDuringPeriodSharesNewIssues.159661.208669">Units issued in direct offering</link:label>
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    <link:label xlink:label="lab_ContractRevenueCost.2994.208168" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ContractRevenueCost.2994.208168">Contract Revenue Cost</link:label>
    <link:loc xlink:label="loc_ContractsRevenue.7301.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ContractsRevenue" xlink:type="locator" />
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    <link:loc xlink:label="loc_ContractsRevenue.7301.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ContractsRevenue" xlink:type="locator" />
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    <link:label xlink:label="lab_ContractsRevenue7.158875.208171" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ContractsRevenue7.158875.208171">Government contracts</link:label>
    <link:loc xlink:label="loc_CostsAndExpenses.7476.11.9" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CostsAndExpenses" xlink:type="locator" />
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    <link:loc xlink:label="loc_CostsAndExpensesAbstract.1259.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CostsAndExpensesAbstract" xlink:type="locator" />
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    <link:loc xlink:label="loc_ReclassificationFromAccountsPayableToLeaseIncentivesReceived.23948.11.6" xlink:href="nvax-20130630.xsd#nvax_ReclassificationFromAccountsPayableToLeaseIncentivesReceived" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ReclassificationFromAccountsPayableToLeaseIncentivesReceived.23948.11.6" xlink:to="lab_ReclassificationFromAccountsPayableToLeaseIncentivesReceived.508057.208362" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ReclassificationFromAccountsPayableToLeaseIncentivesReceived.508057.208362" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ReclassificationFromAccountsPayableToLeaseIncentivesReceived.508057.208362">Reclassification From Accounts Payable To Lease Incentives Received</link:label>
    <link:loc xlink:label="loc_ReclassificationFromAccountsPayableToLeaseIncentivesReceived.23948.11.12" xlink:href="nvax-20130630.xsd#nvax_ReclassificationFromAccountsPayableToLeaseIncentivesReceived" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ReclassificationFromAccountsPayableToLeaseIncentivesReceived.23948.11.12" xlink:to="lab_ReclassificationFromAccountsPayableToLeaseIncentivesReceived.508058.208364" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:loc xlink:label="loc_ReclassificationFromAccountsPayableToLeaseIncentivesReceived.23948.11.7" xlink:href="nvax-20130630.xsd#nvax_ReclassificationFromAccountsPayableToLeaseIncentivesReceived" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ReclassificationFromAccountsPayableToLeaseIncentivesReceived.23948.11.7" xlink:to="lab_ReclassificationFromAccountsPayableToLeaseIncentivesReceived.508060.208363" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ReclassificationFromAccountsPayableToLeaseIncentivesReceived.508060.208363" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ReclassificationFromAccountsPayableToLeaseIncentivesReceived.508060.208363">Reclassification of additional lease incentives</link:label>
    <link:loc xlink:label="loc_ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses.23949.11.6" xlink:href="nvax-20130630.xsd#nvax_ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses.23949.11.6" xlink:to="lab_ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses.508053.208365" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses.508053.208365" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses.508053.208365">Reclassification From General Administrative Expenses To Research Development Expenses</link:label>
    <link:loc xlink:label="loc_ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses.23949.11.12" xlink:href="nvax-20130630.xsd#nvax_ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses" xlink:type="locator" />
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    <link:label xlink:label="lab_ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses.508055.208367" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses.508055.208367">Reclassification of general and administrative expenses relating to patent and other costs to research and development expenses.</link:label>
    <link:loc xlink:label="loc_ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses.23949.11.7" xlink:href="nvax-20130630.xsd#nvax_ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses.23949.11.7" xlink:to="lab_ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses.508056.208366" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses.508056.208366" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses.508056.208366">Reclassification of general and administrative expenses</link:label>
    <link:loc xlink:label="loc_BasisOfAccountingPolicyPolicyTextBlock.6323.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_BasisOfAccountingPolicyPolicyTextBlock.6323.11.6" xlink:to="lab_BasisOfAccountingPolicyPolicyTextBlock.1458.208307" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_BasisOfAccountingPolicyPolicyTextBlock.1458.208307" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_BasisOfAccountingPolicyPolicyTextBlock.1458.208307">Basis of Accounting, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_BasisOfAccountingPolicyPolicyTextBlock.6323.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_BasisOfAccountingPolicyPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_BasisOfAccountingPolicyPolicyTextBlock.6323.11.7" xlink:to="lab_BasisOfAccountingPolicyPolicyTextBlock7.158806.208308" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_BasisOfAccountingPolicyPolicyTextBlock7.158806.208308" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_BasisOfAccountingPolicyPolicyTextBlock7.158806.208308">Basis of Presentation</link:label>
    <link:loc xlink:label="loc_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.6831.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.6831.11.7" xlink:to="lab_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.158802.208310" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.158802.208310" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.158802.208310">Restricted Cash</link:label>
    <link:loc xlink:label="loc_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.6831.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.6831.11.6" xlink:to="lab_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.2199.208309" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.2199.208309" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy.2199.208309">Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_EarningsPerSharePolicyTextBlock.9080.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EarningsPerSharePolicyTextBlock.9080.11.7" xlink:to="lab_EarningsPerSharePolicyTextBlock.158800.208312" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_EarningsPerSharePolicyTextBlock.158800.208312" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_EarningsPerSharePolicyTextBlock.158800.208312">Net Loss per Share</link:label>
    <link:loc xlink:label="loc_EarningsPerSharePolicyTextBlock.9080.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_EarningsPerSharePolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EarningsPerSharePolicyTextBlock.9080.11.6" xlink:to="lab_EarningsPerSharePolicyTextBlock.5427.208311" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_EarningsPerSharePolicyTextBlock.5427.208311" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_EarningsPerSharePolicyTextBlock.5427.208311">Earnings Per Share, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_FairValueMeasurementPolicyPolicyTextBlock.9608.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueMeasurementPolicyPolicyTextBlock.9608.11.7" xlink:to="lab_FairValueMeasurementPolicyPolicyTextBlock.158804.208314" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FairValueMeasurementPolicyPolicyTextBlock.158804.208314" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_FairValueMeasurementPolicyPolicyTextBlock.158804.208314">Fair Value Measurements</link:label>
    <link:loc xlink:label="loc_FairValueMeasurementPolicyPolicyTextBlock.9608.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_FairValueMeasurementPolicyPolicyTextBlock.9608.11.6" xlink:to="lab_FairValueMeasurementPolicyPolicyTextBlock.6214.208313" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_FairValueMeasurementPolicyPolicyTextBlock.6214.208313" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_FairValueMeasurementPolicyPolicyTextBlock.6214.208313">Fair Value Measurement, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_InvestmentPolicyTextBlock.11895.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InvestmentPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_InvestmentPolicyTextBlock.11895.11.7" xlink:to="lab_InvestmentPolicyTextBlock.495189.208316" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_InvestmentPolicyTextBlock.495189.208316" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_InvestmentPolicyTextBlock.495189.208316">Investments</link:label>
    <link:loc xlink:label="loc_InvestmentPolicyTextBlock.11895.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_InvestmentPolicyTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_InvestmentPolicyTextBlock.11895.11.6" xlink:to="lab_InvestmentPolicyTextBlock.9729.208315" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_InvestmentPolicyTextBlock.9729.208315" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_InvestmentPolicyTextBlock.9729.208315">Investment, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_PriorPeriodReclassificationAdjustmentDescription.14858.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PriorPeriodReclassificationAdjustmentDescription.14858.11.6" xlink:to="lab_PriorPeriodReclassificationAdjustmentDescription.14343.208317" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PriorPeriodReclassificationAdjustmentDescription.14343.208317" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PriorPeriodReclassificationAdjustmentDescription.14343.208317">Reclassification, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_PriorPeriodReclassificationAdjustmentDescription.14858.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PriorPeriodReclassificationAdjustmentDescription" xlink:type="locator" />
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    <link:label xlink:label="lab_Reclassificationandpresentation.495198.208318" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_Reclassificationandpresentation.495198.208318">Reclassifications</link:label>
    <link:loc xlink:label="loc_UseOfEstimates.17889.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_UseOfEstimates" xlink:type="locator" />
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    <link:label xlink:label="lab_UseOfEstimates.158805.208320" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_UseOfEstimates.158805.208320">Use of Estimates</link:label>
    <link:loc xlink:label="loc_UseOfEstimates.17889.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_UseOfEstimates" xlink:type="locator" />
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    <link:label xlink:label="lab_UseOfEstimates.18953.208319" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_UseOfEstimates.18953.208319">Use of Estimates, Policy [Policy Text Block]</link:label>
    <link:loc xlink:label="loc_PaymentsOfStockIssuanceCosts.14360.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsOfStockIssuanceCosts" xlink:type="locator" />
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    <link:label xlink:label="lab_PaymentsOfStockIssuanceCosts.13507.208294" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PaymentsOfStockIssuanceCosts.13507.208294">Payments of Stock Issuance Costs</link:label>
    <link:loc xlink:label="loc_PaymentsOfStockIssuanceCosts.14360.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_PaymentsOfStockIssuanceCosts" xlink:type="locator" />
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    <link:label xlink:label="lab_PaymentsOfStockIssuanceCosts.158712.208295" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_PaymentsOfStockIssuanceCosts.158712.208295">Net proceeds from sales of common stock, offering costs</link:label>
    <link:loc xlink:label="loc_CollaborativeArrangementDisclosureTextBlock.7097.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CollaborativeArrangementDisclosureTextBlock" xlink:type="locator" />
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    <link:label xlink:label="lab_CollaborativeArrangementDisclosureTextBlock.158740.208325" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_CollaborativeArrangementDisclosureTextBlock.158740.208325">U.S. Government Agreement and Collaboration</link:label>
    <link:loc xlink:label="loc_CollaborativeArrangementDisclosureTextBlock.7097.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CollaborativeArrangementDisclosureTextBlock" xlink:type="locator" />
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    <link:loc xlink:label="loc_ArrangementsAndNonarrangementTransactionsMember.373.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ArrangementsAndNonarrangementTransactionsMember" xlink:type="locator" />
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    <link:loc xlink:label="loc_ClinicalTrialCostsIncurred.23919.11.6" xlink:href="nvax-20130630.xsd#nvax_ClinicalTrialCostsIncurred" xlink:type="locator" />
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    <link:loc xlink:label="loc_ClinicalTrialCostsIncurred.23919.11.12" xlink:href="nvax-20130630.xsd#nvax_ClinicalTrialCostsIncurred" xlink:type="locator" />
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    <link:label xlink:label="lab_ClinicalTrialCostsIncurred.174663.208499" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_ClinicalTrialCostsIncurred.174663.208499">Total clinical trial costs incurred.</link:label>
    <link:loc xlink:label="loc_ClinicalTrialCostsIncurred.23919.11.7" xlink:href="nvax-20130630.xsd#nvax_ClinicalTrialCostsIncurred" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ClinicalTrialCostsIncurred.23919.11.7" xlink:to="lab_ClinicalTrialCostsIncurred7.174155.208500" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ClinicalTrialCostsIncurred7.174155.208500" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ClinicalTrialCostsIncurred7.174155.208500">Trial costs incurred</link:label>
    <link:loc xlink:label="loc_CollaborativeArrangementsAndNoncollaborativeArrangementTransactionsLineItems.1044.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_CollaborativeArrangementsAndNoncollaborativeArrangementTransactionsLineItems" xlink:type="locator" />
    <link:labelArc xlink:from="loc_CollaborativeArrangementsAndNoncollaborativeArrangementTransactionsLineItems.1044.11.6" xlink:to="lab_CollaborativeArrangementsAndNoncollaborativeArrangementTransactionsLineItems.2609.208502" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CollaborativeArrangementsAndNoncollaborativeArrangementTransactionsLineItems.2609.208502" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_CollaborativeArrangementsAndNoncollaborativeArrangementTransactionsLineItems.2609.208502">Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]</link:label>
    <link:loc xlink:label="loc_UsGovernmentAgreementAndCollaborationsAbstract.23964.11.12" xlink:href="nvax-20130630.xsd#nvax_UsGovernmentAgreementAndCollaborationsAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_UsGovernmentAgreementAndCollaborationsAbstract.23964.11.12" xlink:to="lab_CollaborativeArrangementsDisclosureAbstract.158739.208326" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_CollaborativeArrangementsDisclosureAbstract.158739.208326" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_CollaborativeArrangementsDisclosureAbstract.158739.208326">Collaborative Arrangements Disclosure [Abstract].</link:label>
    <link:loc xlink:label="loc_ContractTerm.23923.11.6" xlink:href="nvax-20130630.xsd#nvax_ContractTerm" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ContractTerm.23923.11.6" xlink:to="lab_ContractTerm.160359.208504" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ContractTerm.160359.208504" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ContractTerm.160359.208504">Contract Term</link:label>
    <link:loc xlink:label="loc_ContractTerm.23923.11.12" xlink:href="nvax-20130630.xsd#nvax_ContractTerm" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ContractTerm.23923.11.12" xlink:to="lab_ContractTerm.160368.208505" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ContractTerm.160368.208505" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_ContractTerm.160368.208505">Contract Term</link:label>
    <link:loc xlink:label="loc_ContractTerm.23923.11.7" xlink:href="nvax-20130630.xsd#nvax_ContractTerm" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ContractTerm.23923.11.7" xlink:to="lab_ContractTerm7.160369.208506" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ContractTerm7.160369.208506" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ContractTerm7.160369.208506">Contract term</link:label>
    <link:loc xlink:label="loc_EquityMethodInvesteeNameDomain.1871.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_EquityMethodInvesteeNameDomain" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EquityMethodInvesteeNameDomain.1871.11.6" xlink:to="lab_EquityMethodInvesteeNameDomain.5832.208645" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_EquityMethodInvesteeNameDomain.5832.208645" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_EquityMethodInvesteeNameDomain.5832.208645">Equity Method Investee, Name [Domain]</link:label>
    <link:loc xlink:label="loc_EquityMethodInvesteeOneMember.23927.11.6" xlink:href="nvax-20130630.xsd#nvax_EquityMethodInvesteeOneMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EquityMethodInvesteeOneMember.23927.11.6" xlink:to="lab_EquityMethodInvesteeOneMember.508043.208646" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_EquityMethodInvesteeOneMember.508043.208646" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_EquityMethodInvesteeOneMember.508043.208646">Equity Method Investee One [Member]</link:label>
    <link:loc xlink:label="loc_EquityMethodInvesteeOneMember.23927.11.12" xlink:href="nvax-20130630.xsd#nvax_EquityMethodInvesteeOneMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EquityMethodInvesteeOneMember.23927.11.12" xlink:to="lab_EquityMethodInvesteeOneMember.508044.208648" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_EquityMethodInvesteeOneMember.508044.208648" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_EquityMethodInvesteeOneMember.508044.208648">Equity Method Investee One Member.</link:label>
    <link:loc xlink:label="loc_EquityMethodInvesteeOneMember.23927.11.7" xlink:href="nvax-20130630.xsd#nvax_EquityMethodInvesteeOneMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EquityMethodInvesteeOneMember.23927.11.7" xlink:to="lab_EquityMethodInvesteeOneMember.508045.208647" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_EquityMethodInvesteeOneMember.508045.208647" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_EquityMethodInvesteeOneMember.508045.208647">Cadila [Member]</link:label>
    <link:loc xlink:label="loc_EquityMethodInvestmentOwnershipPercentage.9324.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EquityMethodInvestmentOwnershipPercentage.9324.11.6" xlink:to="lab_EquityMethodInvestmentOwnershipPercentage.6081" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_EquityMethodInvestmentOwnershipPercentage.6081" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_EquityMethodInvestmentOwnershipPercentage.6081">Equity Method Investment, Ownership Percentage</link:label>
    <link:loc xlink:label="loc_EquityMethodInvestmentOwnershipPercentage.9324.11.20" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_EquityMethodInvestmentOwnershipPercentage" xlink:type="locator" />
    <link:labelArc xlink:from="loc_EquityMethodInvestmentOwnershipPercentage.9324.11.20" xlink:to="lab_EquityMethodInvestmentOwnershipPercentage20.236064" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_EquityMethodInvestmentOwnershipPercentage20.236064" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US" id="lab_EquityMethodInvestmentOwnershipPercentage20.236064">Ownership percentage</link:label>
    <link:loc xlink:label="loc_ExpectedClinicalTrialCosts.23928.11.6" xlink:href="nvax-20130630.xsd#nvax_ExpectedClinicalTrialCosts" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ExpectedClinicalTrialCosts.23928.11.6" xlink:to="lab_ExpectedClinicalTrialCosts.159534.208507" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ExpectedClinicalTrialCosts.159534.208507" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ExpectedClinicalTrialCosts.159534.208507">Expected Clinical Trial Costs</link:label>
    <link:loc xlink:label="loc_ExpectedClinicalTrialCosts.23928.11.12" xlink:href="nvax-20130630.xsd#nvax_ExpectedClinicalTrialCosts" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ExpectedClinicalTrialCosts.23928.11.12" xlink:to="lab_ExpectedClinicalTrialCosts.159537.208508" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ExpectedClinicalTrialCosts.159537.208508" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_ExpectedClinicalTrialCosts.159537.208508">Total expected clinical trial costs.</link:label>
    <link:loc xlink:label="loc_GovernmentContractReceivable.10758.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_GovernmentContractReceivable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_GovernmentContractReceivable.10758.11.6" xlink:to="lab_GovernmentContractReceivable.7961.208509" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_GovernmentContractReceivable.7961.208509" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_GovernmentContractReceivable.7961.208509">Government Contract Receivable</link:label>
    <link:loc xlink:label="loc_GovernmentContractReceivable.10758.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_GovernmentContractReceivable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_GovernmentContractReceivable.10758.11.7" xlink:to="lab_GovernmentContractReceivable7.159497.208510" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_GovernmentContractReceivable7.159497.208510" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_GovernmentContractReceivable7.159497.208510">Contract receivable</link:label>
    <link:loc xlink:label="loc_GovernmentContractReceivableIncrease.27086.11.6" xlink:href="nvax-20130630.xsd#nvax_GovernmentContractReceivableIncrease" xlink:type="locator" />
    <link:labelArc xlink:from="loc_GovernmentContractReceivableIncrease.27086.11.6" xlink:to="lab_GovernmentContractReceivableIncrease.236866" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_GovernmentContractReceivableIncrease.236866" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_GovernmentContractReceivableIncrease.236866">Government Contract Receivable Increase</link:label>
    <link:loc xlink:label="loc_GovernmentContractReceivableIncrease.27086.11.12" xlink:href="nvax-20130630.xsd#nvax_GovernmentContractReceivableIncrease" xlink:type="locator" />
    <link:labelArc xlink:from="loc_GovernmentContractReceivableIncrease.27086.11.12" xlink:to="lab_GovernmentContractReceivableIncrease12.236867" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_GovernmentContractReceivableIncrease12.236867" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_GovernmentContractReceivableIncrease12.236867">Government Contract Receivable Increase</link:label>
    <link:loc xlink:label="loc_GovernmentContractReceivableIncrease.27086.11.7" xlink:href="nvax-20130630.xsd#nvax_GovernmentContractReceivableIncrease" xlink:type="locator" />
    <link:labelArc xlink:from="loc_GovernmentContractReceivableIncrease.27086.11.7" xlink:to="lab_GovernmentContractReceivableIncrease7.236868" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_GovernmentContractReceivableIncrease7.236868" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_GovernmentContractReceivableIncrease7.236868">Increase contract receivable</link:label>
    <link:loc xlink:label="loc_HhsBardaContractAwardMember.23929.11.6" xlink:href="nvax-20130630.xsd#nvax_HhsBardaContractAwardMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_HhsBardaContractAwardMember.23929.11.6" xlink:to="lab_HhsBardaContractAwardMember.159498.208511" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_HhsBardaContractAwardMember.159498.208511" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_HhsBardaContractAwardMember.159498.208511">Hhs Barda Contract Award [Member]</link:label>
    <link:loc xlink:label="loc_HhsBardaContractAwardMember.23929.11.12" xlink:href="nvax-20130630.xsd#nvax_HhsBardaContractAwardMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_HhsBardaContractAwardMember.23929.11.12" xlink:to="lab_HhsBardaContractAwardMember.159499.208512" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_HhsBardaContractAwardMember.159499.208512" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_HhsBardaContractAwardMember.159499.208512">HHS BARDA Contract Award [Member]</link:label>
    <link:loc xlink:label="loc_HhsBardaContractAwardMember.23929.11.7" xlink:href="nvax-20130630.xsd#nvax_HhsBardaContractAwardMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_HhsBardaContractAwardMember.23929.11.7" xlink:to="lab_HhsBardaContractAwardMember7.159500.208513" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_HhsBardaContractAwardMember7.159500.208513" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_HhsBardaContractAwardMember7.159500.208513">HHS BARDA Contract [Member]</link:label>
    <link:loc xlink:label="loc_HhsBardaOptionForAdditionalPeriodMember.23930.11.6" xlink:href="nvax-20130630.xsd#nvax_HhsBardaOptionForAdditionalPeriodMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_HhsBardaOptionForAdditionalPeriodMember.23930.11.6" xlink:to="lab_HhsBardaOptionForAdditionalPeriodMember.159501.208514" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_HhsBardaOptionForAdditionalPeriodMember.159501.208514" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_HhsBardaOptionForAdditionalPeriodMember.159501.208514">Hhs Barda Option For Additional Period [Member]</link:label>
    <link:loc xlink:label="loc_HhsBardaOptionForAdditionalPeriodMember.23930.11.12" xlink:href="nvax-20130630.xsd#nvax_HhsBardaOptionForAdditionalPeriodMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_HhsBardaOptionForAdditionalPeriodMember.23930.11.12" xlink:to="lab_HhsBardaOptionForAdditionalPeriodMember.159504.208515" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_HhsBardaOptionForAdditionalPeriodMember.159504.208515" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_HhsBardaOptionForAdditionalPeriodMember.159504.208515">HHS Barda Option For Additional Period [Member]</link:label>
    <link:loc xlink:label="loc_HhsBardaOptionForAdditionalPeriodMember.23930.11.7" xlink:href="nvax-20130630.xsd#nvax_HhsBardaOptionForAdditionalPeriodMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_HhsBardaOptionForAdditionalPeriodMember.23930.11.7" xlink:to="lab_HhsBardaOptionForAdditionalPeriodMember7.159508.208516" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_HhsBardaOptionForAdditionalPeriodMember7.159508.208516" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_HhsBardaOptionForAdditionalPeriodMember7.159508.208516">HHS BARDA Option for Additional Period [Member]</link:label>
    <link:loc xlink:label="loc_JointVenturePercentageOwnedByOthers.23931.11.20" xlink:href="nvax-20130630.xsd#nvax_JointVenturePercentageOwnedByOthers" xlink:type="locator" />
    <link:labelArc xlink:from="loc_JointVenturePercentageOwnedByOthers.23931.11.20" xlink:to="lab_JointVenturePercentageOwnedByOthers.245105" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_JointVenturePercentageOwnedByOthers.245105" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US" id="lab_JointVenturePercentageOwnedByOthers.245105">Joint Venture Percentage Owned By Others</link:label>
    <link:loc xlink:label="loc_JointVenturePercentageOwnedByOthers.23931.11.6" xlink:href="nvax-20130630.xsd#nvax_JointVenturePercentageOwnedByOthers" xlink:type="locator" />
    <link:labelArc xlink:from="loc_JointVenturePercentageOwnedByOthers.23931.11.6" xlink:to="lab_JointVenturePercentageOwnedByOthers.158892.208649" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_JointVenturePercentageOwnedByOthers.158892.208649" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_JointVenturePercentageOwnedByOthers.158892.208649">Joint Venture Percentage Owned By Others</link:label>
    <link:loc xlink:label="loc_JointVenturePercentageOwnedByOthers.23931.11.12" xlink:href="nvax-20130630.xsd#nvax_JointVenturePercentageOwnedByOthers" xlink:type="locator" />
    <link:labelArc xlink:from="loc_JointVenturePercentageOwnedByOthers.23931.11.12" xlink:to="lab_JointVenturePercentageOwnedByOthers.158898.208651" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_JointVenturePercentageOwnedByOthers.158898.208651" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_JointVenturePercentageOwnedByOthers.158898.208651">The percentage of the joint venture owned by others.</link:label>
    <link:loc xlink:label="loc_LicenseAgreementWithLgLifeSciencesLtdMember.23933.11.6" xlink:href="nvax-20130630.xsd#nvax_LicenseAgreementWithLgLifeSciencesLtdMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LicenseAgreementWithLgLifeSciencesLtdMember.23933.11.6" xlink:to="lab_LicenseAgreementWithLgLifeSciencesLtdMember.159514.208517" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LicenseAgreementWithLgLifeSciencesLtdMember.159514.208517" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_LicenseAgreementWithLgLifeSciencesLtdMember.159514.208517">License Agreement With Lg Life Sciences Ltd [Member]</link:label>
    <link:loc xlink:label="loc_LicenseAgreementWithLgLifeSciencesLtdMember.23933.11.12" xlink:href="nvax-20130630.xsd#nvax_LicenseAgreementWithLgLifeSciencesLtdMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LicenseAgreementWithLgLifeSciencesLtdMember.23933.11.12" xlink:to="lab_LicenseAgreementWithLgLifeSciencesLtdMember.159515.208518" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LicenseAgreementWithLgLifeSciencesLtdMember.159515.208518" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_LicenseAgreementWithLgLifeSciencesLtdMember.159515.208518">License Agreement with LG Life Sciences, Ltd. [Member]</link:label>
    <link:loc xlink:label="loc_LicenseAgreementWithLgLifeSciencesLtdMember.23933.11.7" xlink:href="nvax-20130630.xsd#nvax_LicenseAgreementWithLgLifeSciencesLtdMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_LicenseAgreementWithLgLifeSciencesLtdMember.23933.11.7" xlink:to="lab_LicenseAgreementWithLgLifeSciencesLtdMember7.159516.208519" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_LicenseAgreementWithLgLifeSciencesLtdMember7.159516.208519" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_LicenseAgreementWithLgLifeSciencesLtdMember7.159516.208519">License Agreement with LG Life Sciences, Ltd. [Member]</link:label>
    <link:loc xlink:label="loc_RoyaltyPaymentsPercentOfFutureProductSales.23951.11.7" xlink:href="nvax-20130630.xsd#nvax_RoyaltyPaymentsPercentOfFutureProductSales" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RoyaltyPaymentsPercentOfFutureProductSales.23951.11.7" xlink:to="lab_MilestonesAndRoyaltyPaymentsPercentOfFutureProductSales7.159560.208520" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_MilestonesAndRoyaltyPaymentsPercentOfFutureProductSales7.159560.208520" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_MilestonesAndRoyaltyPaymentsPercentOfFutureProductSales7.159560.208520">Royalty payments, percent</link:label>
    <link:loc xlink:label="loc_PathVaccineSolutionsMember.23945.11.6" xlink:href="nvax-20130630.xsd#nvax_PathVaccineSolutionsMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PathVaccineSolutionsMember.23945.11.6" xlink:to="lab_PathVaccineSolutionsMember.159517.208521" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PathVaccineSolutionsMember.159517.208521" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PathVaccineSolutionsMember.159517.208521">Path Vaccine Solutions [Member]</link:label>
    <link:loc xlink:label="loc_PathVaccineSolutionsMember.23945.11.12" xlink:href="nvax-20130630.xsd#nvax_PathVaccineSolutionsMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PathVaccineSolutionsMember.23945.11.12" xlink:to="lab_PathVaccineSolutionsMember.159520.208522" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PathVaccineSolutionsMember.159520.208522" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_PathVaccineSolutionsMember.159520.208522">PATH Vaccine Solutions [Member]</link:label>
    <link:loc xlink:label="loc_PathVaccineSolutionsMember.23945.11.7" xlink:href="nvax-20130630.xsd#nvax_PathVaccineSolutionsMember" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PathVaccineSolutionsMember.23945.11.7" xlink:to="lab_PathVaccineSolutionsMember7.159521.208523" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PathVaccineSolutionsMember7.159521.208523" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_PathVaccineSolutionsMember7.159521.208523">PATH Vaccine Solutions [Member]</link:label>
    <link:loc xlink:label="loc_PotentialProvidedFundingOfExternalClinicalDevelopmentCostsPercent.23946.11.6" xlink:href="nvax-20130630.xsd#nvax_PotentialProvidedFundingOfExternalClinicalDevelopmentCostsPercent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PotentialProvidedFundingOfExternalClinicalDevelopmentCostsPercent.23946.11.6" xlink:to="lab_PotentialProvidedFundingOfExternalClinicalDevelopmentCostsPercent.159561.208524" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PotentialProvidedFundingOfExternalClinicalDevelopmentCostsPercent.159561.208524" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_PotentialProvidedFundingOfExternalClinicalDevelopmentCostsPercent.159561.208524">Potential Provided Funding Of External Clinical Development Costs Percent</link:label>
    <link:loc xlink:label="loc_PotentialProvidedFundingOfExternalClinicalDevelopmentCostsPercent.23946.11.12" xlink:href="nvax-20130630.xsd#nvax_PotentialProvidedFundingOfExternalClinicalDevelopmentCostsPercent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PotentialProvidedFundingOfExternalClinicalDevelopmentCostsPercent.23946.11.12" xlink:to="lab_PotentialProvidedFundingOfExternalClinicalDevelopmentCostsPercent.174153.208525" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PotentialProvidedFundingOfExternalClinicalDevelopmentCostsPercent.174153.208525" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_PotentialProvidedFundingOfExternalClinicalDevelopmentCostsPercent.174153.208525">The precentage of potential provided fuding of external clinical development costs.</link:label>
    <link:loc xlink:label="loc_PotentialProvidedFundingOfExternalClinicalDevelopmentCostsPercent.23946.11.7" xlink:href="nvax-20130630.xsd#nvax_PotentialProvidedFundingOfExternalClinicalDevelopmentCostsPercent" xlink:type="locator" />
    <link:labelArc xlink:from="loc_PotentialProvidedFundingOfExternalClinicalDevelopmentCostsPercent.23946.11.7" xlink:to="lab_PotentialProvidedFundingOfExternalClinicalDevelopmentCostsPercent7.159566.208526" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_PotentialProvidedFundingOfExternalClinicalDevelopmentCostsPercent7.159566.208526" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_PotentialProvidedFundingOfExternalClinicalDevelopmentCostsPercent7.159566.208526">Potential funding of external clinical development costs</link:label>
    <link:loc xlink:label="loc_ExpectedClinicalTrialCosts.23928.11.7" xlink:href="nvax-20130630.xsd#nvax_ExpectedClinicalTrialCosts" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ExpectedClinicalTrialCosts.23928.11.7" xlink:to="lab_ResearchAndDevelopmentArrangementWithFederalGovernmentTotalExpectedCosts7.159540.208529" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ResearchAndDevelopmentArrangementWithFederalGovernmentTotalExpectedCosts7.159540.208529" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ResearchAndDevelopmentArrangementWithFederalGovernmentTotalExpectedCosts7.159540.208529">Expected costs</link:label>
    <link:loc xlink:label="loc_ResearchAndDevelopmentCollaborationIncrease.28056.11.6" xlink:href="nvax-20130630.xsd#nvax_ResearchAndDevelopmentCollaborationIncrease" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ResearchAndDevelopmentCollaborationIncrease.28056.11.6" xlink:to="lab_ResearchAndDevelopmentCollaborationIncrease.245106" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ResearchAndDevelopmentCollaborationIncrease.245106" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ResearchAndDevelopmentCollaborationIncrease.245106">Research And Development Collaboration Increase</link:label>
    <link:loc xlink:label="loc_ResearchAndDevelopmentCollaborationIncrease.28056.11.12" xlink:href="nvax-20130630.xsd#nvax_ResearchAndDevelopmentCollaborationIncrease" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ResearchAndDevelopmentCollaborationIncrease.28056.11.12" xlink:to="lab_ResearchAndDevelopmentCollaborationIncrease12.245107" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ResearchAndDevelopmentCollaborationIncrease12.245107" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_ResearchAndDevelopmentCollaborationIncrease12.245107">Research And Development Collaboration Increase</link:label>
    <link:loc xlink:label="loc_ResearchAndDevelopmentCollaborationIncrease.28056.11.7" xlink:href="nvax-20130630.xsd#nvax_ResearchAndDevelopmentCollaborationIncrease" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ResearchAndDevelopmentCollaborationIncrease.28056.11.7" xlink:to="lab_ResearchAndDevelopmentCollaborationIncrease7.245108" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ResearchAndDevelopmentCollaborationIncrease7.245108" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ResearchAndDevelopmentCollaborationIncrease7.245108">Research and development collaboration increase</link:label>
    <link:loc xlink:label="loc_RoyaltyPaymentsPercentOfFutureProductSales.23951.11.6" xlink:href="nvax-20130630.xsd#nvax_RoyaltyPaymentsPercentOfFutureProductSales" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RoyaltyPaymentsPercentOfFutureProductSales.23951.11.6" xlink:to="lab_RoyaltyPaymentsPercentOfFutureProductSales.159552.208530" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RoyaltyPaymentsPercentOfFutureProductSales.159552.208530" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_RoyaltyPaymentsPercentOfFutureProductSales.159552.208530">Royalty Payments Percent Of Future Product Sales</link:label>
    <link:loc xlink:label="loc_RoyaltyPaymentsPercentOfFutureProductSales.23951.11.12" xlink:href="nvax-20130630.xsd#nvax_RoyaltyPaymentsPercentOfFutureProductSales" xlink:type="locator" />
    <link:labelArc xlink:from="loc_RoyaltyPaymentsPercentOfFutureProductSales.23951.11.12" xlink:to="lab_RoyaltyPaymentsPercentOfFutureProductSales.159559.208531" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_RoyaltyPaymentsPercentOfFutureProductSales.159559.208531" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_RoyaltyPaymentsPercentOfFutureProductSales.159559.208531">Royalty payments as a percent of future product sales.</link:label>
    <link:loc xlink:label="loc_ScheduleOfCollaborativeArrangementsAndNoncollaborativeArrangementTransactionsTable.4810.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfCollaborativeArrangementsAndNoncollaborativeArrangementTransactionsTable" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfCollaborativeArrangementsAndNoncollaborativeArrangementTransactionsTable.4810.11.6" xlink:to="lab_ScheduleOfCollaborativeArrangementsAndNoncollaborativeArrangementTransactionsTable.16712.208532" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfCollaborativeArrangementsAndNoncollaborativeArrangementTransactionsTable.16712.208532" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfCollaborativeArrangementsAndNoncollaborativeArrangementTransactionsTable.16712.208532">Schedule of Collaborative Arrangements and Non-collaborative Arrangement Transactions [Table]</link:label>
    <link:loc xlink:label="loc_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis.4820.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis.4820.11.6" xlink:to="lab_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis.16777.208652" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis.16777.208652" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis.16777.208652">Equity Method Investee, Name [Axis]</link:label>
    <link:loc xlink:label="loc_TypeOfArrangementAxis.5386.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_TypeOfArrangementAxis" xlink:type="locator" />
    <link:labelArc xlink:from="loc_TypeOfArrangementAxis.5386.11.6" xlink:to="lab_TypeOfArrangementAxis.19407" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_TypeOfArrangementAxis.19407" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_TypeOfArrangementAxis.19407">Type of Arrangement and Non-arrangement Transactions [Axis]</link:label>
    <link:loc xlink:label="loc_UpfrontLicensePayment.23963.11.6" xlink:href="nvax-20130630.xsd#nvax_UpfrontLicensePayment" xlink:type="locator" />
    <link:labelArc xlink:from="loc_UpfrontLicensePayment.23963.11.6" xlink:to="lab_UpfrontLicensePayment.159544.208533" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_UpfrontLicensePayment.159544.208533" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_UpfrontLicensePayment.159544.208533">Upfront License Payment</link:label>
    <link:loc xlink:label="loc_UpfrontLicensePayment.23963.11.12" xlink:href="nvax-20130630.xsd#nvax_UpfrontLicensePayment" xlink:type="locator" />
    <link:labelArc xlink:from="loc_UpfrontLicensePayment.23963.11.12" xlink:to="lab_UpfrontLicensePayment.159547.208534" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_UpfrontLicensePayment.159547.208534" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_UpfrontLicensePayment.159547.208534">Upfront License Payment</link:label>
    <link:loc xlink:label="loc_UpfrontLicensePayment.23963.11.7" xlink:href="nvax-20130630.xsd#nvax_UpfrontLicensePayment" xlink:type="locator" />
    <link:labelArc xlink:from="loc_UpfrontLicensePayment.23963.11.7" xlink:to="lab_UpfrontLicensePayment7.159549.208535" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_UpfrontLicensePayment7.159549.208535" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_UpfrontLicensePayment7.159549.208535">Upfront license payment</link:label>
    <link:loc xlink:label="loc_UsGovernmentAgreementAndCollaborationsAbstract.23964.11.6" xlink:href="nvax-20130630.xsd#nvax_UsGovernmentAgreementAndCollaborationsAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_UsGovernmentAgreementAndCollaborationsAbstract.23964.11.6" xlink:to="lab_UsGovernmentAgreementAndCollaborationsAbstract.158738.208327" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_UsGovernmentAgreementAndCollaborationsAbstract.158738.208327" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_UsGovernmentAgreementAndCollaborationsAbstract.158738.208327">U.S. Government Agreement and Collaborations [Abstract]</link:label>
    <link:loc xlink:label="loc_StockWarrantsTextBlock.23959.11.6" xlink:href="nvax-20130630.xsd#nvax_StockWarrantsTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_StockWarrantsTextBlock.23959.11.6" xlink:to="lab_StockWarrantsTextBlock.158747.208331" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_StockWarrantsTextBlock.158747.208331" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_StockWarrantsTextBlock.158747.208331">Stock Warrants [Text Block]</link:label>
    <link:loc xlink:label="loc_StockWarrantsTextBlock.23959.11.12" xlink:href="nvax-20130630.xsd#nvax_StockWarrantsTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_StockWarrantsTextBlock.23959.11.12" xlink:to="lab_StockWarrantsTextBlock.158748.208333" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_StockWarrantsTextBlock.158748.208333" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_StockWarrantsTextBlock.158748.208333">Stock Warrant Disclosure</link:label>
    <link:loc xlink:label="loc_StockWarrantsTextBlock.23959.11.7" xlink:href="nvax-20130630.xsd#nvax_StockWarrantsTextBlock" xlink:type="locator" />
    <link:labelArc xlink:from="loc_StockWarrantsTextBlock.23959.11.7" xlink:to="lab_StockWarrantsTextBlock.158749.208332" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_StockWarrantsTextBlock.158749.208332" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_StockWarrantsTextBlock.158749.208332">Warrant Liability</link:label>
    <link:loc xlink:label="loc_WarrantLiabilityAbstract.23965.11.6" xlink:href="nvax-20130630.xsd#nvax_WarrantLiabilityAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_WarrantLiabilityAbstract.23965.11.6" xlink:to="lab_WarrantLiabilityAbstract.158745.208334" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_WarrantLiabilityAbstract.158745.208334" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_WarrantLiabilityAbstract.158745.208334">Warrant Liability [Abstract]</link:label>
    <link:loc xlink:label="loc_WarrantLiabilityAbstract.23965.11.12" xlink:href="nvax-20130630.xsd#nvax_WarrantLiabilityAbstract" xlink:type="locator" />
    <link:labelArc xlink:from="loc_WarrantLiabilityAbstract.23965.11.12" xlink:to="lab_WarrantLiabilityAbstract.158746.208335" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_WarrantLiabilityAbstract.158746.208335" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US" id="lab_WarrantLiabilityAbstract.158746.208335">Warrant Liability [Abstract]</link:label>
    <link:loc xlink:label="loc_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights.7037.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights.7037.11.7" xlink:to="lab_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights.159680.208567" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights.159680.208567" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US" id="lab_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights.159680.208567">Exercise price of warrants</link:label>
    <link:loc xlink:label="loc_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights.7037.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights.7037.11.6" xlink:to="lab_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights.2536.208566" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
    <link:label xlink:label="lab_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights.2536.208566" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights.2536.208566">Class of Warrant or Right, Exercise Price of Warrants or Rights</link:label>
    <link:loc xlink:label="loc_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight.7038.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight" xlink:type="locator" />
    <link:labelArc xlink:from="loc_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight.7038.11.6" xlink:to="lab_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight.2648" order="1" priority="0" use="optional" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:type="arc" />
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    <link:label xlink:label="lab_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights.2538.208571" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights.2538.208571">Class of Warrant or Right, Number of Securities Called by Warrants or Rights</link:label>
    <link:loc xlink:label="loc_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights.7036.11.7" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xlink:type="locator" />
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    <link:loc xlink:label="loc_StockholdersEquityNoteAbstract.5200.11.6" xlink:href="http://xbrl.fasb.org/us-gaap/2013/elts/us-gaap-2013-01-31.xsd#us-gaap_StockholdersEquityNoteAbstract" xlink:type="locator" />
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    <link:label xlink:label="lab_NovavaxSharesIssued.245233" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US" id="lab_NovavaxSharesIssued.245233">Novavax Shares Issued</link:label>
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</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>12
<FILENAME>nvax-20130630_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
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<!--produced on 2013-08-07 @ 11:25 PM-->
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</LabelSeparator><Level>5</Level><ElementName>us-gaap_IncreaseDecreaseInRestrictedCash</ElementName><ElementPrefix>us-gaap_</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>credit</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>true</IsReverseSign><PreferredLabelRole>negatedLabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" UnitID="USD"><Id>1</Id><IsNumeric>true</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>986000</NumericAmount><RoundedNumericAmount>986</RoundedNumericAmount><NonNumbericText /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell><Cell FlagID="0" ContextID="from-2012-01-01-to-2012-06-30.525.0.0.0.0.0.0.0" UnitID="USD"><Id>2</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&amp;nbsp;&amp;nbsp;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>xbrli:monetaryItemType</ElementDataType><SimpleDataType>monetary</SimpleDataType><ElementDefenition>The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

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Reference 2: http://www.xbrl.org/2003/role/presentationRef

 -Publisher FASB

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

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 -Publisher FASB

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 -Publisher FASB

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          <div>Jun. 30, 2013</div>
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                    <td><strong> Name:</strong></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>16
<FILENAME>R4.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EPLAG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>STATEMENTS OF OPERATIONS (USD $)<br>In Thousands, except Share data, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
        <th class="th" colspan="2">6 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Jun. 30, 2013</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2012</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2013</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeStatementAbstract', window );"><strong>STATEMENTS OF OPERATIONS [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractsRevenue', window );">Government contracts</a></td>
        <td class="nump">$ 3,276<span></span></td>
        <td class="nump">$ 7,103<span></span></td>
        <td class="nump">$ 6,717<span></span></td>
        <td class="nump">$ 11,745<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_ResearchAndDevelopmentCollaboration', window );">Research and development collaborations</a></td>
        <td class="nump">255<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">648<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Total revenue</a></td>
        <td class="nump">3,531<span></span></td>
        <td class="nump">7,103<span></span></td>
        <td class="nump">7,365<span></span></td>
        <td class="nump">11,745<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostsAndExpensesAbstract', window );"><strong>Costs and expenses:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractRevenueCost', window );">Cost of government contracts revenue</a></td>
        <td class="nump">1,632<span></span></td>
        <td class="nump">5,118<span></span></td>
        <td class="nump">3,344<span></span></td>
        <td class="nump">8,903<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ResearchAndDevelopmentExpense', window );">Research and development</a></td>
        <td class="nump">10,785<span></span></td>
        <td class="nump">5,371<span></span></td>
        <td class="nump">20,041<span></span></td>
        <td class="nump">10,627<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GeneralAndAdministrativeExpense', window );">General and administrative</a></td>
        <td class="nump">4,012<span></span></td>
        <td class="nump">2,469<span></span></td>
        <td class="nump">6,882<span></span></td>
        <td class="nump">5,537<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostsAndExpenses', window );">Total costs and expenses</a></td>
        <td class="nump">16,429<span></span></td>
        <td class="nump">12,958<span></span></td>
        <td class="nump">30,267<span></span></td>
        <td class="nump">25,067<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Loss from operations</a></td>
        <td class="num">(12,898)<span></span></td>
        <td class="num">(5,855)<span></span></td>
        <td class="num">(22,902)<span></span></td>
        <td class="num">(13,322)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpenseAbstract', window );"><strong>Other income (expense):</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeNet', window );">Interest income</a></td>
        <td class="nump">48<span></span></td>
        <td class="nump">39<span></span></td>
        <td class="nump">95<span></span></td>
        <td class="nump">72<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
        <td class="num">(45)<span></span></td>
        <td class="num">(3)<span></span></td>
        <td class="num">(68)<span></span></td>
        <td class="num">(6)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnDerivativeInstrumentsNetPretax', window );">Change in fair value of warrant liability</a></td>
        <td class="nump">267<span></span></td>
        <td class="num">(101)<span></span></td>
        <td class="nump">267<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">Loss from operations before income tax</a></td>
        <td class="num">(12,628)<span></span></td>
        <td class="num">(5,920)<span></span></td>
        <td class="num">(22,608)<span></span></td>
        <td class="num">(13,256)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxExpenseBenefit', window );">Income tax expense</a></td>
        <td class="nump">5<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">22<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
        <td class="num">$ (12,633)<span></span></td>
        <td class="num">$ (5,920)<span></span></td>
        <td class="num">$ (22,630)<span></span></td>
        <td class="num">$ (13,256)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDiluted', window );">Basic and diluted net loss per share</a></td>
        <td class="num">$ (0.08)<span></span></td>
        <td class="num">$ (0.05)<span></span></td>
        <td class="num">$ (0.15)<span></span></td>
        <td class="num">$ (0.11)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted', window );">Basic and diluted weighted average number of common shares outstanding</a></td>
        <td class="nump">152,312<span></span></td>
        <td class="nump">126,925<span></span></td>
        <td class="nump">150,391<span></span></td>
        <td class="nump">123,741<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nvax_ResearchAndDevelopmentCollaboration">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Research And Development Collaboration</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>nvax_ResearchAndDevelopmentCollaboration</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nvax_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractRevenueCost">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Costs incurred and are directly related to generating contract revenues.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.2(e))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ContractRevenueCost</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractsRevenue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Revenue earned during the period arising from products sold or services provided under the terms of a contract, not elsewhere specified in the taxonomy. May include government contracts, construction contracts, and any other contract related to a particular project or product.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ContractsRevenue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostsAndExpenses">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total costs of sales and operating expenses for the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CostsAndExpenses</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostsAndExpensesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CostsAndExpensesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAndDiluted">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements.  Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period.  Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EarningsPerShareBasicAndDiluted</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnDerivativeInstrumentsNetPretax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4A<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=SL5618551-113959<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GainLossOnDerivativeInstrumentsNetPretax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
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              </div>
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          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GeneralAndAdministrativeExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.4)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GeneralAndAdministrativeExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeStatementAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeStatementAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(h))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph h<br><br> -Article 4<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Income Tax Expense (or Benefit)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 740<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -Subparagraph (a),(b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncomeTaxExpenseBenefit</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of the cost of borrowed funds accounted for as interest expense.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 835<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-04.9)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 9<br><br> -Article 9<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after accretion (amortization) of discount (premium), and investment expense, of interest income and dividend income on nonoperating securities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.8)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.7(a),(b))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.9)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InvestmentIncomeNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=d3e565-108580<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NonoperatingIncomeExpenseAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NonoperatingIncomeExpenseAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net result for the period of deducting operating expenses from operating revenues.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OperatingIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ResearchAndDevelopmentExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use.</p>
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                <p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p>
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                <p>Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).</p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Summary of Significant Accounting Policies<br></strong></div>
        </th>
        <th class="th" colspan="1">6 Months Ended</th>
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          <div>Jun. 30, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Summary of Significant Accounting Policies [Abstract]</strong></a></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock', window );">Summary of Significant Accounting Policies</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in"> Note 3 - Summary of Significant Accounting Policies</p> <p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> <strong><em>Basis of Presentation</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. The balance sheet as of June 30, 2013, statements of operations and statements of comprehensive loss for the three and six months ended June 30, 2013 and 2012 and the statements of cash flows for the six months ended June 30, 2013 and 2012 are unaudited, but include all adjustments (consisting of normal recurring adjustments) that the Company considers necessary for a fair presentation of the financial position, operating results, comprehensive loss and cash flows, respectively, for the periods presented. Although the Company believes that the disclosures in these financial statements are adequate to make the information presented not misleading, certain information and footnote information normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the United States Securities and Exchange Commission ("SEC").</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> Results for any interim period are not necessarily indicative of results for any future interim period or for the entire year. The accompanying unaudited financial statements should be read in conjunction with the financial statements and notes thereto included in the Company&#39;s Annual Report on Form 10-K for the year ended December 31, 2012.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> <strong><em>Use of Estimates</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The preparation of the financial statements in conformity with U.S. GAAP 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 financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from these estimates.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> <strong><em>Fair Value Measurements</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The Company applies Accounting Standards Codification ("ASC") Topic 820, <em>Fair Value Measurements and Disclosures</em>, for financial and non-financial assets and liabilities.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> ASC 820 discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow) and the cost approach (cost to replace the service capacity of an asset or replacement cost). The statement utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 0.25in">&middot;</td> <td style="TEXT-ALIGN: justify">Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.</td> </tr> </table> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 0.25in">&middot;</td> <td style="TEXT-ALIGN: justify">Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.</td> </tr> </table> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 0.25in">&middot;</td> <td style="TEXT-ALIGN: justify">Level 3: Unobservable inputs that reflect the reporting entity&#39;s own assumptions.</td> </tr> </table> <p style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> Investments</p> <p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> Investments consist of commercial paper, corporate notes and an investment in one auction rate security. Classification of marketable securities between current and non-current is dependent upon the original maturity date at purchase. Those securities purchased with original maturities greater than 90 days, but less than one year are classified as current and those with greater than one year are classified as non-current.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> Interest and dividend income is recorded when earned and included in interest income. Premiums and discounts, if any, on investments are amortized or accreted to maturity and included in interest income. The specific identification method is used in computing realized gains and losses on the sale of the Company&#39;s securities.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The Company has classified its investments as available-for-sale since the Company may need to liquidate these securities within the next year. The available-for-sale securities are carried at fair value and unrealized gains and losses on these securities, if determined to be temporary, are included in accumulated other comprehensive income (loss) in stockholders&#39; equity. Investments are evaluated periodically to determine whether a decline in value is "other-than-temporary." The term "other-than-temporary" is not intended to indicate a permanent decline in value. Rather, it means that the prospects for a near term recovery of value are not necessarily favorable, or that there is a lack of evidence to support fair values equal to, or greater than, the carrying value of the security. Management reviews criteria, such as the magnitude and duration of the decline, as well as the Company&#39;s ability to hold the securities until market recovery, to predict whether the loss in value is other-than-temporary. If a decline in value is determined to be other-than-temporary, the value of the security is reduced and the impairment is recorded in the statement of operations.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;&nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> Restricted Cash</p> <p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The Company&#39;s restricted cash includes payments received under the PATH agreement (See Note 8) until such time as the Company has paid for the work performed for the related Phase 2 RSV clinical trial. In addition, the Company&#39;s non-current restricted cash with respect to its new manufacturing, laboratory and office space in Gaithersburg, Maryland functions as collateral for letters of credit, which serve as security deposits for the duration of the leases.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> <strong><em>Net Loss per Share</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> Net loss per share is computed using the weighted average number of shares of common stock outstanding. All outstanding warrants, stock options and unvested restricted stock awards totaling 15,832,208 shares and 13,110,708 shares at June 30, 2013 and 2012, respectively, are excluded from the computation, as their effect is antidilutive.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.25in"> <strong><em>Reclassifications</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> Within the June 30, 2012 statement of operations, certain overhead expenses relating to supply chain management of $0.4 million have been reclassified from general and administrative expenses to research and development expenses. Also, within the June 30, 2012 statement of cash flows, additional lease incentives received of $1.1 million recorded in the change in accounts payable and accrued expenses have been reclassified and are included in the change in lease incentives received. All of these reclassifications have been made to conform to current year presentation. In its Quarterly Report on Form 10-Q for the period ended March 31, 2013, the Company had recorded $0.2 million and reclassified $0.1 million of patent costs from general and administrative expenses to research and development expenses for the three months ended March 31, 2013 and 2012, respectively. The Company subsequently determined that patent costs should remain as a general and administrative expense and these costs have been shown as a general and administrative expense for all periods presented herein.</p> <!--EndFragment--></div> </div><span></span></td>
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                <p>The entire disclosure for the basis of presentation and significant accounting policies concepts. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).  Accounting policies describe all significant accounting policies of the reporting entity.</p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0E1AAC">
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          <div style="width: 200px;"><strong>Stock-Based Compensation (Tables)<br></strong></div>
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        <th class="th" colspan="1">6 Months Ended</th>
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          <div>Jun. 30, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>Stock-Based Compensation [Abstract]</strong></a></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock', window );">Summary of Option Activity</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The following is a summary of option activity under the 2005 Plan and the 1995 Plan for the six months ended June 30, 2013:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> <strong>&nbsp;</strong></p> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 90%" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap">2005 Stock Incentive Plan</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap">1995 Stock Option Plan</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"><font style="FONT-SIZE: 10pt"><strong>Stock</strong></font> <br /> <font style="FONT-SIZE: 10pt"><strong>Options</strong></font></td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"><font style="FONT-SIZE: 10pt"><strong>Weighted-</strong></font><br /> <font style="FONT-SIZE: 10pt"><strong>Average</strong></font> <br /> <font style="FONT-SIZE: 10pt"><strong>Exercise</strong></font> <br /> <font style="FONT-SIZE: 10pt"><strong>Price</strong></font></td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"><font style="FONT-SIZE: 10pt"><strong>Stock</strong></font> <br /> <font style="FONT-SIZE: 10pt"><strong>Options</strong></font></td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"><font style="FONT-SIZE: 10pt"><strong>Weighted-</strong></font><br /> <font style="FONT-SIZE: 10pt"><strong>Average</strong></font> <br /> <font style="FONT-SIZE: 10pt"><strong>Exercise</strong></font> <br /> <font style="FONT-SIZE: 10pt"><strong>Price</strong></font></td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 56%">Outstanding at January 1, 2013</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: right; WIDTH: 8%">9,143,825</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="TEXT-ALIGN: right; WIDTH: 8%">1.87</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: right; WIDTH: 8%">211,900</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="TEXT-ALIGN: right; WIDTH: 8%">4.94</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td>Granted</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">4,007,500</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">1.89</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td>Exercised</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(133,917</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">2.02</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt">Canceled</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (750,008</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1.72</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (23,750</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 4.05</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt">Outstanding at June 30, 2013</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 12,267,400</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 1.88</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 188,150</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 5.04</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt; TEXT-INDENT: -9pt"> Shares exercisable at June 30, 2013</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 4,662,956</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 2.17</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 188,150</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 5.04</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td>&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt; TEXT-INDENT: -9pt"> Shares available for grant at June 30, 2013</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 2,518,619</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: right">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: right">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: right">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock', window );">Assumptions used to Estimate Grant Date Fair Value of Stock Options granted using Black-Scholes Option-Pricing Model</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The fair value of stock options granted was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions:</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> <strong>&nbsp;</strong></p> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 95%" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="3">Three Months Ended<br /> June 30,</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="3">Six Months Ended<br /> June 30,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"> 2013</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"> 2012</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"> 2013</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"> 2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 36%"> Weighted-average fair value of stock options granted</td> <td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"> &nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"> $1.01</td> <td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"> &nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"> $0.71</td> <td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"> &nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"> $1.00</td> <td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"> &nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"> $0.71</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> Risk-free interest rate</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0.54%-0.96%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0.59%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0.54%-1.34%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0.59%-1.54%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> Dividend yield</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT: 10pt Times New Roman, Times, Serif"> Volatility</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 55.81%-66.02%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 75.47%-75.52%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 55.81%-73.72%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 75.47%-80.48%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> Expected term (in years)</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 3.98-4.25</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 4.24</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 3.98-7.05</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 3.34-7.09</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> Expected forfeiture rate</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0%-23.15%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0%-23.15%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0%-23.15%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0%-23.15%</td> </tr> </table> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock', window );">Summary of Restricted Stock Awards Activity</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The following is a summary of restricted stock awards activity for the six months ended June 30, 2013:</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> <strong>&nbsp;</strong></p> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 85%" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 3.8pt"> <strong>Number of</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 3.8pt"> <strong>Shares</strong></p> </td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 5.25pt"> <strong>Per Share</strong><br /> <strong>Weighted-</strong><br /> <strong>Average</strong><br /> <strong>Grant-Date</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 5.25pt"> <strong>Fair Value</strong></p> </td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; WIDTH: 68%">Outstanding at January 1, 2013</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: right; WIDTH: 13%">33,334</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="TEXT-ALIGN: right; WIDTH: 13%">1.39</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left">Restricted stock granted</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Restricted stock vested</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Restricted stock forfeited</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">Outstanding at June 30, 2013</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 33,334</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 1.39</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <!--EndFragment--></div> </div><span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock', window );">Stock-Based Compensation Expense</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The Company recorded stock-based compensation expense in the statements of operations as follows (in thousands):</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.5in; WIDTH: 93%" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Three Months Ended</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>June 30,</strong></p> </td> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Six Months Ended</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>June 30,</strong></p> </td> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; WIDTH: 56%">Research and development</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="TEXT-ALIGN: right; WIDTH: 8%">296</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="TEXT-ALIGN: right; WIDTH: 8%">236</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="TEXT-ALIGN: right; WIDTH: 8%">513</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="TEXT-ALIGN: right; WIDTH: 8%">419</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">General and administrative</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 342</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 353</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 608</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 757</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 8.1pt; TEXT-INDENT: -8.1pt"> Total stock-based compensation expense</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 638</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 589</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 1,121</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 1,176</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <!--EndFragment--></div> </div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Schedule Of Share Based Compensation, Restricted Stock Awards, Activity</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the allocation of equity-based compensation costs to a given line item on the balance sheet and income statement for the period. This may include the reporting line for the costs and the amount capitalized and expensed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 14.F)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 14<br><br> -Section F<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (h)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (f)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>Sales of Common Stock<br></strong></div>
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        <th class="th" colspan="1">6 Months Ended</th>
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          <div>Jun. 30, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_SalesOfCommonStockAbstract', window );"><strong>Sales of Common Stock [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_SaleOfCommonStockDisclosureTextBlock', window );">Sales of Common Stock</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in"> Note 11 - Sales of Common Stock</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> In October 2012, the Company entered into an At Market Issuance Sales Agreement ("2012 Sales Agreement"), under which the Board of Directors of the Company (the "Board") approved the Company&#39;s sale of up to an aggregate of $50 million in gross proceeds of its common stock. The shares of common stock are being offered pursuant to a shelf registration statement filed with the SEC in March 2013, which replaced the previous shelf registration statement filed in 2010. The Board has appointed a standing Finance Committee (the "Committee") to assist with its responsibilities to monitor, provide advice to senior management of the Company and approve all capital raising activities. The Committee has been authorized by the Board, absent any action by the Board to the contrary, to take any additional actions necessary to carry out the Board&#39;s authorization of the issuance and sale of the common stock sold pursuant to the 2012 Sales Agreement. In doing so, the Committee is authorized to set the amount of shares to be sold, the period of time during which such sales may occur and the minimum sales price per share. During the six months ended June 30, 2013, the Company sold 4.6 million shares at sales prices ranging from of $2.06 &#9472; $2.63 per share, resulting in $10.0 million in net proceeds. The most recent sales to occur under the 2012 Sales Agreement were on May 6, 2013.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <!--EndFragment--></div> </div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sale Of Common Stock Disclosure</p>
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WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; 2014&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: right; PADDING-LEFT: 0px"&gt; 571&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; 2015&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: right; PADDING-LEFT: 0px"&gt; 571&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; 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 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 470

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 -Section 50

 -Paragraph 1

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<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EPCAC">
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        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>Notes Payable (Aggregate Future Minimum Principal Payments on Equipment Loan) (Details) (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th">
          <div>Jun. 30, 2013</div>
        </th>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Notes Payable [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_LoanAgreementFutureMinimumPaymentsRemainderOfFiscalYear', window );">2013 (remainder)</a></td>
        <td class="nump">$ 286<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_LoanAgreementFutureMinimumPaymentsDueInRollingYearTwo', window );">2014</a></td>
        <td class="nump">571<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_LoanAgreementFutureMinimumPaymentsDueInRollingYearThree', window );">2015</a></td>
        <td class="nump">571<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_LoanAgreementFutureMinimumPaymentsDueInRollingYearFour', window );">2016</a></td>
        <td class="nump">396<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_LoanAgreementFutureMinimumPaymentsDue', window );">Total</a></td>
        <td class="nump">$ 1,824<span></span></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of minimum loan payments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td><strong> Name:</strong></td>
                    <td><nobr>nvax_LoanAgreementFutureMinimumPaymentsDue</nobr></td>
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                <p>Amount of minimum loan payments maturing in the fourth rolling twelve months following the latest balance sheet presented.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                <p>Amount of minimum loan payments maturing in the third rolling twelve months following the latest balance sheet presented.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                <p>Amount of minimum loan payments maturing in the second rolling twelve months following the latest balance sheet presented.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                <p>Amount of minimum loan payments maturing in the remainder of the fiscal year following the latest fiscal year ended.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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  <head>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0E42AE">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>Fair Value Measurements (Fair Value Hierarchy) (Details) (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th">
          <div>Jun. 30, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecurities', window );">Corporate debt and auction rate securities</a></td>
        <td class="nump">$ 38,025<span></span></td>
        <td class="nump">$ 32,945<span></span></td>
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      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Level 1 [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecurities', window );">Corporate debt and auction rate securities</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Total investments</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesFairValueDisclosure', window );">Warrant liabilities</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Level 2 [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecurities', window );">Corporate debt and auction rate securities</a></td>
        <td class="nump">38,025<span></span></td>
        <td class="nump">32,945<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Total investments</a></td>
        <td class="nump">38,025<span></span></td>
        <td class="nump">32,945<span></span></td>
      </tr>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesFairValueDisclosure', window );">Warrant liabilities</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Level 3 [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureAbstract', window );"><strong>Assets</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecurities', window );">Corporate debt and auction rate securities</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsFairValueDisclosure', window );">Total investments</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureAbstract', window );"><strong>Liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesFairValueDisclosure', window );">Warrant liabilities</a></td>
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        <td class="nump">$ 267<span></span></td>
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                  <tr>
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                    <td><nobr>us-gaap_AssetsFairValueDisclosureAbstract</nobr></td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                    <td><strong> Balance Type:</strong></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of investment in debt and equity securities categorized neither as held-to-maturity nor trading.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 25<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28360136&amp;loc=d3e22054-111558<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -Subparagraph (aa)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27232-111563<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6871852&amp;loc=d3e26610-111562<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AvailableForSaleSecurities</nobr></td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentsFairValueDisclosure">
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Fair value portion of investment securities, including, but not limited to, marketable securities, derivative financial instruments, and investments accounted for under the equity method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Available-for-Sale Securities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6505594<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Trading Securities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6526789<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 25<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28360136&amp;loc=d3e22054-111558<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 1<br><br> -Subparagraph a, f, g<br><br> -Article 7<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 35<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27723805&amp;loc=d3e24584-111560<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InvestmentsFairValueDisclosure</nobr></td>
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                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesFairValueDisclosureAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesFairValueDisclosureAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLiabilitiesFairValueDisclosure">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Fair value portion of other liabilities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherLiabilitiesFairValueDisclosure</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>27
<FILENAME>R26.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EVKAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Summary of Significant Accounting Policies (Narrative) (Details) (USD $)<br>In Thousands, except Share data, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
        <th class="th" colspan="2">6 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Mar. 31, 2013</div>
        </th>
        <th class="th">
          <div>Mar. 31, 2012</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2013</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Summary of Significant Accounting Policies [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Number of shares excluded from the computation of net loss per share</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">15,832,208<span></span></td>
        <td class="nump">13,110,708<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses', window );">Reclassification of general and administrative expenses</a></td>
        <td class="nump">$ 200<span></span></td>
        <td class="nump">$ 100<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 400<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_ReclassificationFromAccountsPayableToLeaseIncentivesReceived', window );">Reclassification of additional lease incentives</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 1,100<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nvax_ReclassificationFromAccountsPayableToLeaseIncentivesReceived">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Reclassification of additional lease incentives recorded in accounts payable and accrued expenses to lease incentives received.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>nvax_ReclassificationFromAccountsPayableToLeaseIncentivesReceived</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nvax_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nvax_ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Reclassification of general and administrative expenses relating to patent and other costs to research and development expenses.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>nvax_ReclassificationFromGeneralAdministrativeExpensesToResearchDevelopmentExpenses</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nvax_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountingPoliciesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccountingPoliciesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Antidilution<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6505113<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Diluted Earnings Per Share<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6510752<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Contingent Stock Agreement<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6508534<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>28
<FILENAME>R34.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0E3LAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Stock-Based Compensation (Summary of Restricted Stock Awards Activity) (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="1">6 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Jun. 30, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward', window );"><strong>Number of Shares</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Outstanding at January 1, 2013</a></td>
        <td class="nump">33,334<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod', window );">Restricted stock granted</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod', window );">Restricted stock vested</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod', window );">Restricted stock forfeited</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber', window );">Outstanding at June 30, 2013</a></td>
        <td class="nump">33,334<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward', window );"><strong>Per Share Weighted-Average Grant-Date Fair Value</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Outstanding at January 1, 2013</a></td>
        <td class="nump">$ 1.39<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Restricted stock granted</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue', window );">Restricted stock vested</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue', window );">Restricted stock forfeited</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue', window );">Outstanding at June 30, 2013</a></td>
        <td class="nump">$ 1.39<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iv)(3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(2)(iii)(3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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                    <td>us-gaap_</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(2)(iii)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td>xbrli:sharesItemType</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(2)(iii)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</nobr></td>
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                    <td>us-gaap_</td>
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                    <td>num:perShareItemType</td>
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                    <td>na</td>
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                    <td>duration</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(2)(i)-(ii)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td>xbrli:sharesItemType</td>
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                    <td>na</td>
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                    <td>instant</td>
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                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedRollForward</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td>na</td>
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                    <td>duration</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(2)(i)-(ii)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue</nobr></td>
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                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValueRollForward</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(2)(iii)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(2)(iii)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
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          <div style="width: 200px;"><strong>Sales of Common Stock (Details) (USD $)<br>In Thousands, except Share data, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">1 Months Ended</th>
        <th class="th" colspan="1">6 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Oct. 31, 2012</div>
        </th>
        <th class="th">
          <div>Jul. 31, 2008</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2013</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Units issued in direct offering</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">6,686,650<span></span></td>
        <td class="nump">4,600,000<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityIssuancePerShareAmount', window );">Equity issuance, price per share</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 2.68<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOrSaleOfEquity', window );">Proceeds from direct offering</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 17,500<span></span></td>
        <td class="nump">$ 10,000<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_CommonStockValueAuthorizedUnderPriorShelfRegistrationStatement', window );">Common stock authorized for issuance under prior shelf registration statement with SEC, dollar amount</a></td>
        <td class="nump">$ 50,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Minimum [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityIssuancePerShareAmount', window );">Equity issuance, price per share</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 2.06<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Maximum [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityIssuancePerShareAmount', window );">Equity issuance, price per share</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 2.63<span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Common stock authorized for issuance under prior shelf registration statement with SEC, dollar amount.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>nvax_CommonStockValueAuthorizedUnderPriorShelfRegistrationStatement</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nvax_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td>duration</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount per share or per unit assigned to the consideration received of equity securities issued for development stage entities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 915<br><br> -SubTopic 215<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6472370&amp;loc=d3e38297-110927<br><br><br><br></p>
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                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EquityIssuancePerShareAmount</nobr></td>
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                    <td>num:perShareItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td>duration</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from the issuance of common stock, preferred stock, treasury stock, stock options, and other types of equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3255-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromIssuanceOrSaleOfEquity</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td>duration</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of new stock issued during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br></p>
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                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodSharesNewIssues</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0ECJBG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Stock-Based Compensation (Narrative) (Details) (USD $)<br>In Thousands, except Share data, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">6 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Jun. 30, 2013</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue', window );">Aggregate intrinsic value of stock options outstanding</a></td>
        <td class="nump">$ 4,300<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2', window );">Weighted-average remaining contractual term of stock options outstanding</a></td>
        <td class="text">7 years 7 months 6 days<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1', window );">Aggregate intrinsic value of stock options exercisable</a></td>
        <td class="nump">1,500<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1', window );">Weighted-average remaining contractual term of stock options exercisable</a></td>
        <td class="text">5 years 7 months 6 days<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue', window );">Aggregate intrinsic value of stock options exercised</a></td>
        <td class="nump">100<span></span></td>
        <td class="nump">100<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized', window );">Unrecognized compensation expense</a></td>
        <td class="nump">$ 4,900<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1', window );">Unrecognized compensation expense, recognition period</a></td>
        <td class="text">1 year 7 months 6 days<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">2005 Stock Incentive Plan [Member]</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized', window );">Common stock reserved for issuance</a></td>
        <td class="nump">22,312,192<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsMaximumTerm', window );">Maximum term of options</a></td>
        <td class="text">10 years<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantDateExercisePriceMinimumPercent', window );">Minimum grant price, percent of common stock fair value</a></td>
        <td class="nump">100.00%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">2005 Stock Incentive Plan [Member] | Scenario, Forecast [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized', window );">Increase in shares available for issuance approved at the 2013 annual stockholders' meeting</a></td>
        <td class="nump">4,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">2005 Stock Incentive Plan [Member] | Minimum [Member]</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisePeriodFromDateOfGrant', window );">Exercise period</a></td>
        <td class="text">6 months<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">2005 Stock Incentive Plan [Member] | Maximum [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisePeriodFromDateOfGrant', window );">Exercise period</a></td>
        <td class="text">4 years<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">1995 Stock Option Plan [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized', window );">Common stock reserved for issuance</a></td>
        <td class="nump">5,746,468<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsMaximumTerm', window );">Maximum term of options</a></td>
        <td class="text">10 years<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantDateExercisePriceMinimumPercent', window );">Minimum grant price, percent of common stock fair value</a></td>
        <td class="nump">100.00%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">1995 Stock Option Plan [Member] | Minimum [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisePeriodFromDateOfGrant', window );">Exercise period</a></td>
        <td class="text">6 months<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">1995 Stock Option Plan [Member] | Maximum [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisePeriodFromDateOfGrant', window );">Exercise period</a></td>
        <td class="text">4 years<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Employee Stock Purchase Plan [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized', window );">Common stock reserved for issuance</a></td>
        <td class="nump">2,000,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nvax_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisePeriodFromDateOfGrant">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Period of time incentive stock options are exercisable, from the date of grant.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>nvax_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisePeriodFromDateOfGrant</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nvax_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nvax_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantDateExercisePriceMinimumPercent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The minimum grant-date exercise price of incentive stock options granted as a percent of the common stock share price.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>nvax_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantDateExercisePriceMinimumPercent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nvax_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nvax_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsMaximumTerm">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Maximum term of incentive stock options.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>nvax_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsMaximumTerm</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nvax_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Unrecognized cost of unvested share-based compensation awards.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (i)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (i)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of additional shares authorized for issuance under an established share-based compensation plan.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (a)(3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
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                <p>Amount of accumulated difference between fair value of underlying shares on dates of exercise and exercise price on options exercised (or share units converted) into shares.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (d)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (e)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
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&lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;Note 5 - Investments&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; Investments classified as available-for-sale as of June 30, 2013 and December 31, 2012 were comprised of (in thousands):&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="6"&gt;&lt;strong&gt;June 30, 2013&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="6"&gt;December 31, 2012&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;Amortized&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;Cost&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"&gt;&lt;strong&gt;Gross Unrealized Gains&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"&gt;&lt;strong&gt;Gross Unrealized Losses&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2"&gt;Fair Value&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;Amortized&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;Cost&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"&gt;&lt;strong&gt;Gross Unrealized Gains&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"&gt;&lt;strong&gt;Gross Unrealized Losses&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2"&gt;Fair Value&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 10%; TEXT-INDENT: 0px"&gt; Auction rate securities&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 1,175&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 635&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 1,810&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 1,175&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 409&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 1,584&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; Corporate debt securities&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; 36,213&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 2&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 36,215&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; 31,340&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 21&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 31,361&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; Total&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 37,388&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 637&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 38,025&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 32,515&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 430&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; 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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>Notes Payable (Tables)<br></strong></div>
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        <th class="th" colspan="1">6 Months Ended</th>
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          <div>Jun. 30, 2013</div>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock', window );">Schedule of Future Minimum Principal Payments</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> Aggregate future minimum principal payments on the Equipment Loan, including the 2013 Funding, at June 30, 2013 are as follows (in thousands):</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 90%; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0px"> <strong><u>Year</u></strong></td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; PADDING-LEFT: 0px" colspan="2">Amount</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0px"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px; WIDTH: 87%">2013 (remainder)</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px; WIDTH: 1%"> &nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px; WIDTH: 1%"> $</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right; PADDING-LEFT: 0px; WIDTH: 10%"> 286</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px; WIDTH: 1%"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"> 2014</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right; PADDING-LEFT: 0px"> 571</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"> 2015</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right; PADDING-LEFT: 0px"> 571</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"> 2016</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px"> 396</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; PADDING-LEFT: 0px"> $</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px"> 1,824</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"> &nbsp;</td> </tr> </table> <p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <!--EndFragment--></div> </div><span></span></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtDisclosureAbstract</nobr></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 470<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6802200&amp;loc=d3e1835-112601<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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<DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
  <head>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0E51AG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>STATEMENTS OF CASH FLOWS (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">6 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Jun. 30, 2013</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2012</div>
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      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Operating Activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
        <td class="num">$ (22,630)<span></span></td>
        <td class="num">$ (13,256)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Reconciliation of net loss to net cash used in operating activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnDerivativeInstrumentsNetPretax', window );">Change in fair value of warrant liability</a></td>
        <td class="num">(267)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation and amortization</a></td>
        <td class="nump">961<span></span></td>
        <td class="nump">810<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments', window );">Amortization of net premiums on investments</a></td>
        <td class="nump">232<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment', window );">Gain on disposal of property and equipment</a></td>
        <td class="num">(43)<span></span></td>
        <td class="num">(19)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNoncashIncomeExpense', window );">Deferred rent</a></td>
        <td class="nump">458<span></span></td>
        <td class="nump">251<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Non-cash stock-based compensation</a></td>
        <td class="nump">1,121<span></span></td>
        <td class="nump">1,176<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Changes in operating assets and liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInRestrictedCash', window );">Restricted cash</a></td>
        <td class="nump">986<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivable', window );">Accounts receivables</a></td>
        <td class="nump">104<span></span></td>
        <td class="nump">467<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInUnbilledReceivables', window );">Unbilled receivables</a></td>
        <td class="num">(245)<span></span></td>
        <td class="num">(2,395)<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Prepaid expenses and other assets</a></td>
        <td class="nump">702<span></span></td>
        <td class="nump">58<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities', window );">Accounts payable and accrued expenses</a></td>
        <td class="num">(40)<span></span></td>
        <td class="nump">461<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDeferredRevenue', window );">Deferred revenue</a></td>
        <td class="num">(258)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities', window );">Lease incentives received</a></td>
        <td class="nump">703<span></span></td>
        <td class="nump">2,101<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash used in operating activities</a></td>
        <td class="num">(18,216)<span></span></td>
        <td class="num">(10,346)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Investing Activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireProductiveAssets', window );">Capital expenditures</a></td>
        <td class="num">(3,157)<span></span></td>
        <td class="num">(1,076)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment', window );">Proceeds from disposal of property and equipment</a></td>
        <td class="nump">81<span></span></td>
        <td class="nump">167<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities', window );">Proceeds from maturities of investments</a></td>
        <td class="nump">9,649<span></span></td>
        <td class="nump">2,500<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireAvailableForSaleSecurities', window );">Purchases of investments</a></td>
        <td class="num">(14,754)<span></span></td>
        <td class="num">(9,389)<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash used in investing activities</a></td>
        <td class="num">(8,181)<span></span></td>
        <td class="num">(7,798)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Financing Activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RepaymentsOfLongTermCapitalLeaseObligations', window );">Principal payments of capital lease</a></td>
        <td class="num">(29)<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromRepaymentsOfNotesPayable', window );">Principal payments of notes payable</a></td>
        <td class="num">(136)<span></span></td>
        <td class="num">(20)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromNotesPayable', window );">Proceeds from notes payable</a></td>
        <td class="nump">1,450<span></span></td>
        <td class="nump">100<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromRepaymentsOfRestrictedCashFinancingActivities', window );">Restricted cash</a></td>
        <td class="num">(1)<span></span></td>
        <td class="num">(755)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfCommonStock', window );">Net proceeds from sales of common stock, net of offering costs of $0.3 million and $0.3 million, respectively</a></td>
        <td class="nump">10,018<span></span></td>
        <td class="nump">20,023<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromStockOptionsExercised', window );">Proceeds from the exercise of stock options</a></td>
        <td class="nump">270<span></span></td>
        <td class="nump">26<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash provided by financing activities</a></td>
        <td class="nump">11,572<span></span></td>
        <td class="nump">19,374<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net (decrease) increase in cash and cash equivalents</a></td>
        <td class="num">(14,825)<span></span></td>
        <td class="nump">1,230<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at beginning of period</a></td>
        <td class="nump">17,399<span></span></td>
        <td class="nump">14,104<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at end of period</a></td>
        <td class="nump">2,574<span></span></td>
        <td class="nump">15,334<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract', window );"><strong>Supplemental disclosure of non-cash activities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalExpendituresIncurredButNotYetPaid', window );">Property and equipment purchases included in accounts payable and accrued expenses</a></td>
        <td class="nump">1,026<span></span></td>
        <td class="nump">278<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_DepositsForAcquisitionOfPropertyAndEquipment', window );">Deposit applied towards the purchase of laboratory equipment</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">500<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationAbstract', window );"><strong>Supplemental disclosure of cash flow information:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaid', window );">Cash payments of interest</a></td>
        <td class="nump">$ 61<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nvax_DepositsForAcquisitionOfPropertyAndEquipment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Deposits For Acquisition Of Property And Equipment</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>nvax_DepositsForAcquisitionOfPropertyAndEquipment</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nvax_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The sum of the periodic adjustments of the differences between securities' face values and purchase prices that are charged against earnings. This is called accretion if the security was purchased at a discount and amortization if it was purchased at premium. As a noncash item, this element is an adjustment to net income when calculating cash provided by or used in operations using the indirect method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalExpendituresIncurredButNotYetPaid">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Future cash outflow to pay for purchases of fixed assets that have occurred.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CapitalExpendituresIncurredButNotYetPaid</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Cash Equivalents<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3044-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 830<br><br> -SubTopic 230<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450594&amp;loc=d3e33268-110906<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashFlowNoncashInvestingAndFinancingActivitiesDisclosureAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 360<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DepreciationAndAmortization</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnDerivativeInstrumentsNetPretax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4A<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=SL5618551-113959<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GainLossOnDerivativeInstrumentsNetPretax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnSaleOfPropertyPlantEquipment">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GainLossOnSaleOfPropertyPlantEquipment</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInAccountsReceivable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDeferredRevenue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInDeferredRevenue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in other noncurrent operating liabilities not separately disclosed in the statement of cash flows.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInOtherNoncurrentLiabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInRestrictedCash">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3179-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3213-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInRestrictedCash</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInUnbilledReceivables">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The increase (decrease) during the reporting period of the amount of revenue for work performed for which billing has not occurred, net of uncollectible accounts.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_IncreaseDecreaseInUnbilledReceivables</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaid">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount of cash paid for interest during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4297-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -Subparagraph (e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3536-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InterestPaid</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3574-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInFinancingActivities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 26<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3574-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInInvestingActivities</nobr></td>
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                  <tr>
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                    <td><strong> Period Type:</strong></td>
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          </td>
        </tr>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 24<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3521-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 25<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3536-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInOperatingActivities</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
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          </td>
        </tr>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=d3e565-108580<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NetIncomeLoss</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherNoncashIncomeExpense">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Other income (expense) included in net income that results in no cash inflows or outflows in the period. Includes noncash adjustments to reconcile net income (loss) to cash provided by (used in) operating activities that are not separately disclosed.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherNoncashIncomeExpense</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireAvailableForSaleSecurities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow to acquire debt and equity securities not classified as either held-to-maturity securities or trading securities which would be classified as available-for-sale securities and reported at fair value, with unrealized gains and losses excluded from earnings and reported in a separate component of shareholders' equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6871852&amp;loc=d3e26853-111562<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -Subparagraph (a),(b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3213-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsToAcquireAvailableForSaleSecurities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireProductiveAssets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 13<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3213-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsToAcquireProductiveAssets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOfCommonStock">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from the additional capital contribution to the entity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3255-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromIssuanceOfCommonStock</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromNotesPayable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from a borrowing supported by a written promise to pay an obligation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3255-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromNotesPayable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
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        <tr>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of cash inflow (outflow) from long-term debt supported by a written promise to pay an obligation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromRepaymentsOfNotesPayable</nobr></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The net cash inflow or outflow from cash and cash items that are not available for withdrawal or usage.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3255-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3291-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromRepaymentsOfRestrictedCashFinancingActivities</nobr></td>
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                    <td>xbrli:monetaryItemType</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow associated with the sale or maturity (principal being due) of securities not classified as either held-to-maturity securities or trading securities which are classified as available-for-sale securities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6871852&amp;loc=d3e26853-111562<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -Subparagraph (a),(b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3179-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities</nobr></td>
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                    <td>xbrli:monetaryItemType</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Investing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3179-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment</nobr></td>
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        <tr>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (j)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3255-108585<br><br><br><br></p>
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                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromStockOptionsExercised</nobr></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash outflow for the obligation for a lease meeting the criteria for capitalization (with maturities exceeding one year or beyond the operating cycle of the entity, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 15<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3291-108585<br><br><br><br></p>
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                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RepaymentsOfLongTermCapitalLeaseObligations</nobr></td>
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                    <td>us-gaap_</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 915

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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>Organization<br></strong></div>
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          <div>Jun. 30, 2013</div>
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        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in; font-size-adjust: none; font-stretch: normal"> Note 1 - Organization</p> <p style="FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> Novavax, Inc. (the "Company") is a clinical-stage biopharmaceutical company focused on developing recombinant protein nanoparticle vaccines to address a broad range of infectious diseases. The Company&#39;s technology platform is based on proprietary recombinant vaccine technology that includes virus-like particles ("VLPs") and recombinant protein micelle vaccines combined with a single-use bioprocessing production system. These vaccine candidates are genetically engineered three-dimensional nanostructures that incorporate immunologically important recombinant proteins. The Company&#39;s product pipeline targets a variety of infectious diseases with vaccine candidates currently in mid-stage clinical development for seasonal influenza, pandemic influenza and respiratory syncytial virus ("RSV").</p> <!--EndFragment--></div> </div><span></span></td>
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                <p>The entire disclosure for the nature of an entity's business, the major products or services it sells or provides and its principal markets, including the locations of those markets. If the entity operates in more than one business, the disclosure also indicates the relative importance of its operations in each business and the basis for the determination (for example, assets, revenues, or earnings).</p>
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&lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Note 4 - Fair Value Measurements&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in"&gt; The following table represents the Company&amp;#39;s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis (in thousands):&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; 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TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 1&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 2&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 3&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-DECORATION: underline"&gt; Assets&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 8pt; WIDTH: 34%; TEXT-INDENT: -8pt"&gt; Corporate debt securities and auction rate securities&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; 38,025&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; 32,945&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;Total investments&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 38,025&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 32,945&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-DECORATION: underline"&gt; Liabilities&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;Warrant liabilities&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 267&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in"&gt; During the six months ended June 30, 2013, the Company did not have any transfers between levels.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The following table provides a reconciliation of the beginning and ending balance of Level 3 assets and liabilities measured on a recurring basis for the six months ended June 30, 2013 (in thousands):&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 75%" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Fair&amp;nbsp;Value&amp;nbsp;Measurements&amp;nbsp;of&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Warrants&amp;nbsp;Using Significant&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Unobservable&amp;nbsp;Inputs&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;(Level&amp;nbsp;3)&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 72%"&gt;Balance at December 31, 2012&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 25%"&gt;267&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Change in fair value of Warrant liability&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (267&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;Balance at June 30, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The amounts in the Company&amp;#39;s balance sheet for accounts receivables, unbilled receivables and accounts payable approximate fair value due to their short-term nature. 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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Fair Value Measurements<br></strong></div>
        </th>
        <th class="th" colspan="1">6 Months Ended</th>
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          <div>Jun. 30, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresAbstract', window );"><strong>Fair Value Measurements [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresTextBlock', window );">Fair Value Measurements</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Note 4 - Fair Value Measurements</strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>&nbsp;</strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in"> The following table represents the Company&#39;s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis (in thousands):</p> <p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10" nowrap="nowrap">Fair Value at June 30, 2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10" nowrap="nowrap">Fair Value at December 31, 2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Level 1</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Level 2</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Level 3</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Level 1</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Level 2</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Level 3</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; TEXT-DECORATION: underline"> Assets</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 8pt; WIDTH: 34%; TEXT-INDENT: -8pt"> Corporate debt securities and auction rate securities</td> <td style="PADDING-BOTTOM: 1pt; WIDTH: 1%">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; WIDTH: 1%">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"> 38,025</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; WIDTH: 1%">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; WIDTH: 1%">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; WIDTH: 1%">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"> 32,945</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; WIDTH: 1%">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">Total investments</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 38,025</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 32,945</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; TEXT-DECORATION: underline"> Liabilities</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">Warrant liabilities</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 267</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in"> During the six months ended June 30, 2013, the Company did not have any transfers between levels.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The following table provides a reconciliation of the beginning and ending balance of Level 3 assets and liabilities measured on a recurring basis for the six months ended June 30, 2013 (in thousands):</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 75%" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Fair&nbsp;Value&nbsp;Measurements&nbsp;of</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Warrants&nbsp;Using Significant</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Unobservable&nbsp;Inputs</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>(Level&nbsp;3)</strong></p> </td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 72%">Balance at December 31, 2012</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="TEXT-ALIGN: right; WIDTH: 25%">267</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Change in fair value of Warrant liability</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (267</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt">Balance at June 30, 2013</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The amounts in the Company&#39;s balance sheet for accounts receivables, unbilled receivables and accounts payable approximate fair value due to their short-term nature. Based on borrowing rates available to the Company, the fair value of capital lease and notes payable approximates their carrying value.</p> <!--EndFragment--></div> </div><span></span></td>
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                <p>The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.</p>
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                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 21<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28364263&amp;loc=d3e13537-108611<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 10<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28364263&amp;loc=d3e13433-108611<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14064-108612<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=25499696&amp;loc=d3e19207-110258<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 30<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14172-108612<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 16<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28364263&amp;loc=d3e13504-108611<br><br><br><br></p>
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</LabelSeparator><Level>1</Level><ElementName>us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract</ElementName><ElementPrefix>us-gaap_</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Stock-Based Compensation [Abstract]</Label></Row><Row FlagID="0"><Id>2</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelSeparator>

</LabelSeparator><Level>2</Level><ElementName>us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock</ElementName><ElementPrefix>us-gaap_</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>terseLabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Note 7 - Stock-Based Compensation&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &lt;strong&gt;&lt;em&gt;Stock Options&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &lt;strong&gt;&lt;em&gt;&amp;nbsp;&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The Company has granted equity awards under several plans. Under the 2005 Stock Incentive Plan (the "2005 Plan"), equity awards may be granted to officers, directors, employees, consultants and advisors to the Company and any present or future subsidiary. The 2005 Plan, approved in May 2005 and amended in June 2007, June 2011, June 2012 and June 2013 by the Company&amp;#39;s stockholders, currently authorizes the grant of equity awards for up to 22,312,192 shares of common stock, which included, at the time of approval of the 2005 Plan, a maximum 5,746,468 shares of common stock subject to stock options outstanding under the Company&amp;#39;s 1995 Stock Option Plan (the "1995 Plan") that may revert to and become issuable under the 2005 Plan if such options should expire or otherwise terminate unexercised. The Company received approval at its 2013 annual meeting of stockholders to increase the number of shares of common stock available for issuance under the 2005 Plan by 4,000,000 shares. The term of the Company&amp;#39;s 1995 Plan has expired. Outstanding stock options remain in existence in accordance with their terms and no new awards will be made under the 1995 Plan.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Under the 2005 Plan and the 1995 Plan, incentive stock options, having a maximum term of 10 years, can be or were granted at no less than 100% of the fair value of the Company&amp;#39;s common stock at the time of grant and are generally exercisable over periods ranging from six months to four years. There is no minimum exercise price for non-statutory stock options.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0in"&gt; &lt;strong&gt;&lt;em&gt;&amp;nbsp;&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0in"&gt; &lt;strong&gt;&lt;em&gt;Stock Options Awards&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The following is a summary of option activity under the 2005 Plan and the 1995 Plan for the six months ended June 30, 2013:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 90%" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt;2005 Stock Incentive Plan&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt;1995 Stock Option Plan&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Stock&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Options&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Weighted-&lt;/strong&gt;&lt;/font&gt;&lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Average&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Exercise&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Price&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Stock&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Options&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Weighted-&lt;/strong&gt;&lt;/font&gt;&lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Average&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Exercise&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Price&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 56%"&gt;Outstanding at January 1, 2013&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;9,143,825&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;1.87&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;211,900&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;4.94&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;Granted&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;4,007,500&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1.89&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;Exercised&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(133,917&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;2.02&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;Canceled&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (750,008&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 1.72&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (23,750&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 4.05&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;Outstanding at June 30, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 12,267,400&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 1.88&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 188,150&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 5.04&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt; TEXT-INDENT: -9pt"&gt; Shares exercisable at June 30, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 4,662,956&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 2.17&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 188,150&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 5.04&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt; TEXT-INDENT: -9pt"&gt; Shares available for grant at June 30, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 2,518,619&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The fair value of stock options granted was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions:&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 95%" cellspacing="0" cellpadding="0" align="center"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="FONT-SIZE: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="3"&gt;Three Months Ended&lt;br /&gt; June 30,&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="3"&gt;Six Months Ended&lt;br /&gt; June 30,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="FONT-SIZE: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"&gt; 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"&gt; 2012&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"&gt; 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"&gt; 2012&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 36%"&gt; Weighted-average fair value of stock options granted&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"&gt; $1.01&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"&gt; $0.71&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"&gt; $1.00&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"&gt; $0.71&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"&gt; Risk-free interest rate&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0.54%-0.96%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0.59%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0.54%-1.34%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0.59%-1.54%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"&gt; Dividend yield&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt; Volatility&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 55.81%-66.02%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 75.47%-75.52%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 55.81%-73.72%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 75.47%-80.48%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"&gt; Expected term (in years)&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 3.98-4.25&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 4.24&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 3.98-7.05&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 3.34-7.09&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"&gt; Expected forfeiture rate&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%-23.15%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%-23.15%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%-23.15%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%-23.15%&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The aggregate intrinsic value and weighted-average remaining contractual term of stock options outstanding as of June 30, 2013 was approximately $4.3 million and 7.6 years, respectively. The aggregate intrinsic value and weighted-average remaining contractual term of stock options exercisable as of June 30, 2013 was approximately $1.5 million and 5.6 years, respectively. The aggregate intrinsic value represents the total intrinsic value (the difference between the Company&amp;#39;s closing stock price on the last trading day of the period and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on June 30, 2013. This amount is subject to change based on changes to the fair value of the Company&amp;#39;s common stock. The aggregate intrinsic value of options exercised for the six months ended June 30, 2013 and 2012 was less than $0.1 million.&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &lt;strong&gt;&lt;em&gt;&amp;nbsp;&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &lt;strong&gt;&lt;em&gt;Employee Stock Purchase Plan&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The Company received approval at its 2013 annual meeting of stockholders to adopt an Employee Stock Purchase Plan (the "ESPP"), which currently authorizes an aggregate of 2,000,000 shares of Common Stock to be purchased. The ESPP allows employees to purchase shares of Common Stock of the Company at each purchase date through payroll deductions of up to a maximum of 15% of their compensation, at 85% of the lesser of the market price of the shares at the time of purchase or the market price on the beginning date of an option period (or, if later, the date during the option when the employee was first eligible to participate). The first option period under the ESPP commenced August 1, 2013.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0in"&gt; &lt;strong&gt;&lt;em&gt;Restricted Stock Awards&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Under the 2005 Plan, the Company has granted restricted stock awards subject to certain performance-based and time-based vesting conditions which, if not met, would result in forfeiture of the shares and reversal of any previously recognized related stock-based compensation expense.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The following is a summary of restricted stock awards activity for the six months ended June 30, 2013:&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 85%" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 3.8pt"&gt; &lt;strong&gt;Number of&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 3.8pt"&gt; &lt;strong&gt;Shares&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 5.25pt"&gt; &lt;strong&gt;Per Share&lt;/strong&gt;&lt;br /&gt; &lt;strong&gt;Weighted-&lt;/strong&gt;&lt;br /&gt; &lt;strong&gt;Average&lt;/strong&gt;&lt;br /&gt; &lt;strong&gt;Grant-Date&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 5.25pt"&gt; &lt;strong&gt;Fair Value&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; WIDTH: 68%"&gt;Outstanding at January 1, 2013&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 13%"&gt;33,334&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 13%"&gt;1.39&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Restricted stock granted&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Restricted stock vested&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Restricted stock forfeited&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;Outstanding at June 30, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 33,334&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 1.39&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The Company recorded stock-based compensation expense in the statements of operations as follows (in thousands):&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.5in; WIDTH: 93%" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Three Months Ended&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;June 30,&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Six Months Ended&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;June 30,&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 56%"&gt;Research and development&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;296&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;236&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;513&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;419&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;General and administrative&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 342&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 353&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 608&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 757&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 8.1pt; TEXT-INDENT: -8.1pt"&gt; Total stock-based compensation expense&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 638&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 589&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 1,121&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 1,176&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; As of June 30, 2013, there was approximately $4.9 million of total unrecognized compensation expense (net of estimated forfeitures) related to unvested options and restricted stock awards. 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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nvax_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nvax_TenantImprovementAllowance">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tenant Improvement Allowance</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>nvax_TenantImprovementAllowance</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nvax_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForProceedsFromTenantAllowance">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Net cash outflow or inflow from monetary allowance granted by the landlord to a tenant to entice tenant to move into landlords building which will enable the tenant to prepare the leased premises for tenants occupancy.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 12<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3179-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PaymentsForProceedsFromTenantAllowance</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>44
<FILENAME>R28.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0ELEAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Fair Value Measurements (Reconciliation of Level 3 Assets and Liabilities) (Details) (Warrants Settleable In Cash [Member], USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="1">6 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Jun. 30, 2013</div>
        </th>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Warrants Settleable In Cash [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems', window );"><strong>Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue', window );">Balance at December 31, 2012</a></td>
        <td class="nump">$ 267<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease', window );">Change in fair value of Warrant liability</a></td>
        <td class="num">(267)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue', window );">Balance at June 30, 2013</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of increase (decrease) of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=25499696&amp;loc=d3e19207-110258<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Fair value of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 820<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=25499696&amp;loc=d3e19207-110258<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
    </div>
  </body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>45
<FILENAME>R32.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0ENAAG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Stock-Based Compensation (Summary of Option Activity) (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="1">6 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Jun. 30, 2013</div>
        </th>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">2005 Stock Incentive Plan [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward', window );"><strong>Stock Options</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Outstanding at January 1, 2013</a></td>
        <td class="nump">9,143,825<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Granted</a></td>
        <td class="nump">4,007,500<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Exercised</a></td>
        <td class="num">(133,917)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod', window );">Canceled</a></td>
        <td class="num">(750,008)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Outstanding at June 30, 2013</a></td>
        <td class="nump">12,267,400<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber', window );">Shares exercisable at June 30, 2013</a></td>
        <td class="nump">4,662,956<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant', window );">Shares available for grant at June 30, 2013</a></td>
        <td class="nump">2,518,619<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward', window );"><strong>Weighted-Average Exercise Price</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Outstanding at January 1, 2013</a></td>
        <td class="nump">$ 1.87<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Granted</a></td>
        <td class="nump">$ 1.89<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice', window );">Exercised</a></td>
        <td class="nump">$ 2.02<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice', window );">Canceled</a></td>
        <td class="nump">$ 1.72<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Outstanding at June 30, 2013</a></td>
        <td class="nump">$ 1.88<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice', window );">Options exercisable, June 30, 2013</a></td>
        <td class="nump">$ 2.17<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">1995 Stock Option Plan [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward', window );"><strong>Stock Options</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Outstanding at January 1, 2013</a></td>
        <td class="nump">211,900<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Granted</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Exercised</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod', window );">Canceled</a></td>
        <td class="num">(23,750)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Outstanding at June 30, 2013</a></td>
        <td class="nump">188,150<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber', window );">Shares exercisable at June 30, 2013</a></td>
        <td class="nump">188,150<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward', window );"><strong>Weighted-Average Exercise Price</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Outstanding at January 1, 2013</a></td>
        <td class="nump">$ 4.94<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Granted</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice', window );">Exercised</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice', window );">Canceled</a></td>
        <td class="nump">$ 4.05<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Outstanding at June 30, 2013</a></td>
        <td class="nump">$ 5.04<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice', window );">Options exercisable, June 30, 2013</a></td>
        <td class="nump">$ 5.04<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iii)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iii)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iv)(3)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Gross number of share options (or share units) granted during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of options outstanding, including both vested and non-vested options.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(i)-(ii)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingRollForward</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(i)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePriceRollforward</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average price at which option holders acquired shares when converting their stock options into shares.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of share options (or share units) exercised during the current period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28,29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (c)(1)(iv)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:sharesItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
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  </body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>46
<FILENAME>R24.xml
<DESCRIPTION>IDEA: Stock-Based Compensation (Tables)
<TEXT>
<XBRL>
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</LabelSeparator><Level>2</Level><ElementName>us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock</ElementName><ElementPrefix>us-gaap_</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>terseLabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The following is a summary of option activity under the 2005 Plan and the 1995 Plan for the six months ended June 30, 2013:&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 90%" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt;2005 Stock Incentive Plan&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt;1995 Stock Option Plan&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Stock&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Options&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Weighted-&lt;/strong&gt;&lt;/font&gt;&lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Average&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Exercise&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Price&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Stock&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Options&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;&lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Weighted-&lt;/strong&gt;&lt;/font&gt;&lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Average&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Exercise&lt;/strong&gt;&lt;/font&gt; &lt;br /&gt; &lt;font style="FONT-SIZE: 10pt"&gt;&lt;strong&gt;Price&lt;/strong&gt;&lt;/font&gt;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="WIDTH: 56%"&gt;Outstanding at January 1, 2013&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;9,143,825&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;1.87&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;211,900&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;4.94&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td&gt;Granted&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;4,007,500&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;1.89&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;Exercised&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;(133,917&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;2.02&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;Canceled&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (750,008&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 1.72&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (23,750&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 4.05&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;Outstanding at June 30, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 12,267,400&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 1.88&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 188,150&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 5.04&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt; TEXT-INDENT: -9pt"&gt; Shares exercisable at June 30, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 4,662,956&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 2.17&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 188,150&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 5.04&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt; TEXT-INDENT: -9pt"&gt; Shares available for grant at June 30, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 2,518,619&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 718

 -SubTopic 10

 -Section 50

 -Paragraph 2

 -Subparagraph (c)(1)

 -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901



</ElementReferences><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Summary of Option Activity</Label></Row><Row FlagID="0"><Id>3</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelSeparator>

</LabelSeparator><Level>2</Level><ElementName>us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock</ElementName><ElementPrefix>us-gaap_</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>terseLabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The fair value of stock options granted was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions:&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 95%" cellspacing="0" cellpadding="0" align="center"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="FONT-SIZE: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="3"&gt;Three Months Ended&lt;br /&gt; June 30,&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="3"&gt;Six Months Ended&lt;br /&gt; June 30,&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="FONT-SIZE: 10pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"&gt; 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"&gt; 2012&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"&gt; 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"&gt; 2012&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 36%"&gt; Weighted-average fair value of stock options granted&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"&gt; $1.01&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"&gt; $0.71&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"&gt; $1.00&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"&gt; $0.71&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"&gt; Risk-free interest rate&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0.54%-0.96%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0.59%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0.54%-1.34%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0.59%-1.54%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"&gt; Dividend yield&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt; Volatility&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 55.81%-66.02%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 75.47%-75.52%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 55.81%-73.72%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 75.47%-80.48%&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"&gt; Expected term (in years)&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 3.98-4.25&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 4.24&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 3.98-7.05&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 3.34-7.09&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"&gt; Expected forfeiture rate&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%-23.15%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%-23.15%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%-23.15%&lt;/td&gt; &lt;td style="FONT: 10pt Times New Roman, Times, Serif"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"&gt; 0%-23.15%&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 718

 -SubTopic 10

 -Section 50

 -Paragraph 2

 -Subparagraph (f)(2)

 -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901



</ElementReferences><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Assumptions used to Estimate Grant Date Fair Value of Stock Options granted using Black-Scholes Option-Pricing Model</Label></Row><Row FlagID="0"><Id>4</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelSeparator>

</LabelSeparator><Level>2</Level><ElementName>nvax_ScheduleOfShareBasedCompensationRestrictedStockAwardsActivityTableTextBlock</ElementName><ElementPrefix>nvax_</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>terseLabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The following is a summary of restricted stock awards activity for the six months ended June 30, 2013:&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 85%" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 3.8pt"&gt; &lt;strong&gt;Number of&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 3.8pt"&gt; &lt;strong&gt;Shares&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 5.25pt"&gt; &lt;strong&gt;Per Share&lt;/strong&gt;&lt;br /&gt; &lt;strong&gt;Weighted-&lt;/strong&gt;&lt;br /&gt; &lt;strong&gt;Average&lt;/strong&gt;&lt;br /&gt; &lt;strong&gt;Grant-Date&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 5.25pt"&gt; &lt;strong&gt;Fair Value&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; WIDTH: 68%"&gt;Outstanding at January 1, 2013&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 13%"&gt;33,334&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 13%"&gt;1.39&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Restricted stock granted&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left"&gt;Restricted stock vested&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;-&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Restricted stock forfeited&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;$&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt"&gt;Outstanding at June 30, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 33,334&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 1.39&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Schedule Of Share Based Compensation, Restricted Stock Awards, Activity</ElementDefenition><ElementReferences>No definition available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Summary of Restricted Stock Awards Activity</Label></Row><Row FlagID="0"><Id>5</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelSeparator>

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&lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The Company recorded stock-based compensation expense in the statements of operations as follows (in thousands):&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; MARGIN-LEFT: 0.5in; WIDTH: 93%" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Three Months Ended&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;June 30,&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Six Months Ended&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;June 30,&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 56%"&gt;Research and development&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;296&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;236&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;513&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt; &lt;td style="TEXT-ALIGN: right; WIDTH: 8%"&gt;419&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;General and administrative&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 342&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 353&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 608&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; 757&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 8.1pt; TEXT-INDENT: -8.1pt"&gt; Total stock-based compensation expense&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 638&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 589&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 1,121&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 1,176&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; 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</LabelSeparator><Level>2</Level><ElementName>us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock</ElementName><ElementPrefix>us-gaap_</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>terseLabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in"&gt; Note 3 - Summary of Significant Accounting Policies&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &lt;strong&gt;&lt;em&gt;Basis of Presentation&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. The balance sheet as of June 30, 2013, statements of operations and statements of comprehensive loss for the three and six months ended June 30, 2013 and 2012 and the statements of cash flows for the six months ended June 30, 2013 and 2012 are unaudited, but include all adjustments (consisting of normal recurring adjustments) that the Company considers necessary for a fair presentation of the financial position, operating results, comprehensive loss and cash flows, respectively, for the periods presented. Although the Company believes that the disclosures in these financial statements are adequate to make the information presented not misleading, certain information and footnote information normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the United States Securities and Exchange Commission ("SEC").&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Results for any interim period are not necessarily indicative of results for any future interim period or for the entire year. The accompanying unaudited financial statements should be read in conjunction with the financial statements and notes thereto included in the Company&amp;#39;s Annual Report on Form 10-K for the year ended December 31, 2012.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &lt;strong&gt;&lt;em&gt;Use of Estimates&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The preparation of the financial statements in conformity with U.S. GAAP 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 financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from these estimates.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &lt;strong&gt;&lt;em&gt;Fair Value Measurements&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The Company applies Accounting Standards Codification ("ASC") Topic 820, &lt;em&gt;Fair Value Measurements and Disclosures&lt;/em&gt;, for financial and non-financial assets and liabilities.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; ASC 820 discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow) and the cost approach (cost to replace the service capacity of an asset or replacement cost). The statement utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 0.25in"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 0.25in"&gt;&amp;middot;&lt;/td&gt; &lt;td style="TEXT-ALIGN: justify"&gt;Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 0.25in"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 0.25in"&gt;&amp;middot;&lt;/td&gt; &lt;td style="TEXT-ALIGN: justify"&gt;Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 0.25in"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 0.25in"&gt;&amp;middot;&lt;/td&gt; &lt;td style="TEXT-ALIGN: justify"&gt;Level 3: Unobservable inputs that reflect the reporting entity&amp;#39;s own assumptions.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; Investments&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Investments consist of commercial paper, corporate notes and an investment in one auction rate security. Classification of marketable securities between current and non-current is dependent upon the original maturity date at purchase. Those securities purchased with original maturities greater than 90 days, but less than one year are classified as current and those with greater than one year are classified as non-current.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Interest and dividend income is recorded when earned and included in interest income. Premiums and discounts, if any, on investments are amortized or accreted to maturity and included in interest income. The specific identification method is used in computing realized gains and losses on the sale of the Company&amp;#39;s securities.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The Company has classified its investments as available-for-sale since the Company may need to liquidate these securities within the next year. The available-for-sale securities are carried at fair value and unrealized gains and losses on these securities, if determined to be temporary, are included in accumulated other comprehensive income (loss) in stockholders&amp;#39; equity. Investments are evaluated periodically to determine whether a decline in value is "other-than-temporary." The term "other-than-temporary" is not intended to indicate a permanent decline in value. Rather, it means that the prospects for a near term recovery of value are not necessarily favorable, or that there is a lack of evidence to support fair values equal to, or greater than, the carrying value of the security. Management reviews criteria, such as the magnitude and duration of the decline, as well as the Company&amp;#39;s ability to hold the securities until market recovery, to predict whether the loss in value is other-than-temporary. If a decline in value is determined to be other-than-temporary, the value of the security is reduced and the impairment is recorded in the statement of operations.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; Restricted Cash&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The Company&amp;#39;s restricted cash includes payments received under the PATH agreement (See Note 8) until such time as the Company has paid for the work performed for the related Phase 2 RSV clinical trial. In addition, the Company&amp;#39;s non-current restricted cash with respect to its new manufacturing, laboratory and office space in Gaithersburg, Maryland functions as collateral for letters of credit, which serve as security deposits for the duration of the leases.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &lt;strong&gt;&lt;em&gt;Net Loss per Share&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Net loss per share is computed using the weighted average number of shares of common stock outstanding. All outstanding warrants, stock options and unvested restricted stock awards totaling 15,832,208 shares and 13,110,708 shares at June 30, 2013 and 2012, respectively, are excluded from the computation, as their effect is antidilutive.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.25in"&gt; &lt;strong&gt;&lt;em&gt;Reclassifications&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Within the June 30, 2012 statement of operations, certain overhead expenses relating to supply chain management of $0.4 million have been reclassified from general and administrative expenses to research and development expenses. Also, within the June 30, 2012 statement of cash flows, additional lease incentives received of $1.1 million recorded in the change in accounts payable and accrued expenses have been reclassified and are included in the change in lease incentives received. All of these reclassifications have been made to conform to current year presentation. In its Quarterly Report on Form 10-Q for the period ended March 31, 2013, the Company had recorded $0.2 million and reclassified $0.1 million of patent costs from general and administrative expenses to research and development expenses for the three months ended March 31, 2013 and 2012, respectively. 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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0E2LAC">
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          <div style="width: 200px;"><strong>Notes Payable (Narrative) (Details) (USD $)<br></strong></div>
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        <th class="th" colspan="1">1 Months Ended</th>
        <th class="th" colspan="1">6 Months Ended</th>
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          <div>Sep. 30, 2012</div>
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          <div>Jun. 30, 2013</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtInstrumentFaceAmount', window );">Borrowing limit of loan</a></td>
        <td class="nump">$ 2,000,000<span></span></td>
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        <td class="nump">11.68%<span></span></td>
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        <td class="text">42 months<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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                <p>Percentage points added to the reference rate to compute the variable rate on the debt instrument.</p>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Face (par) amount of debt instrument at time of issuance.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 835<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 835<br><br> -SubTopic 30<br><br> -Section 55<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6584090&amp;loc=d3e28878-108400<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtInstrumentFaceAmount</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                  <tr>
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                    <td>credit</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The average effective interest rate during the reporting period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 835<br><br> -SubTopic 30<br><br> -Section 45<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28551-108399<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 22<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.22(a)(1))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtInstrumentInterestRateDuringPeriod</nobr></td>
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                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Minimum contractual interest rate for funds borrowed, under the debt agreement.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 22<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.22(a)(2))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of the required periodic payments including both interest and principal payments.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 22<br><br> -Article 5<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 470<br><br> -Section 50<br><br> -Paragraph 3<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6479336&amp;loc=d3e64711-112823<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DebtInstrumentPeriodicPayment</nobr></td>
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                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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                    <td><strong> Period Type:</strong></td>
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        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow during the period from additional borrowings in aggregate debt. Includes proceeds from short-term and long-term debt.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ProceedsFromIssuanceOfDebt</nobr></td>
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 -Name Regulation S-X (SX)

 -Number 210

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Reference 2: http://www.xbrl.org/2003/role/presentationRef

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 -Name Accounting Standards Codification

 -Topic 505

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 505

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Reference 4: http://www.xbrl.org/2003/role/presentationRef

 -Publisher SEC

 -Name Regulation S-X (SX)

 -Number 210

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 -Name Accounting Standards Codification

 -Glossary Financing Activities

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Reference 2: http://www.xbrl.org/2003/role/presentationRef

 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 230

 -SubTopic 10

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 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 225

 -SubTopic 10

 -Section S99

 -Paragraph 2

 -Subparagraph (SX 210.5-03.2(e))

 -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688



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 -Publisher FASB

 -Name Accounting Standards Codification

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 -Section 50

 -Paragraph 1

 -URI http://asc.fasb.org/extlink&amp;oid=6501960&amp;loc=d3e128462-111756



Reference 2: http://www.xbrl.org/2003/role/presentationRef

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 -Name Accounting Standards Codification

 -Topic 225

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 -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688



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 -Name Accounting Standards Codification

 -Topic 225

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 -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688



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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Face amount or stated value per share of common stock.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
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                <p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p>
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                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
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                <p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 30<br><br> -Article 5<br><br><br><br></p>
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                <table border="0" cellpadding="0" cellspacing="0">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br></p>
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                <p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29<br><br> -Article 5<br><br><br><br></p>
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                <p>Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28,29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Stock-Based Compensation<br></strong></div>
        </th>
        <th class="th" colspan="1">6 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Jun. 30, 2013</div>
        </th>
      </tr>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>Stock-Based Compensation [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock', window );">Stock-Based Compensation</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Note 7 - Stock-Based Compensation</strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>&nbsp;</strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> <strong><em>Stock Options</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> <strong><em>&nbsp;</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The Company has granted equity awards under several plans. Under the 2005 Stock Incentive Plan (the "2005 Plan"), equity awards may be granted to officers, directors, employees, consultants and advisors to the Company and any present or future subsidiary. The 2005 Plan, approved in May 2005 and amended in June 2007, June 2011, June 2012 and June 2013 by the Company&#39;s stockholders, currently authorizes the grant of equity awards for up to 22,312,192 shares of common stock, which included, at the time of approval of the 2005 Plan, a maximum 5,746,468 shares of common stock subject to stock options outstanding under the Company&#39;s 1995 Stock Option Plan (the "1995 Plan") that may revert to and become issuable under the 2005 Plan if such options should expire or otherwise terminate unexercised. The Company received approval at its 2013 annual meeting of stockholders to increase the number of shares of common stock available for issuance under the 2005 Plan by 4,000,000 shares. The term of the Company&#39;s 1995 Plan has expired. Outstanding stock options remain in existence in accordance with their terms and no new awards will be made under the 1995 Plan.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> Under the 2005 Plan and the 1995 Plan, incentive stock options, having a maximum term of 10 years, can be or were granted at no less than 100% of the fair value of the Company&#39;s common stock at the time of grant and are generally exercisable over periods ranging from six months to four years. There is no minimum exercise price for non-statutory stock options.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0in"> <strong><em>&nbsp;</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0in"> <strong><em>Stock Options Awards</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The following is a summary of option activity under the 2005 Plan and the 1995 Plan for the six months ended June 30, 2013:</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> <strong>&nbsp;</strong></p> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 90%" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap">2005 Stock Incentive Plan</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap">1995 Stock Option Plan</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"><font style="FONT-SIZE: 10pt"><strong>Stock</strong></font> <br /> <font style="FONT-SIZE: 10pt"><strong>Options</strong></font></td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"><font style="FONT-SIZE: 10pt"><strong>Weighted-</strong></font><br /> <font style="FONT-SIZE: 10pt"><strong>Average</strong></font> <br /> <font style="FONT-SIZE: 10pt"><strong>Exercise</strong></font> <br /> <font style="FONT-SIZE: 10pt"><strong>Price</strong></font></td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"><font style="FONT-SIZE: 10pt"><strong>Stock</strong></font> <br /> <font style="FONT-SIZE: 10pt"><strong>Options</strong></font></td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"><font style="FONT-SIZE: 10pt"><strong>Weighted-</strong></font><br /> <font style="FONT-SIZE: 10pt"><strong>Average</strong></font> <br /> <font style="FONT-SIZE: 10pt"><strong>Exercise</strong></font> <br /> <font style="FONT-SIZE: 10pt"><strong>Price</strong></font></td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 56%">Outstanding at January 1, 2013</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: right; WIDTH: 8%">9,143,825</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="TEXT-ALIGN: right; WIDTH: 8%">1.87</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: right; WIDTH: 8%">211,900</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="TEXT-ALIGN: right; WIDTH: 8%">4.94</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td>Granted</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">4,007,500</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">1.89</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td>Exercised</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">(133,917</td> <td style="TEXT-ALIGN: left">)</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">2.02</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt">Canceled</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (750,008</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 1.72</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (23,750</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 4.05</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt">Outstanding at June 30, 2013</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 12,267,400</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 1.88</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 188,150</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 5.04</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt; TEXT-INDENT: -9pt"> Shares exercisable at June 30, 2013</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 4,662,956</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 2.17</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 188,150</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 5.04</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td>&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 9pt; TEXT-INDENT: -9pt"> Shares available for grant at June 30, 2013</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 2,518,619</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: right">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: right">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: right">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The fair value of stock options granted was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions:</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> <strong>&nbsp;</strong></p> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 95%" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="3">Three Months Ended<br /> June 30,</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif" colspan="3">Six Months Ended<br /> June 30,</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"> 2013</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"> 2012</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"> 2013</td> <td style="PADDING-BOTTOM: 1pt; FONT: bold 10pt Times New Roman, Times, Serif"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT: bold 10pt Times New Roman, Times, Serif"> 2012</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 36%"> Weighted-average fair value of stock options granted</td> <td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"> &nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"> $1.01</td> <td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"> &nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"> $0.71</td> <td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"> &nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"> $1.00</td> <td style="FONT: 10pt Times New Roman, Times, Serif; WIDTH: 2%"> &nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 14%"> $0.71</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> Risk-free interest rate</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0.54%-0.96%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0.59%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0.54%-1.34%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0.59%-1.54%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> Dividend yield</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT: 10pt Times New Roman, Times, Serif"> Volatility</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 55.81%-66.02%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 75.47%-75.52%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 55.81%-73.72%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 75.47%-80.48%</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> Expected term (in years)</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 3.98-4.25</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 4.24</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 3.98-7.05</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 3.34-7.09</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left; FONT: 10pt Times New Roman, Times, Serif"> Expected forfeiture rate</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0%-23.15%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0%-23.15%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0%-23.15%</td> <td style="FONT: 10pt Times New Roman, Times, Serif">&nbsp;</td> <td style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif"> 0%-23.15%</td> </tr> </table> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The aggregate intrinsic value and weighted-average remaining contractual term of stock options outstanding as of June 30, 2013 was approximately $4.3 million and 7.6 years, respectively. The aggregate intrinsic value and weighted-average remaining contractual term of stock options exercisable as of June 30, 2013 was approximately $1.5 million and 5.6 years, respectively. The aggregate intrinsic value represents the total intrinsic value (the difference between the Company&#39;s closing stock price on the last trading day of the period and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on June 30, 2013. This amount is subject to change based on changes to the fair value of the Company&#39;s common stock. The aggregate intrinsic value of options exercised for the six months ended June 30, 2013 and 2012 was less than $0.1 million.</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> <strong><em>&nbsp;</em></strong></p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> <strong><em>Employee Stock Purchase Plan</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The Company received approval at its 2013 annual meeting of stockholders to adopt an Employee Stock Purchase Plan (the "ESPP"), which currently authorizes an aggregate of 2,000,000 shares of Common Stock to be purchased. The ESPP allows employees to purchase shares of Common Stock of the Company at each purchase date through payroll deductions of up to a maximum of 15% of their compensation, at 85% of the lesser of the market price of the shares at the time of purchase or the market price on the beginning date of an option period (or, if later, the date during the option when the employee was first eligible to participate). The first option period under the ESPP commenced August 1, 2013.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0in"> <strong><em>Restricted Stock Awards</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> Under the 2005 Plan, the Company has granted restricted stock awards subject to certain performance-based and time-based vesting conditions which, if not met, would result in forfeiture of the shares and reversal of any previously recognized related stock-based compensation expense.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The following is a summary of restricted stock awards activity for the six months ended June 30, 2013:</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> <strong>&nbsp;</strong></p> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 85%" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 3.8pt"> <strong>Number of</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 3.8pt"> <strong>Shares</strong></p> </td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 5.25pt"> <strong>Per Share</strong><br /> <strong>Weighted-</strong><br /> <strong>Average</strong><br /> <strong>Grant-Date</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 5.25pt"> <strong>Fair Value</strong></p> </td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; WIDTH: 68%">Outstanding at January 1, 2013</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: right; WIDTH: 13%">33,334</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="TEXT-ALIGN: right; WIDTH: 13%">1.39</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="TEXT-ALIGN: left">Restricted stock granted</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left">Restricted stock vested</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">$</td> <td style="TEXT-ALIGN: right">-</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Restricted stock forfeited</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left">$</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 2.5pt">Outstanding at June 30, 2013</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 33,334</td> <td style="PADDING-BOTTOM: 2.5pt; 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FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Three Months Ended</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>June 30,</strong></p> </td> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="6" nowrap="nowrap"> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Six Months Ended</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>June 30,</strong></p> </td> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="TEXT-ALIGN: left; WIDTH: 56%">Research and development</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="TEXT-ALIGN: right; WIDTH: 8%">296</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="TEXT-ALIGN: right; WIDTH: 8%">236</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="TEXT-ALIGN: right; WIDTH: 8%">513</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="TEXT-ALIGN: right; WIDTH: 8%">419</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">General and administrative</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 342</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 353</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 608</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> 757</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 8.1pt; TEXT-INDENT: -8.1pt"> Total stock-based compensation expense</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 638</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 589</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 1,121</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 1,176</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> As of June 30, 2013, there was approximately $4.9 million of total unrecognized compensation expense (net of estimated forfeitures) related to unvested options and restricted stock awards. This unrecognized compensation expense is expected to be recognized over a weighted-average period of 1.6 years. This estimate does not include the impact of other possible stock-based awards that may be made during future periods.</p> <!--EndFragment--></div> </div><span></span></td>
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</LabelSeparator><Level>2</Level><ElementName>nvax_AcquisitionOfIsconovaAbTextBlock</ElementName><ElementPrefix>nvax_</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>terseLabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &lt;strong&gt;Note 13 - Acquisition of Isconova AB&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &lt;font style="COLOR: windowtext"&gt;On July 31, 2013, the Company announced that, pursuant to its public tender offer to acquire all outstanding shares and warrants of Sweden-based Isconova AB ("Isconova") directly from such holders and a private offer for all outstanding stock options, it had acquired: 97.4% of the outstanding Isconova shares for approximately 15.1 million shares of Novavax Common Stock; 100% of the outstanding 2005-I warrants and 2005-II warrants for SEK 140,285 (or approximately $22,000 based on current exchange rate); and 100% of the stock options, for which it will issue 218,120 shares of Novavax Common Stock. The Company initiated the public tender offer on July 9, 2013 and expects to settle these transactions in August 2013.&lt;/font&gt; In addition, the Company has extended the tender acceptance period until August 20, 2013 in order to attempt to acquire the remaining 2.6% of the outstanding Isconova shares.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; Isconova has focused its recent efforts on the development of saponin-based, immune-modulating adjuvants that work with different types of vaccine antigens to enhance the immunogenic effect of the antigen. A number of vaccines are under development by various vaccine companies, as well as by Isconova, using Isconova&amp;#39;s third generation nanoparticle adjuvant, Matrix-M&amp;trade;. The Company believes that Isconova&amp;#39;s adjuvants will be powerful complements to its recombinant vaccine programs as three of its clinical-stage programs and many of its pre-clinical programs are currently testing adjuvants to see whether immune responses can be enhanced.&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Acquisition Of Isconova Ab [Text Block]</ElementDefenition><ElementReferences>No definition available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Acquisition Of Isconova AB</Label></Row></Rows><Footnotes /><IsEquityReport>false</IsEquityReport><ReportName>Acquisition of Isconova AB</ReportName><MonetaryRoundingLevel>UnKnown</MonetaryRoundingLevel><SharesRoundingLevel>UnKnown</SharesRoundingLevel><PerShareRoundingLevel>UnKnown</PerShareRoundingLevel><ExchangeRateRoundingLevel>UnKnown</ExchangeRateRoundingLevel><HasCustomUnits>true</HasCustomUnits><IsEmbedReport>false</IsEmbedReport><IsMultiCurrency>false</IsMultiCurrency><ReportType>Sheet</ReportType><RoleURI>http://www.novavax.com/role/AcquisitionOfIsconovaAb</RoleURI><NumberOfCols>1</NumberOfCols><NumberOfRows>2</NumberOfRows></InstanceReport>
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    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EMKAC">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>STATEMENTS OF COMPREHENSIVE LOSS (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
        <th class="th" colspan="2">6 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Jun. 30, 2013</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2012</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2013</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComprehensiveIncomeNetOfTaxAbstract', window );"><strong>Comprehensive loss:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
        <td class="num">$ (12,633)<span></span></td>
        <td class="num">$ (5,920)<span></span></td>
        <td class="num">$ (22,630)<span></span></td>
        <td class="num">$ (13,256)<span></span></td>
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        <td class="nump">168<span></span></td>
        <td class="num">(36)<span></span></td>
        <td class="nump">207<span></span></td>
        <td class="nump">108<span></span></td>
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        <td class="num">$ (12,465)<span></span></td>
        <td class="num">$ (5,956)<span></span></td>
        <td class="num">$ (22,423)<span></span></td>
        <td class="num">$ (13,148)<span></span></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=16317811<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=d3e557-108580<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Paragraph 20<br><br> -Article 9<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 28<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Other Comprehensive Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6519514<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Net Income<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6518256<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.19)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.18)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 944<br><br> -SubTopic 225<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.7-04.22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=d3e565-108580<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 19<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after tax, before reclassification adjustments, of unrealized holding gain (loss) on available-for-sale securities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=d3e637-108580<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 220<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 10A<br><br> -Subparagraph (e)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=SL7669646-108580<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax</nobr></td>
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<html>
  <head>
    <META http-equiv="Content-Type" content="text/html; charset=us-ascii">
    <link rel="StyleSheet" type="text/css" href="report.css"><script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script></head>
  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EQ1AG">
      <tr>
        <th class="tl" colspan="1" rowspan="1">
          <div style="width: 200px;"><strong>BALANCE SHEETS (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th">
          <div>Jun. 30, 2013</div>
        </th>
        <th class="th">
          <div>Dec. 31, 2012</div>
        </th>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current assets:</strong></a></td>
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        <td class="nump">$ 2,574<span></span></td>
        <td class="nump">$ 17,399<span></span></td>
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        <td class="nump">38,025<span></span></td>
        <td class="nump">26,712<span></span></td>
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        <td class="nump">986<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Accounts receivables</a></td>
        <td class="nump">907<span></span></td>
        <td class="nump">1,011<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_GovernmentContractReceivableUnbilledAmounts', window );">Unbilled receivables</a></td>
        <td class="nump">1,815<span></span></td>
        <td class="nump">1,570<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseCurrent', window );">Prepaid expenses</a></td>
        <td class="nump">2,024<span></span></td>
        <td class="nump">2,559<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsCurrent', window );">Other current assets</a></td>
        <td class="nump">20<span></span></td>
        <td class="nump">171<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">Total current assets</a></td>
        <td class="nump">45,365<span></span></td>
        <td class="nump">50,408<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesNoncurrent', window );">Investments available-for-sale</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">6,233<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and equipment, net</a></td>
        <td class="nump">13,320<span></span></td>
        <td class="nump">11,456<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Goodwill', window );">Goodwill</a></td>
        <td class="nump">33,141<span></span></td>
        <td class="nump">33,141<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RestrictedCashAndCashEquivalentsNoncurrent', window );">Restricted cash</a></td>
        <td class="nump">757<span></span></td>
        <td class="nump">756<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAssetsNoncurrent', window );">Other non-current assets</a></td>
        <td class="nump">335<span></span></td>
        <td class="nump">351<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">Total assets</a></td>
        <td class="nump">92,918<span></span></td>
        <td class="nump">102,345<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>Current liabilities:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Accounts payable</a></td>
        <td class="nump">2,946<span></span></td>
        <td class="nump">3,228<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrent', window );">Accrued expenses and other current liabilities</a></td>
        <td class="nump">7,223<span></span></td>
        <td class="nump">7,275<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueCurrent', window );">Deferred revenue</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">258<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeaseObligationsCurrent', window );">Current portion of capital lease</a></td>
        <td class="nump">60<span></span></td>
        <td class="nump">58<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NotesPayableCurrent', window );">Current portion of notes payable</a></td>
        <td class="nump">571<span></span></td>
        <td class="nump">157<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilitiesCurrent', window );">Warrant liability</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="nump">267<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRentCreditCurrent', window );">Deferred rent</a></td>
        <td class="nump">456<span></span></td>
        <td class="nump">432<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">Total current liabilities</a></td>
        <td class="nump">11,256<span></span></td>
        <td class="nump">11,675<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRevenueNoncurrent', window );">Deferred revenue</a></td>
        <td class="nump">2,500<span></span></td>
        <td class="nump">2,500<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CapitalLeaseObligationsNoncurrent', window );">Non-current portion of capital lease</a></td>
        <td class="nump">206<span></span></td>
        <td class="nump">237<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LongTermNotesPayable', window );">Non-current portion of notes payable</a></td>
        <td class="nump">1,653<span></span></td>
        <td class="nump">753<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredRentCreditNoncurrent', window );">Deferred rent</a></td>
        <td class="nump">8,077<span></span></td>
        <td class="nump">6,940<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">Total liabilities</a></td>
        <td class="nump">23,692<span></span></td>
        <td class="nump">22,105<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">Commitments and contingencies</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>Stockholders' equity:</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockValue', window );">Preferred stock, $0.01 par value, 2,000,000 shares authorized; no shares issued and outstanding</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Common stock, $0.01 par value, 300,000,000 shares authorized at June 30, 2013 and 200,000,000 shares authorized at December 31, 2012; and 153,165,006 shares issued and 152,709,576 shares outstanding at June 30, 2013 and 148,398,747 shares issued and 147,943,317 shares outstanding at December 31, 2012</a></td>
        <td class="nump">1,532<span></span></td>
        <td class="nump">1,484<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapital', window );">Additional paid-in capital</a></td>
        <td class="nump">450,300<span></span></td>
        <td class="nump">438,939<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Accumulated deficit</a></td>
        <td class="num">(380,793)<span></span></td>
        <td class="num">(358,163)<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TreasuryStockValue', window );">Treasury stock, 455,430 shares, cost basis</a></td>
        <td class="num">(2,450)<span></span></td>
        <td class="num">(2,450)<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax', window );">Accumulated other comprehensive income</a></td>
        <td class="nump">637<span></span></td>
        <td class="nump">430<span></span></td>
      </tr>
      <tr class="rou">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total stockholders' equity</a></td>
        <td class="nump">69,226<span></span></td>
        <td class="nump">80,240<span></span></td>
      </tr>
      <tr class="reu">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total liabilities and stockholders' equity</a></td>
        <td class="nump">$ 92,918<span></span></td>
        <td class="nump">$ 102,345<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccountsPayableCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.3-4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph a(1)<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 4<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccountsReceivableNetCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedLiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccruedLiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14A<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=SL7669686-108580<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 11<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=d3e637-108580<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358780&amp;loc=d3e681-108580<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapital">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.30(a)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AdditionalPaidInCapital</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 12<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 18<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Assets</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.9)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6801-107765<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 9<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AssetsCurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecuritiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of investment in debt and equity securities categorized neither as trading securities nor held-to-maturity securities and intended be sold or mature one year or operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 320<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 25<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28360136&amp;loc=d3e22054-111558<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 320<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6871852&amp;loc=d3e26626-111562<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AvailableForSaleSecuritiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AvailableForSaleSecuritiesNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Investments in debt and equity securities which are categorized neither as held-to-maturity nor trading and which are intended to be sold or mature more than one year from the balance sheet date or operating cycle, if longer. Such securities are reported at fair value; unrealized gains (losses) related to Available-for-sale Securities are excluded from earnings and reported in a separate component of shareholders' equity (other comprehensive income), unless the Available-for-sale security is designated as a hedge or is determined to have had an other than temporary decline in fair value below its amortized cost basis. All or a portion of the unrealized holding gain (loss) of an Available-for-sale security that is designated as being hedged in a fair value hedge is recognized in earnings during the period of the hedge, as are other than temporary declines in fair value below the cost basis for investments in equity securities and debt securities that an entity intends to sell or it is more likely than not that it will be required to sell before the recovery of its amortized cost basis. Other than temporary declines in fair value below the cost basis for debt securities categorized as Available-for-sale that an entity does not intend to sell and for which it is not more likely than not that the entity will be required to sell before the recovery of its amortized cost basis are bifurcated into credit losses and losses related to all other factors. Other than temporary declines in fair value below cost basis related to credit losses are recognized in earnings, and losses related to all other factors are recognized in other comprehensive income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 320<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6871852&amp;loc=d3e26626-111562<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Available-for-Sale Securities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6505594<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_AvailableForSaleSecuritiesNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeaseObligationsCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of capital lease obligation due within one year or the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455314&amp;loc=d3e45023-112735<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CapitalLeaseObligationsCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CapitalLeaseObligationsNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount equal to the present value (the principal) at the beginning of the lease term of minimum lease payments during the lease term (excluding that portion of the payments representing executory costs such as insurance, maintenance, and taxes to be paid by the lessor, together with any profit thereon) net of payments or other amounts applied to the principal, through the balance sheet date and due to be paid more than one year (or one operating cycle, if longer) after the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 22<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455398&amp;loc=d3e45280-112737<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6455314&amp;loc=d3e45023-112735<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CapitalLeaseObligationsNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash Equivalents<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3044-108585<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingencies">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 450<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14326-108349<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.25)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 25<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 17<br><br><br><br> -Article 9<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-03.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br><br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.(a),19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommitmentsAndContingencies</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CommonStockValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRentCreditCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>For a classified balance sheet, the cumulative difference as of the balance sheet date between the payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense, by the lessor or lessee, respectively, within one year of the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 25<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7501430&amp;loc=d3e39927-112707<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredRentCreditCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRentCreditNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>For a classified balance sheet, the cumulative difference between the rental income or payments required by a lease agreement and the rental income or expense recognized on a straight-line basis, or other systematic and rational basis more representative of the time pattern in which use or benefit is granted or derived from the leased property, expected to be recognized in income or expense, by the lessor or lessee, respectively, more than one year after the balance sheet date.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 840<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 25<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7501430&amp;loc=d3e39927-112707<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.26(c))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredRentCreditNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 605<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 8<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 13<br><br><br><br> -Section A<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredRevenueCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredRevenueNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 605<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SAB TOPIC 13.A.4(a).Q1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012821&amp;loc=d3e214044-122780<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 8<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 13<br><br><br><br> -Section A<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DeferredRevenueNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeLiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Current Liabilities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 10<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28364263&amp;loc=d3e13433-108611<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41228-113958<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 15<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28364263&amp;loc=d3e13495-108611<br><br><br><br><br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=20225523&amp;loc=SL20225862-175312<br><br><br><br><br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41271-113958<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DerivativeLiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Goodwill">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=14024403&amp;loc=d3e13816-109267<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6388280&amp;loc=d3e13770-109266<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Goodwill</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GovernmentContractReceivableUnbilledAmounts">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Unbilled amounts (net of unliquidated progress payments) of government contract receivables.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 912<br><br><br><br> -SubTopic 310<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 9<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6471842&amp;loc=d3e55376-109406<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_GovernmentContractReceivableUnbilledAmounts</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19-26)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_Liabilities</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.32)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 25<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 32<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesAndStockholdersEquity</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.21)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 21<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LiabilitiesCurrentAbstract</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LongTermNotesPayable">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Carrying value as of the balance sheet date of notes payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 22<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_LongTermNotesPayable</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NotesPayableCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Sum of the carrying values as of the balance sheet date of the portions of long-term notes payable due within one year or the operating cycle if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19,20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 19, 20<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_NotesPayableCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate carrying amount, as of the balance sheet date, of current assets not separately disclosed in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.8)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherAssetsCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAssetsNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 17<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_OtherAssetsNoncurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PreferredStockValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of asset related to consideration paid in advance for costs that provide economic benefits within a future period of one year or the normal operating cycle, if longer.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Current Assets<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509628<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (g)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6787-107765<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 340<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 05<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6386993&amp;loc=d3e5879-108316<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PrepaidExpenseCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.13)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 7<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_PropertyPlantAndEquipmentNet</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The carrying amounts of cash and cash equivalent items which are restricted as to withdrawal or usage. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or entity statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits. Excludes compensating balance arrangements that are not agreements which legally restrict the use of cash amounts shown on the balance sheet. For a classified balance sheet represents the current portion only (the noncurrent portion has a separate concept); there is a separate and distinct element for unclassified presentations.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RestrictedCashAndCashEquivalentsAtCarryingValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RestrictedCashAndCashEquivalentsNoncurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Cash and equivalents whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 1<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RestrictedCashAndCashEquivalentsNoncurrent</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
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                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>debit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.31(a)(3))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_RetainedEarningsAccumulatedDeficit</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td>instant</td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 4.E)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br><br><br><br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 4<br><br><br><br> -Section E<br><br><br><br><br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29-31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br><br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30, 31<br><br><br><br> -Article 5<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquity</nobr></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_StockholdersEquityAbstract</nobr></td>
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          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23315-112656<br><br><br><br><br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_TreasuryStockValue</nobr></td>
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</LabelSeparator><Level>2</Level><ElementName>nvax_StockWarrantsTextBlock</ElementName><ElementPrefix>nvax_</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>terseLabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in"&gt; Note 10 - Warrant Liability&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.55in"&gt; In July 2008, the Company completed a registered direct offering of 6,686,650 units, raising approximately $17.5 million in net proceeds. Each unit consisted of one share of common stock and a warrant to purchase 0.5 shares of common stock (the "Warrants") at a price of $2.68 per unit. The Warrants represent the right to acquire an aggregate of 3,343,325 shares of common stock at an exercise price of $3.62 per share and were exercisable between January 31, 2009 and July 31, 2013.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.55in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.55in"&gt; &lt;font style="COLOR: black"&gt;During the six months ended June 30, 2013 and 2012, the Company recorded as other income (expense)&lt;/font&gt; in its statements of operations &lt;font style="COLOR: black"&gt;a change in fair value of warrant liability of $0.3 million and $0 million, respectively. As of June 30, 2013, the warrant liability recorded on the balance sheet was $0 million. All Warrants expired unexercised on July 31, 2013.&lt;/font&gt;&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Stock Warrant Disclosure</ElementDefenition><ElementReferences>No definition available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Warrant Liability</Label></Row></Rows><Footnotes /><IsEquityReport>false</IsEquityReport><ReportName>Warrant Liability</ReportName><MonetaryRoundingLevel>UnKnown</MonetaryRoundingLevel><SharesRoundingLevel>UnKnown</SharesRoundingLevel><PerShareRoundingLevel>UnKnown</PerShareRoundingLevel><ExchangeRateRoundingLevel>UnKnown</ExchangeRateRoundingLevel><HasCustomUnits>true</HasCustomUnits><IsEmbedReport>false</IsEmbedReport><IsMultiCurrency>false</IsMultiCurrency><ReportType>Sheet</ReportType><RoleURI>http://www.novavax.com/role/WarrantLiability</RoleURI><NumberOfCols>1</NumberOfCols><NumberOfRows>2</NumberOfRows></InstanceReport>
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Each Equipment Loan bears interest at the three-year U.S. Government treasury rate plus 11.68%, provided that the rate shall not be less than 12.1%, and is to be repaid over forty-two (42) months. GE will maintain a security interest in all equipment financed under the Equipment Loan. During the six months ended June 30, 2013, the Company financed $1.5 million in total at interest rates of 12.1% with monthly principal payments totaling $34,529 ("2013 Funding"). Interest accrues on the outstanding balance until paid in full. As of June 30, 2013, the Company has financed $2.0 million in total under the Equipment Loan.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; Aggregate future minimum principal payments on the Equipment Loan, including the 2013 Funding, at June 30, 2013 are as follows (in thousands):&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 90%; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0px"&gt; &lt;strong&gt;&lt;u&gt;Year&lt;/u&gt;&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; PADDING-LEFT: 0px" colspan="2"&gt;Amount&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px; WIDTH: 87%"&gt;2013 (remainder)&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: right; PADDING-LEFT: 0px; WIDTH: 10%"&gt; 286&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; 2014&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: right; PADDING-LEFT: 0px"&gt; 571&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; 2015&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: right; PADDING-LEFT: 0px"&gt; 571&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; 2016&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px"&gt; 396&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; 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<DESCRIPTION>IDEA: Fair Value Measurements (Fair Value Hierarchy) (Details)
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          <div style="width: 200px;"><strong>Investments (Details) (USD $)<br>In Thousands, unless otherwise specified</strong></div>
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        <th class="th" colspan="1">6 Months Ended</th>
        <th class="th" colspan="1">12 Months Ended</th>
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          <div>Jun. 30, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesGrossUnrealizedLoss', window );">Gross Unrealized Losses</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecurities', window );">Fair Value</a></td>
        <td class="nump">38,025<span></span></td>
        <td class="nump">32,945<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Auction Rate Securities [Member]</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems', window );"><strong>Schedule of Available-for-sale Securities [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAmortizedCost', window );">Amortized Cost</a></td>
        <td class="nump">1,175<span></span></td>
        <td class="nump">1,175<span></span></td>
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        <td class="nump">635<span></span></td>
        <td class="nump">409<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesGrossUnrealizedLoss', window );">Gross Unrealized Losses</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecurities', window );">Fair Value</a></td>
        <td class="nump">1,810<span></span></td>
        <td class="nump">1,584<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Corporate Debt Securities [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAvailableForSaleSecuritiesLineItems', window );"><strong>Schedule of Available-for-sale Securities [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesAmortizedCost', window );">Amortized Cost</a></td>
        <td class="nump">36,213<span></span></td>
        <td class="nump">31,340<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesGrossUnrealizedGains', window );">Gross Unrealized Gains</a></td>
        <td class="nump">2<span></span></td>
        <td class="nump">21<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesGrossUnrealizedLoss', window );">Gross Unrealized Losses</a></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecurities', window );">Fair Value</a></td>
        <td class="nump">$ 36,215<span></span></td>
        <td class="nump">$ 31,361<span></span></td>
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          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of investment in debt and equity securities categorized neither as held-to-maturity nor trading.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 25<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28360136&amp;loc=d3e22054-111558<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -Subparagraph (aa)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27232-111563<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6871852&amp;loc=d3e26610-111562<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>This item represents the cost of debt and equity securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of unrealized gain before deducting unrealized loss on investments in debt and equity securities classified as available-for-sale securities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27161-111563<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount of unrealized loss before deducting unrealized gain on investments in available-for-sale securities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Investments (Tables)<br></strong></div>
        </th>
        <th class="th" colspan="1">6 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Jun. 30, 2013</div>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AvailableForSaleSecuritiesTextBlock', window );">Investments Classified as Available-For-Sale</a></td>
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font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="6"><strong>June 30, 2013</strong></td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="6">December 31, 2012</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2"> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>&nbsp;</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>Amortized</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>Cost</strong></p> </td> <td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"><strong>Gross Unrealized Gains</strong></td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"><strong>Gross Unrealized Losses</strong></td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2">Fair Value</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2"> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>&nbsp;</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>Amortized</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>Cost</strong></p> </td> <td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"><strong>Gross Unrealized Gains</strong></td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"><strong>Gross Unrealized Losses</strong></td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2">Fair Value</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 10%; TEXT-INDENT: 0px"> Auction rate securities</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"> 1,175</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"> 635</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"> -</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"> 1,810</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"> 1,175</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"> 409</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"> -</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"> 1,584</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> Corporate debt securities</td> <td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> 36,213</td> <td style="PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> 2</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> -</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> 36,215</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> 31,340</td> <td style="PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> 21</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> -</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> 31,361</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> Total</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> 37,388</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> 637</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> -</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> 38,025</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> 32,515</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> 430</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> -</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> 32,945</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> </tr> </table> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>&nbsp;</strong></p> <!--EndFragment--></div> </div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27290-111563<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27357-111563<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 7<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27337-111563<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 320<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957658&amp;loc=d3e62557-112803<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27198-111563<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 320<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957658&amp;loc=d3e62586-112803<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27161-111563<br><br><br><br></p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EY2AE">
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        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Warrant Liability (Details) (USD $)<br>In Thousands, except Share data, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="1">1 Months Ended</th>
        <th class="th" colspan="2">3 Months Ended</th>
        <th class="th" colspan="2">6 Months Ended</th>
        <th class="th" colspan="1"></th>
      </tr>
      <tr>
        <th class="th">
          <div>Jul. 31, 2008</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2013</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2012</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2013</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2012</div>
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          <div>Dec. 31, 2012</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Units issued in direct offering</a></td>
        <td class="nump">6,686,650<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">4,600,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_CommonSharesPerUnit', window );">Common shares per unit</a></td>
        <td class="nump">1<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">$ 17,500<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 10,000<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">0.5<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">$ 2.68<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">3,343,325<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">3.62<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="nump">267<span></span></td>
        <td class="num">(101)<span></span></td>
        <td class="nump">267<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DerivativeLiabilitiesCurrent', window );">Warrant liability</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&nbsp;&nbsp;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">$ 267<span></span></td>
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    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nvax_CommonSharesPerUnit">
        <tr>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Shares included in each equity unit.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>nvax_CommonSharesPerUnit</nobr></td>
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                    <td><strong> Balance Type:</strong></td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
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              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nvax_WarrantLiabilityAbstract">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
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              </div>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Exercise price per share or per unit of warrants or rights outstanding.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(i)(4))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph i<br><br> -Subparagraph 4<br><br> -Article 4<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
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                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
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                </table>
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          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of securities into which each warrant or right may be converted. For example, but not limited to, each warrant may be converted into two shares.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
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                    <td>na</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of securities into which the class of warrant or right may be converted. For example, but not limited to, 500,000 warrants may be converted into 1,000,000 shares.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(i)(2))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph i<br><br> -Subparagraph 2<br><br> -Article 4<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
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                    <td>na</td>
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                    <td><strong> Period Type:</strong></td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DerivativeLiabilitiesCurrent">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled within one year or normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Current Liabilities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 10<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28364263&amp;loc=d3e13433-108611<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41228-113958<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 15<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28364263&amp;loc=d3e13495-108611<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 3<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=20225523&amp;loc=SL20225862-175312<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6945355&amp;loc=d3e41271-113958<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_DerivativeLiabilitiesCurrent</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:monetaryItemType</td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>instant</td>
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                </table>
              </div>
            </div>
          </td>
        </tr>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EquityIssuancePerShareAmount">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Amount per share or per unit assigned to the consideration received of equity securities issued for development stage entities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 915<br><br> -SubTopic 215<br><br> -Section 45<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6472370&amp;loc=d3e38297-110927<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_EquityIssuancePerShareAmount</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_GainLossOnDerivativeInstrumentsNetPretax">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 815<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4A<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=7476318&amp;loc=SL5618551-113959<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                  <tr>
                    <td><strong> Name:</strong></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
                    <td>credit</td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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          </td>
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      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromIssuanceOrSaleOfEquity">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The cash inflow from the issuance of common stock, preferred stock, treasury stock, stock options, and other types of equity.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Financing Activities<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 45<br><br> -Paragraph 14<br><br> -Subparagraph (a)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3255-108585<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
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        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Number of new stock issued during the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                  <tr>
                    <td><strong> Name:</strong></td>
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 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 718

 -SubTopic 10

 -Section 50

 -Paragraph 2

 -Subparagraph (a)(3)

 -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901



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 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 718

 -SubTopic 10

 -Section 50

 -Paragraph 2

 -Subparagraph (a)(3)

 -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901



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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EWOAE">
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          <div style="width: 200px;"><strong>Stock-Based Compensation (Stock-Based Compensation Expense) (Details) (USD $)<br>In Thousands, unless otherwise specified</strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
        <th class="th" colspan="2">6 Months Ended</th>
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      <tr>
        <th class="th">
          <div>Jun. 30, 2013</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2012</div>
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        <th class="th">
          <div>Jun. 30, 2013</div>
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        <th class="th">
          <div>Jun. 30, 2012</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">$ 638<span></span></td>
        <td class="nump">$ 589<span></span></td>
        <td class="nump">$ 1,121<span></span></td>
        <td class="nump">$ 1,176<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">296<span></span></td>
        <td class="nump">236<span></span></td>
        <td class="nump">513<span></span></td>
        <td class="nump">419<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump">$ 342<span></span></td>
        <td class="nump">$ 353<span></span></td>
        <td class="nump">$ 608<span></span></td>
        <td class="nump">$ 757<span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 14.F)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (h)(1)(i)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 14<br><br> -Section F<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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<DOCUMENT>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EZDAI">
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          <div style="width: 200px;"><strong>U.S. Government Agreement and Collaborations (Details) (USD $)<br>In Thousands, unless otherwise specified</strong></div>
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        <th class="th" colspan="2">6 Months Ended</th>
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        <th class="th" colspan="1">1 Months Ended</th>
        <th class="th" colspan="1">6 Months Ended</th>
        <th class="th" colspan="1">16 Months Ended</th>
        <th class="th" colspan="1">29 Months Ended</th>
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        <th class="th" colspan="1"></th>
        <th class="th" colspan="1">1 Months Ended</th>
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</div>
          <div>Cadila [Member]</div>
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</div>
          <div>HHS BARDA Contract [Member]</div>
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</div>
          <div>HHS BARDA Contract [Member]</div>
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</div>
          <div>HHS BARDA Contract [Member]</div>
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</div>
          <div>HHS BARDA Contract [Member]</div>
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          <div>HHS BARDA Option for Additional Period [Member]</div>
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</div>
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</div>
          <div>PATH Vaccine Solutions [Member]</div>
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</div>
          <div>PATH Vaccine Solutions [Member]</div>
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</div>
          <div>PATH Vaccine Solutions [Member]</div>
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</div>
          <div>PATH Vaccine Solutions [Member]</div>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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        <td class="text">&#xA0;<span></span></td>
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                <p>Total clinical trial costs incurred.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
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        <tr>
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                <p>Contract Term</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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        <tr>
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                <p>The percentage of the joint venture owned by others.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
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                    <td><strong> Name:</strong></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Research And Development Collaboration</p>
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                <p>No definition available.</p>
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                <p>Research And Development Collaboration Increase</p>
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                <p>No definition available.</p>
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                <p>Upfront License Payment</p>
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                <p>No definition available.</p>
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                <p>Revenue earned during the period arising from products sold or services provided under the terms of a contract, not elsewhere specified in the taxonomy. May include government contracts, construction contracts, and any other contract related to a particular project or product.</p>
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                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 225<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SX 210.5-03.1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p>
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                <p>The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting.</p>
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                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 323<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -Subparagraph (a)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33918-111571<br><br><br><br></p>
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                <p>The amount of receivables that are derived from government contracts.</p>
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                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 912<br><br> -SubTopic 310<br><br> -Section 45<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6471842&amp;loc=d3e55295-109406<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.29-31)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21506-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30, 31<br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 310<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 2<br><br> -Subparagraph (SAB TOPIC 4.E)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 4<br><br> -Subparagraph (SAB TOPIC 4.C)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187143-122770<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Article 4<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 4<br><br> -Section C<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 4<br><br> -Section E<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.4-08.(d),(e))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Glossary Preferred Stock<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6521494<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 12: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 13: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 14: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br>Reference 15: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 11<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21564-112644<br><br><br><br>Reference 16: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 5<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21488-112644<br><br><br><br>Reference 17: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21484-112644<br><br><br><br>Reference 18: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 08<br><br> -Paragraph d<br><br> -Article 4<br><br><br><br>Reference 19: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 30<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6405834&amp;loc=d3e23285-112656<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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</LabelSeparator><Level>2</Level><ElementName>us-gaap_FairValueMeasurementPolicyPolicyTextBlock</ElementName><ElementPrefix>us-gaap_</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>terseLabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &lt;strong&gt;&lt;em&gt;Fair Value Measurements&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; The Company applies Accounting Standards Codification ("ASC") Topic 820, &lt;em&gt;Fair Value Measurements and Disclosures&lt;/em&gt;, for financial and non-financial assets and liabilities.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; ASC 820 discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow) and the cost approach (cost to replace the service capacity of an asset or replacement cost). The statement utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 0.25in"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 0.25in"&gt;&amp;middot;&lt;/td&gt; &lt;td style="TEXT-ALIGN: justify"&gt;Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"&gt; &lt;tr style="VERTICAL-ALIGN: top"&gt; &lt;td style="WIDTH: 0.25in"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-FAMILY: Symbol; WIDTH: 0.25in"&gt;&amp;middot;&lt;/td&gt; &lt;td style="TEXT-ALIGN: justify"&gt;Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. 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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0E5G">
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          <div style="width: 200px;"><strong>Stockholders' Equity (Details)<br></strong></div>
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          <div>Jun. 30, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Common stock, shares authorized</a></td>
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                <p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p>
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      <tr>
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          <div style="width: 200px;"><strong>Acquisition of Isconova AB (Details)<br>In Thousands, except Share data, unless otherwise specified</strong></div>
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      <tr>
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          <div>Jul. 31, 2013

</div>
          <div>USD ($)</div>
        </th>
        <th class="th">
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</div>
          <div>SEK</div>
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        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="nump"> 140,285<span></span></td>
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                <p>Novavax Shares Issued</p>
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                <p>Number of shares of stock issued during the period pursuant to acquisitions.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 04<br><br> -Article 3<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.3-04)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.28,29)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 29, 30<br><br> -Article 5<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Costs incurred in connection with an unsolicited tender offer (one where the Entity being sought has not requested the offer). These would include costs relating to evaluation and dissemination of information regarding an unsolicited tender offer. A tender offer is a broad solicitation by an Entity or a third party to purchase a substantial percentage of another entity's shares or units for a limited period of time. The offer is at a fixed price, usually at a premium over the current market price, and is contingent on shareholders' tendering a fixed number of their shares or units.</p>
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
      <tr>
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          <div style="width: 200px;"><strong>Notes Payable<br></strong></div>
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          <div>Jun. 30, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureAbstract', window );"><strong>Notes Payable [Abstract]</strong></a></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DebtDisclosureTextBlock', window );">Notes Payable</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in; font-size-adjust: none; font-stretch: normal"> Note 9 - Notes Payable</p> <p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> In September 2012, the Company entered into a master security agreement with General Electric Capital Corporation ("GE"), whereby the Company can borrow up to $2.0 million to finance the purchases of equipment through June 2013 ("Equipment Loan"). Each Equipment Loan bears interest at the three-year U.S. Government treasury rate plus 11.68%, provided that the rate shall not be less than 12.1%, and is to be repaid over forty-two (42) months. GE will maintain a security interest in all equipment financed under the Equipment Loan. During the six months ended June 30, 2013, the Company financed $1.5 million in total at interest rates of 12.1% with monthly principal payments totaling $34,529 ("2013 Funding"). Interest accrues on the outstanding balance until paid in full. As of June 30, 2013, the Company has financed $2.0 million in total under the Equipment Loan.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> Aggregate future minimum principal payments on the Equipment Loan, including the 2013 Funding, at June 30, 2013 are as follows (in thousands):</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 90%; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0px"> <strong><u>Year</u></strong></td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; PADDING-LEFT: 0px" colspan="2">Amount</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0px"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px; WIDTH: 87%">2013 (remainder)</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px; WIDTH: 1%"> &nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px; WIDTH: 1%"> $</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right; PADDING-LEFT: 0px; WIDTH: 10%"> 286</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px; WIDTH: 1%"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"> 2014</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right; PADDING-LEFT: 0px"> 571</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"> 2015</td> <td style="FONT-SIZE: 10pt; PADDING-LEFT: 0px">&nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: right; PADDING-LEFT: 0px"> 571</td> <td style="FONT-SIZE: 10pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"> 2016</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; PADDING-LEFT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; PADDING-LEFT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; PADDING-LEFT: 0px"> 396</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; PADDING-LEFT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left; PADDING-LEFT: 0px"> $</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right; PADDING-LEFT: 0px"> 1,824</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left; PADDING-LEFT: 0px"> &nbsp;</td> </tr> </table> <p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <!--EndFragment--></div> </div><span></span></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 505<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21475-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 19, 20, 22<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.19,20,22)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p>
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<FILENAME>R22.xml
<DESCRIPTION>IDEA: Fair Value Measurements (Tables)
<TEXT>
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&lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in"&gt; The following table represents the Company&amp;#39;s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis (in thousands):&lt;/p&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="FONT-WEIGHT: bold" nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10" nowrap="nowrap"&gt;Fair Value at June 30, 2013&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10" nowrap="nowrap"&gt;Fair Value at December 31, 2012&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td nowrap="nowrap"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 1&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 2&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 3&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 1&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 2&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"&gt;Level 3&lt;/td&gt; &lt;td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-DECORATION: underline"&gt; Assets&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 8pt; WIDTH: 34%; TEXT-INDENT: -8pt"&gt; Corporate debt securities and auction rate securities&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; 38,025&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; 32,945&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;Total investments&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 38,025&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 32,945&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-WEIGHT: bold; TEXT-DECORATION: underline"&gt; Liabilities&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: right"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;Warrant liabilities&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; 267&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;/table&gt; &lt;p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0in"&gt; &amp;nbsp;&lt;/p&gt; &lt;!--EndFragment--&gt;&lt;/div&gt; &lt;/div&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 820

 -SubTopic 10

 -Section 50

 -Paragraph 1

 -URI http://asc.fasb.org/extlink&amp;oid=25499696&amp;loc=d3e19190-110258



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WIDTH: 25%"&gt;267&lt;/td&gt; &lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;Change in fair value of Warrant liability&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt; (267&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left"&gt;)&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;Balance at June 30, 2013&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt; $&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt; -&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 2.5pt; 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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>Investments<br></strong></div>
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        <th class="th" colspan="1">6 Months Ended</th>
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          <div>Jun. 30, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract', window );"><strong>Investments [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock', window );">Investments</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>Note 5 - Investments</strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>&nbsp;</strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> Investments classified as available-for-sale as of June 30, 2013 and December 31, 2012 were comprised of (in thousands):</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"> &nbsp;</p> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="6"><strong>June 30, 2013</strong></td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2">&nbsp;</td> <td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="6">December 31, 2012</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2">&nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2"> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>&nbsp;</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>Amortized</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>Cost</strong></p> </td> <td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"><strong>Gross Unrealized Gains</strong></td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"><strong>Gross Unrealized Losses</strong></td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2">Fair Value</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2"> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>&nbsp;</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>Amortized</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>Cost</strong></p> </td> <td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"><strong>Gross Unrealized Gains</strong></td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"><strong>Gross Unrealized Losses</strong></td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2">Fair Value</td> <td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 10%; TEXT-INDENT: 0px"> Auction rate securities</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"> 1,175</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"> 635</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"> -</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"> 1,810</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"> 1,175</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"> 409</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"> -</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"> 1,584</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> Corporate debt securities</td> <td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> 36,213</td> <td style="PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> 2</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> -</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> 36,215</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> 31,340</td> <td style="PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> 21</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> -</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> 31,361</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> Total</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> 37,388</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> 637</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> -</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> 38,025</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> 32,515</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> 430</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> -</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> $</td> <td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> 32,945</td> <td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"> &nbsp;</td> </tr> </table> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"> <strong>&nbsp;</strong></p> <!--EndFragment--></div> </div><span></span></td>
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                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract</nobr></td>
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                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
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                  <tr>
                    <td><strong> Data Type:</strong></td>
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                <p>The entire disclosure for  investments in certain debt and equity securities.</p>
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          <div style="width: 200px;"><strong>STATEMENTS OF CASH FLOWS (Parenthetical) (USD $)<br>In Thousands, unless otherwise specified</strong></div>
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                <p>The cash outflow for cost incurred directly with the issuance of an equity security.</p>
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<FILENAME>R23.xml
<DESCRIPTION>IDEA: Investments (Tables)
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<?xml version="1.0" encoding="us-ascii"?><InstanceReport xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"><Version>2.4.0.8</Version><ReportLongName>305 - Disclosure - Investments (Tables)</ReportLongName><DisplayLabelColumn>true</DisplayLabelColumn><ShowElementNames>false</ShowElementNames><RoundingOption /><HasEmbeddedReports>false</HasEmbeddedReports><Columns><Column FlagID="0"><Id>1</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelSeparator>

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</LabelSeparator><Level>1</Level><ElementName>us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract</ElementName><ElementPrefix>us-gaap_</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Investments [Abstract]</Label></Row><Row FlagID="0"><Id>2</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelSeparator>

</LabelSeparator><Level>2</Level><ElementName>us-gaap_AvailableForSaleSecuritiesTextBlock</ElementName><ElementPrefix>us-gaap_</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><PreferredLabelRole>terseLabel</PreferredLabelRole><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --&gt;&lt;div&gt; &lt;div&gt;&lt;!--StartFragment--&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; Investments classified as available-for-sale as of June 30, 2013 and December 31, 2012 were comprised of (in thousands):&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0"&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="6"&gt;&lt;strong&gt;June 30, 2013&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="6"&gt;December 31, 2012&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2"&gt;&amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom"&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;Amortized&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;Cost&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"&gt;&lt;strong&gt;Gross Unrealized Gains&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"&gt;&lt;strong&gt;Gross Unrealized Losses&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2"&gt;Fair Value&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal" colspan="2"&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;&amp;nbsp;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;Amortized&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; font-size-adjust: none; font-stretch: normal"&gt; &lt;strong&gt;Cost&lt;/strong&gt;&lt;/p&gt; &lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: bold 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"&gt;&lt;strong&gt;Gross Unrealized Gains&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; PADDING-TOP: 0px; TEXT-ALIGN: center; TEXT-INDENT: 0px" colspan="2"&gt;&lt;strong&gt;Gross Unrealized Losses&lt;/strong&gt;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; TEXT-ALIGN: center; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px" colspan="2"&gt;Fair Value&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 10%; TEXT-INDENT: 0px"&gt; Auction rate securities&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 1,175&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 635&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 1,810&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 1,175&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 409&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 9%; TEXT-INDENT: 0px"&gt; 1,584&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; WIDTH: 1%; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; Corporate debt securities&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; 36,213&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 2&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 36,215&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; 31,340&lt;/td&gt; &lt;td style="PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; FONT: 10pt Times New Roman, Times, Serif; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px; font-size-adjust: none; font-stretch: normal"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 21&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 1pt solid; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 31,361&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;/tr&gt; &lt;tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; Total&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 37,388&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 637&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 38,025&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 32,515&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; 430&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; -&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; PADDING-BOTTOM: 0px; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; &amp;nbsp;&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: left; PADDING-TOP: 0px; PADDING-LEFT: 0px; PADDING-RIGHT: 0px; TEXT-INDENT: 0px"&gt; $&lt;/td&gt; &lt;td style="FONT-SIZE: 10pt; BORDER-BOTTOM: black 2.5pt double; PADDING-BOTTOM: 0px; TEXT-ALIGN: right; PADDING-TOP: 0px; 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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EVOAG">
      <tr>
        <th class="tl" colspan="1" rowspan="2">
          <div style="width: 200px;"><strong>Stock-Based Compensation (Assumptions Used in Estimation of Fair Value of Stock Options Granted) (Details) (USD $)<br></strong></div>
        </th>
        <th class="th" colspan="2">3 Months Ended</th>
        <th class="th" colspan="2">6 Months Ended</th>
      </tr>
      <tr>
        <th class="th">
          <div>Jun. 30, 2013</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2012</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2013</div>
        </th>
        <th class="th">
          <div>Jun. 30, 2012</div>
        </th>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue', window );">Weighted-average fair value of stock options granted</a></td>
        <td class="nump">$ 1.01<span></span></td>
        <td class="nump">$ 0.71<span></span></td>
        <td class="nump">$ 1.00<span></span></td>
        <td class="nump">$ 0.71<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum', window );">Risk-free interest rate, minimum</a></td>
        <td class="nump">0.54%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">0.54%<span></span></td>
        <td class="nump">0.59%<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate', window );">Risk-free interest rate</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">0.59%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum', window );">Risk-free interest rate, maximum</a></td>
        <td class="nump">0.96%<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="nump">1.34%<span></span></td>
        <td class="nump">1.54%<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate', window );">Dividend yield</a></td>
        <td class="nump">0.00%<span></span></td>
        <td class="nump">0.00%<span></span></td>
        <td class="nump">0.00%<span></span></td>
        <td class="nump">0.00%<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum', window );">Volatility, minimum</a></td>
        <td class="nump">55.81%<span></span></td>
        <td class="nump">75.47%<span></span></td>
        <td class="nump">55.81%<span></span></td>
        <td class="nump">75.47%<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum', window );">Volatility, maximum</a></td>
        <td class="nump">66.02%<span></span></td>
        <td class="nump">75.52%<span></span></td>
        <td class="nump">73.72%<span></span></td>
        <td class="nump">80.48%<span></span></td>
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      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1', window );">Expected term (in years)</a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">4 years 2 months 27 days<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Minimum [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1', window );">Expected term (in years)</a></td>
        <td class="text">3 years 11 months 23 days<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">3 years 11 months 23 days<span></span></td>
        <td class="text">3 years 4 months 2 days<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate', window );">Expected forfeiture rate</a></td>
        <td class="nump">0.00%<span></span></td>
        <td class="nump">0.00%<span></span></td>
        <td class="nump">0.00%<span></span></td>
        <td class="nump">0.00%<span></span></td>
      </tr>
      <tr class="rh">
        <td class="pl" style="border-bottom: 0px;" valign="top">
          <div class="a">Maximum [Member]</div>
        </td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems', window );"><strong>Share-based Compensation Arrangement by Share-based Payment Award [Line Items]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">&#xA0;<span></span></td>
      </tr>
      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1', window );">Expected term (in years)</a></td>
        <td class="text">4 years 3 months<span></span></td>
        <td class="text">&#xA0;<span></span></td>
        <td class="text">7 years 18 days<span></span></td>
        <td class="text">7 years 1 month 2 days<span></span></td>
      </tr>
      <tr class="re">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_nvax_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate', window );">Expected forfeiture rate</a></td>
        <td class="nump">23.15%<span></span></td>
        <td class="nump">23.15%<span></span></td>
        <td class="nump">23.15%<span></span></td>
        <td class="nump">23.15%<span></span></td>
      </tr>
    </table>
    <div style="display: none;">
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_nvax_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Estimated rate of forfeitures.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>nvax_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedForfeitureRate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>nvax_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (f)(2)(iii)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Expected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SAB TOPIC 14.D.2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (f)(2)(i)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 14<br><br> -Section D<br><br> -Subsection 2<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:durationItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The estimated measure of the maximum percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The estimated measure of the minimum percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The risk-free interest rate assumption that is used in valuing an option on its own shares.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (f)(2)(iv)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The maximum risk-free interest rate assumption that is used in valuing an option on its own shares.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The minimum risk-free interest rate assumption that is used in valuing an option on its own shares.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:percentItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div>
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>xbrli:stringItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
      </table>
      <table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue">
        <tr>
          <td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td>
        </tr>
        <tr>
          <td>
            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>The weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 718<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -Subparagraph (d)(1)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue</nobr></td>
                  </tr>
                  <tr>
                    <td style="padding-right: 4px;"><nobr><strong> Namespace Prefix:</strong></nobr></td>
                    <td>us-gaap_</td>
                  </tr>
                  <tr>
                    <td><strong> Data Type:</strong></td>
                    <td>num:perShareItemType</td>
                  </tr>
                  <tr>
                    <td><strong> Balance Type:</strong></td>
                    <td>na</td>
                  </tr>
                  <tr>
                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
                  </tr>
                </table>
              </div>
            </div>
          </td>
        </tr>
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 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 912

 -SubTopic 310

 -Section 45

 -Paragraph 1

 -URI http://asc.fasb.org/extlink&amp;oid=6471842&amp;loc=d3e55295-109406



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 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 225

 -SubTopic 10

 -Section S99

 -Paragraph 2

 -Subparagraph (SX 210.5-03.1)

 -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688



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 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 323

 -SubTopic 10

 -Section 50

 -Paragraph 3

 -Subparagraph (a)(1)

 -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33918-111571



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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; FONT: bold 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0in"> Note 8 - U.S. Government Agreement, Joint Venture and Collaborations</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0in"> <strong><em>&nbsp;</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in; TEXT-INDENT: 0in"> <strong><em>HHS BARDA Contract for Recombinant Influenza Vaccines</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> In February 2011, the Company was awarded a contract from HHS BARDA valued at $97 million for the first three-year base-period, with an HHS BARDA option for an additional two-year period valued at $82 million, for a total contract value of up to $179 million. The HHS BARDA contract award provides significant funding for the Company&#39;s ongoing clinical development and product scale-up of both its seasonal and pandemic (H5N1) influenza vaccine candidates. This is a cost-plus-fixed-fee contract in which HHS BARDA will reimburse the Company for allowable direct contract costs incurred plus allowable indirect costs and a fixed-fee earned in the further development of its multivalent seasonal and monovalent pandemic (H5N1) influenza vaccines. Billings under the contract are based on approved provisional indirect billing rates, which permit recovery of fringe benefits, overhead and general and administrative expenses not exceeding certain limits. These indirect rates are subject to audit by HHS BARDA on an annual basis. An audit by the government of fiscal year 2011 has been initiated, but has not been completed as of the date of this filing. When the final determination of the allowable costs for any year has been made, revenue and billings may be adjusted accordingly; however, management believes that revenue for periods subject to audit has been recorded in amounts that are expected to be realized upon final audit and settlement. The Company recognized revenue of approximately $6.5 million in the six months ended June 30, 2013, and has recognized approximately $41 million in revenue since the inception of the contract.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> Under certain circumstances, HHS BARDA reimbursements may be delayed or even potentially withheld. In March 2012, the Company decided to conduct a Phase 2 clinical trial of its quadrivalent seasonal influenza vaccine candidate ("205 Trial") under its existing U.S. investigational new drug application ("IND") for its trivalent seasonal influenza vaccine candidate as opposed to waiting to conduct this clinical trial under a new IND for its quadrivalent vaccine candidate ("Quadrivalent IND"). Based on the Company&#39;s discussions with HHS BARDA in 2012, the outside clinical trial costs for the 205 Trial may only be submitted for reimbursement to HHS BARDA and recorded as revenue by the Company after it submits the clinical trial data in a future Quadrivalent IND. The submission of the Quadrivalent IND is expected shortly before the Company initiates the next Phase 2 dose-confirmatory clinical trial, which has been delayed due to the development activity associated with improving the seroconversion rate of one of the four strains. The outside clinical trial costs of the 205 Trial conducted last year total $2.9 million, which was incurred from the inception of the clinical trial through June 30, 2013. These costs have been recorded as an expense and are included in cost of government contracts revenue.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.25in"> <strong><em>&nbsp;</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.25in"> <strong><em>CPL Biologicals Private Limited ("CPLB") Joint Venture</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> In 2009, the Company formed a joint venture with Cadila Pharmaceuticals Limited ("Cadila") named CPL Biologicals Private Limited (the "CPLB") to develop and manufacture vaccines, biological therapeutics and diagnostics in India. CPLB is owned 20% by the Company and 80% by Cadila. The Company accounts for its investment in CPLB using the equity method. Since the carrying value of the Company&#39;s initial investment was nominal and there is no guarantee or commitment to provide future funding, the Company has not recorded any losses related to this investment.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.25in"> <strong><em>&nbsp;</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.25in"> <strong><em>LG Life Sciences, Ltd. ("LGLS") License Agreement</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> In February 2011, the Company entered into a license agreement with LGLS that allows LGLS to use the Company&#39;s technology to develop and commercially sell influenza vaccines exclusively in South Korea and non-exclusively in certain other specified countries. At its own cost, LGLS is responsible for funding both its clinical development of the influenza VLP vaccines and a manufacturing facility to produce such vaccine in South Korea. Under the license agreement, the Company is obligated to provide LGLS with information and materials related to the manufacture of the licensed products, provide on-going project management and regulatory support and conduct clinical trials of its influenza vaccines in order to obtain FDA approval in the U.S. The term of the license agreement is expected to terminate in 2027. Payments to the Company under the license agreement include an upfront payment of $2.5 million, reimbursements of certain development and product costs, payments related to the achievement of certain milestones and royalty payments in the high single digits from LGLS&#39;s future commercial sales of influenza VLP vaccines. The upfront payment has been deferred and will be recognized when the previously mentioned obligations in the agreement are satisfied, which may not occur until the end of the term of the agreement. Payments for milestones under the agreement will be recognized on a straight-line basis over the remaining term of the research and development period upon achievement of such milestone. Any royalties under the agreement will be recognized as earned.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.25in"> <strong><em>&nbsp;</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.25in"> <strong><em>PATH Vaccine Solutions ("PATH") Clinical Development Agreement</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> In July 2012, the Company entered into a clinical development agreement with PATH to develop its vaccine candidate to protect against RSV through maternal immunization in low-resource countries (the "RSV Collaboration Program"). The Company was awarded approximately $2.0 million by PATH for initial funding under the agreement to partially support its Phase 2 dose-ranging clinical trial in women of childbearing age, which was launched in October 2012. In August 2013, the funding under the agreement was increased by $0.3 million and the term extended to April 2014 to support the Company&#39;s reproductive toxicology studies, which are necessary before it conducts clinical trials in pregnant women. The Company retains global rights to commercialize the product and has made a commitment to make the vaccine affordable and available in low-resource countries. To the extent PATH has elected to continue to fund 50% of the Company&#39;s external clinical development costs for the RSV Collaboration Program, but the Company does not continue development, the Company would then grant PATH a fully-paid license to its RSV vaccine technology for use in pregnant women in such low-resource countries. The Company recognized revenue of approximately $0.6 million in the six months ended June 30, 2013, and has recognized approximately $1.9 million in revenue since the inception of the contract. Revenue under this arrangement is being 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 this agreement represent a reasonable measurement of proportional performance of the services being performed.</p> <!--EndFragment--></div> </div><span></span></td>
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Reference 3: http://www.xbrl.org/2003/role/presentationRef

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 -Name Staff Accounting Bulletin (SAB)

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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0E2F">
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          <div style="width: 200px;"><strong>Fair Value Measurements (Tables)<br></strong></div>
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        <th class="th" colspan="1">6 Months Ended</th>
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          <div>Jun. 30, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueDisclosuresAbstract', window );"><strong>Fair Value Measurements [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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      <tr class="ro">
        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock', window );">Fair Value Hierarchy</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in"> The following table represents the Company&#39;s fair value hierarchy for its financial assets and liabilities measured at fair value on a recurring basis (in thousands):</p> <p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 100%" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="FONT-WEIGHT: bold" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10" nowrap="nowrap">Fair Value at June 30, 2013</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="10" nowrap="nowrap">Fair Value at December 31, 2012</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom"> <td nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Level 1</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Level 2</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Level 3</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Level 1</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Level 2</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap">Level 3</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-WEIGHT: bold; TEXT-DECORATION: underline"> Assets</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; PADDING-LEFT: 8pt; WIDTH: 34%; TEXT-INDENT: -8pt"> Corporate debt securities and auction rate securities</td> <td style="PADDING-BOTTOM: 1pt; WIDTH: 1%">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; WIDTH: 1%">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"> 38,025</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; WIDTH: 1%">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; WIDTH: 1%">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; WIDTH: 1%">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"> 32,945</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"> &nbsp;</td> <td style="PADDING-BOTTOM: 1pt; WIDTH: 1%">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left; WIDTH: 1%"> $</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right; WIDTH: 8%"> -</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left; WIDTH: 1%"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">Total investments</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 38,025</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 32,945</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="FONT-WEIGHT: bold; TEXT-DECORATION: underline"> Liabilities</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td>&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> <td style="TEXT-ALIGN: right">&nbsp;</td> <td style="TEXT-ALIGN: left">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">Warrant liabilities</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> 267</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <p style="FONT: 10pt Times New Roman, Times, Serif; FONT-WEIGHT: normal; MARGIN: 0pt 0px; TEXT-ALIGN: justify; TEXT-INDENT: 0in"> &nbsp;</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock', window );">Reconciliation of Level 3 Assets and Liabilities</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The following table provides a reconciliation of the beginning and ending balance of Level 3 assets and liabilities measured on a recurring basis for the six months ended June 30, 2013 (in thousands):</p> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <table style="BORDER-COLLAPSE: collapse; FONT: 10pt Times New Roman, Times, Serif; WIDTH: 75%" cellspacing="0" cellpadding="0"> <tr style="VERTICAL-ALIGN: bottom"> <td style="PADDING-BOTTOM: 1pt" nowrap="nowrap">&nbsp;</td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-WEIGHT: bold; TEXT-ALIGN: center" colspan="2" nowrap="nowrap"> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Fair&nbsp;Value&nbsp;Measurements&nbsp;of</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Warrants&nbsp;Using Significant</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Unobservable&nbsp;Inputs</strong></p> <p style="TEXT-ALIGN: center; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>(Level&nbsp;3)</strong></p> </td> <td style="FONT-WEIGHT: bold; PADDING-BOTTOM: 1pt" nowrap="nowrap"> &nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="WIDTH: 72%">Balance at December 31, 2012</td> <td style="WIDTH: 1%">&nbsp;</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">$</td> <td style="TEXT-ALIGN: right; WIDTH: 25%">267</td> <td style="TEXT-ALIGN: left; WIDTH: 1%">&nbsp;</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: white"> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">Change in fair value of Warrant liability</td> <td style="PADDING-BOTTOM: 1pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"> &nbsp;</td> <td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"> (267</td> <td style="PADDING-BOTTOM: 1pt; TEXT-ALIGN: left">)</td> </tr> <tr style="VERTICAL-ALIGN: bottom; BACKGROUND-COLOR: rgb(204,255,204)"> <td style="PADDING-BOTTOM: 2.5pt">Balance at June 30, 2013</td> <td style="PADDING-BOTTOM: 2.5pt">&nbsp;</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"> $</td> <td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"> -</td> <td style="PADDING-BOTTOM: 2.5pt; TEXT-ALIGN: left">&nbsp;</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
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                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueDisclosuresAbstract</nobr></td>
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                    <td>us-gaap_</td>
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                    <td><strong> Data Type:</strong></td>
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                    <td><strong> Balance Type:</strong></td>
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                    <td><strong> Period Type:</strong></td>
                    <td>duration</td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
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The HHS BARDA contract award provides significant funding for the Company&amp;#39;s ongoing clinical development and product scale-up of both its seasonal and pandemic (H5N1) influenza vaccine candidates. This is a cost-plus-fixed-fee contract in which HHS BARDA will reimburse the Company for allowable direct contract costs incurred plus allowable indirect costs and a fixed-fee earned in the further development of its multivalent seasonal and monovalent pandemic (H5N1) influenza vaccines. Billings under the contract are based on approved provisional indirect billing rates, which permit recovery of fringe benefits, overhead and general and administrative expenses not exceeding certain limits. These indirect rates are subject to audit by HHS BARDA on an annual basis. An audit by the government of fiscal year 2011 has been initiated, but has not been completed as of the date of this filing. 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These costs have been recorded as an expense and are included in cost of government contracts revenue.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.25in"&gt; &lt;strong&gt;&lt;em&gt;&amp;nbsp;&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.25in"&gt; &lt;strong&gt;&lt;em&gt;CPL Biologicals Private Limited ("CPLB") Joint Venture&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; &amp;nbsp;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"&gt; In 2009, the Company formed a joint venture with Cadila Pharmaceuticals Limited ("Cadila") named CPL Biologicals Private Limited (the "CPLB") to develop and manufacture vaccines, biological therapeutics and diagnostics in India. CPLB is owned 20% by the Company and 80% by Cadila. The Company accounts for its investment in CPLB using the equity method. Since the carrying value of the Company&amp;#39;s initial investment was nominal and there is no guarantee or commitment to provide future funding, the Company has not recorded any losses related to this investment.&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.25in"&gt; &lt;strong&gt;&lt;em&gt;&amp;nbsp;&lt;/em&gt;&lt;/strong&gt;&lt;/p&gt; &lt;p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.25in"&gt; &lt;strong&gt;&lt;em&gt;LG Life Sciences, Ltd. 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Under the license agreement, the Company is obligated to provide LGLS with information and materials related to the manufacture of the licensed products, provide on-going project management and regulatory support and conduct clinical trials of its influenza vaccines in order to obtain FDA approval in the U.S. The term of the license agreement is expected to terminate in 2027. Payments to the Company under the license agreement include an upfront payment of $2.5 million, reimbursements of certain development and product costs, payments related to the achievement of certain milestones and royalty payments in the high single digits from LGLS&amp;#39;s future commercial sales of influenza VLP vaccines. The upfront payment has been deferred and will be recognized when the previously mentioned obligations in the agreement are satisfied, which may not occur until the end of the term of the agreement. Payments for milestones under the agreement will be recognized on a straight-line basis over the remaining term of the research and development period upon achievement of such milestone. 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The Company was awarded approximately $2.0 million by PATH for initial funding under the agreement to partially support its Phase 2 dose-ranging clinical trial in women of childbearing age, which was launched in October 2012. In August 2013, the funding under the agreement was increased by $0.3 million and the term extended to April 2014 to support the Company&amp;#39;s reproductive toxicology studies, which are necessary before it conducts clinical trials in pregnant women. The Company retains global rights to commercialize the product and has made a commitment to make the vaccine affordable and available in low-resource countries. To the extent PATH has elected to continue to fund 50% of the Company&amp;#39;s external clinical development costs for the RSV Collaboration Program, but the Company does not continue development, the Company would then grant PATH a fully-paid license to its RSV vaccine technology for use in pregnant women in such low-resource countries. 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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EME">
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          <div style="width: 200px;"><strong>Acquisition of Isconova AB<br></strong></div>
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        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>Note 13 - Acquisition of Isconova AB</strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> <font style="COLOR: windowtext">On July 31, 2013, the Company announced that, pursuant to its public tender offer to acquire all outstanding shares and warrants of Sweden-based Isconova AB ("Isconova") directly from such holders and a private offer for all outstanding stock options, it had acquired: 97.4% of the outstanding Isconova shares for approximately 15.1 million shares of Novavax Common Stock; 100% of the outstanding 2005-I warrants and 2005-II warrants for SEK 140,285 (or approximately $22,000 based on current exchange rate); and 100% of the stock options, for which it will issue 218,120 shares of Novavax Common Stock. The Company initiated the public tender offer on July 9, 2013 and expects to settle these transactions in August 2013.</font> In addition, the Company has extended the tender acceptance period until August 20, 2013 in order to attempt to acquire the remaining 2.6% of the outstanding Isconova shares.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> Isconova has focused its recent efforts on the development of saponin-based, immune-modulating adjuvants that work with different types of vaccine antigens to enhance the immunogenic effect of the antigen. A number of vaccines are under development by various vaccine companies, as well as by Isconova, using Isconova&#39;s third generation nanoparticle adjuvant, Matrix-M&trade;. The Company believes that Isconova&#39;s adjuvants will be powerful complements to its recombinant vaccine programs as three of its clinical-stage programs and many of its pre-clinical programs are currently testing adjuvants to see whether immune responses can be enhanced.</p> <!--EndFragment--></div> </div><span></span></td>
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                <p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p>
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                <p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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                <p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation 12B<br><br> -Number 240<br><br> -Section 12b<br><br> -Subsection 1<br><br><br><br></p>
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                <p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p>
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                <p>No definition available.</p>
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                <p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p>
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                <p>No definition available.</p>
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                <p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation 12B<br><br> -Number 240<br><br> -Section 12b<br><br> -Subsection 1<br><br><br><br></p>
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                <p>Trading symbol of an instrument as listed on an exchange.</p>
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 -Publisher FASB

 -Name Accounting Standards Codification

 -Topic 230

 -SubTopic 10

 -Section 45

 -Paragraph 12

 -URI http://asc.fasb.org/extlink&amp;oid=31042434&amp;loc=d3e3179-108585



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  <body><span style="display: none;">v2.4.0.8</span><table class="report" border="0" cellspacing="2" id="ID0EHFAC">
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          <div style="width: 200px;"><strong>Summary of Significant Accounting Policies (Policy)<br></strong></div>
        </th>
        <th class="th" colspan="1">6 Months Ended</th>
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          <div>Jun. 30, 2013</div>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Summary of Significant Accounting Policies [Abstract]</strong></a></td>
        <td class="text">&#xA0;<span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BasisOfAccountingPolicyPolicyTextBlock', window );">Basis of Presentation</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> <strong><em>Basis of Presentation</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and the instructions to Form 10-Q and Article 10 of Regulation S-X. The balance sheet as of June 30, 2013, statements of operations and statements of comprehensive loss for the three and six months ended June 30, 2013 and 2012 and the statements of cash flows for the six months ended June 30, 2013 and 2012 are unaudited, but include all adjustments (consisting of normal recurring adjustments) that the Company considers necessary for a fair presentation of the financial position, operating results, comprehensive loss and cash flows, respectively, for the periods presented. Although the Company believes that the disclosures in these financial statements are adequate to make the information presented not misleading, certain information and footnote information normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the United States Securities and Exchange Commission ("SEC").</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> Results for any interim period are not necessarily indicative of results for any future interim period or for the entire year. The accompanying unaudited financial statements should be read in conjunction with the financial statements and notes thereto included in the Company&#39;s Annual Report on Form 10-K for the year ended December 31, 2012.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UseOfEstimates', window );">Use of Estimates</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> <strong><em>Use of Estimates</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The preparation of the financial statements in conformity with U.S. GAAP 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 financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ materially from these estimates.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementPolicyPolicyTextBlock', window );">Fair Value Measurements</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> <strong><em>Fair Value Measurements</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The Company applies Accounting Standards Codification ("ASC") Topic 820, <em>Fair Value Measurements and Disclosures</em>, for financial and non-financial assets and liabilities.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> ASC 820 discusses valuation techniques, such as the market approach (comparable market prices), the income approach (present value of future income or cash flow) and the cost approach (cost to replace the service capacity of an asset or replacement cost). The statement utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels:</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> &nbsp;</p> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 0.25in">&middot;</td> <td style="TEXT-ALIGN: justify">Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities.</td> </tr> </table> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 0.25in">&middot;</td> <td style="TEXT-ALIGN: justify">Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active.</td> </tr> </table> <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in">&nbsp;</td> <td style="FONT-FAMILY: Symbol; WIDTH: 0.25in">&middot;</td> <td style="TEXT-ALIGN: justify">Level 3: Unobservable inputs that reflect the reporting entity&#39;s own assumptions.</td> </tr> </table> <!--EndFragment--></div> </div><span></span></td>
      </tr>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentPolicyTextBlock', window );">Investments</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> Investments</p> <p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> Investments consist of commercial paper, corporate notes and an investment in one auction rate security. Classification of marketable securities between current and non-current is dependent upon the original maturity date at purchase. Those securities purchased with original maturities greater than 90 days, but less than one year are classified as current and those with greater than one year are classified as non-current.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> Interest and dividend income is recorded when earned and included in interest income. Premiums and discounts, if any, on investments are amortized or accreted to maturity and included in interest income. The specific identification method is used in computing realized gains and losses on the sale of the Company&#39;s securities.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The Company has classified its investments as available-for-sale since the Company may need to liquidate these securities within the next year. The available-for-sale securities are carried at fair value and unrealized gains and losses on these securities, if determined to be temporary, are included in accumulated other comprehensive income (loss) in stockholders&#39; equity. Investments are evaluated periodically to determine whether a decline in value is "other-than-temporary." The term "other-than-temporary" is not intended to indicate a permanent decline in value. Rather, it means that the prospects for a near term recovery of value are not necessarily favorable, or that there is a lack of evidence to support fair values equal to, or greater than, the carrying value of the security. Management reviews criteria, such as the magnitude and duration of the decline, as well as the Company&#39;s ability to hold the securities until market recovery, to predict whether the loss in value is other-than-temporary. If a decline in value is determined to be other-than-temporary, the value of the security is reduced and the impairment is recorded in the statement of operations.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;&nbsp;</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy', window );">Restricted Cash</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> Restricted Cash</p> <p style="TEXT-ALIGN: justify; FONT: bold italic 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> The Company&#39;s restricted cash includes payments received under the PATH agreement (See Note 8) until such time as the Company has paid for the work performed for the related Phase 2 RSV clinical trial. In addition, the Company&#39;s non-current restricted cash with respect to its new manufacturing, laboratory and office space in Gaithersburg, Maryland functions as collateral for letters of credit, which serve as security deposits for the duration of the leases.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerSharePolicyTextBlock', window );">Net Loss per Share</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px 0pt 0.25in"> <strong><em>Net Loss per Share</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> Net loss per share is computed using the weighted average number of shares of common stock outstanding. All outstanding warrants, stock options and unvested restricted stock awards totaling 15,832,208 shares and 13,110,708 shares at June 30, 2013 and 2012, respectively, are excluded from the computation, as their effect is antidilutive.</p> <!--EndFragment--></div> </div><span></span></td>
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        <td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PriorPeriodReclassificationAdjustmentDescription', window );">Reclassifications</a></td>
        <td class="text"><!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><div> <div><!--StartFragment--> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.25in"> <strong><em>Reclassifications</em></strong></p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> &nbsp;</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px; TEXT-INDENT: 0.5in"> Within the June 30, 2012 statement of operations, certain overhead expenses relating to supply chain management of $0.4 million have been reclassified from general and administrative expenses to research and development expenses. Also, within the June 30, 2012 statement of cash flows, additional lease incentives received of $1.1 million recorded in the change in accounts payable and accrued expenses have been reclassified and are included in the change in lease incentives received. All of these reclassifications have been made to conform to current year presentation. In its Quarterly Report on Form 10-Q for the period ended March 31, 2013, the Company had recorded $0.2 million and reclassified $0.1 million of patent costs from general and administrative expenses to research and development expenses for the three months ended March 31, 2013 and 2012, respectively. The Company subsequently determined that patent costs should remain as a general and administrative expense and these costs have been shown as a general and administrative expense for all periods presented herein.</p> <p style="TEXT-ALIGN: justify; FONT: 10pt Times New Roman, Times, Serif; MARGIN: 0pt 0px"> <strong>&nbsp;</strong></p> <!--EndFragment--></div> </div><span></span></td>
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                <p>Disclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
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                <p>Entity's cash and cash equivalents accounting policy with respect to restricted balances.  Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 1<br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 305<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2122427<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 942<br><br> -SubTopic 210<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.9-03.1(a))<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 230<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4273-108586<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 03<br><br> -Paragraph 1<br><br> -Subparagraph a<br><br> -Article 9<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Financial Reporting Release (FRR)<br><br> -Number 203<br><br> -Paragraph 02-03<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy</nobr></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -URI http://asc.fasb.org/subtopic&amp;trid=2144384<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 260<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 2<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3630-109257<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for fair value measurements of financial and non-financial assets, liabilities and instruments classified in shareholders' equity. Disclosures include, but are not limited to, how an entity that manages a group of financial assets and liabilities on the basis of its net exposure measures the fair value of those assets and liabilities.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>No definition available.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
                <table border="0" cellpadding="0" cellspacing="0">
                  <tr>
                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_FairValueMeasurementPolicyPolicyTextBlock</nobr></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for investments in financial assets, including marketable securities (debt and equity securities with readily determinable fair values), investments accounted for under the equity method and cost method, securities borrowed and loaned, and repurchase and resale agreements. For marketable securities, the disclosure may include the entity's accounting treatment for transfers between investment categories and how the fair values for such securities are determined. Also, for all investments, an entity may describe its policy for assessing, recognizing and measuring impairment of the investment.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 235<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367646&amp;loc=d3e18780-107790<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 325<br><br> -SubTopic 20<br><br> -Section 50<br><br> -Paragraph 1<br><br> -Subparagraph (c)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6872867&amp;loc=d3e40691-111596<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 825<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 10<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=28364263&amp;loc=d3e13433-108611<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 323<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 3<br><br> -Subparagraph (a)(2)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6382943&amp;loc=d3e33918-111571<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 320<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 6<br><br> -Subparagraph (b)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=27724398&amp;loc=d3e27290-111563<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Staff Accounting Bulletin (SAB)<br><br> -Number Topic 5<br><br> -Section M<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 210<br><br> -SubTopic 10<br><br> -Section S99<br><br> -Paragraph 1<br><br> -Subparagraph (SX 210.5-02.2,12)<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher SEC<br><br> -Name Regulation S-X (SX)<br><br> -Number 210<br><br> -Section 02<br><br> -Paragraph 2, 12<br><br> -Article 5<br><br><br><br></p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;">
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                    <td><strong> Name:</strong></td>
                    <td><nobr>us-gaap_InvestmentPolicyTextBlock</nobr></td>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for reclassifications that affects the comparability of the financial statements.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 205<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 1<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6359566&amp;loc=d3e326-107755<br><br><br><br></p>
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            <div class="body" style="padding: 2px;"><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div>
                <p>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</p>
              </div><a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;">
                <p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 9<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6143-108592<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 8<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6132-108592<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br> -Publisher FASB<br><br> -Name Accounting Standards Codification<br><br> -Topic 275<br><br> -SubTopic 10<br><br> -Section 50<br><br> -Paragraph 4<br><br> -URI http://asc.fasb.org/extlink&amp;oid=6927468&amp;loc=d3e6061-108592<br><br><br><br></p>
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</LabelSeparator><Level>1</Level><ElementName>nvax_DocumentAndEntityInformationAbstract</ElementName><ElementPrefix>nvax_</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell><Cell FlagID="0" ContextID="" UnitID=""><Id>2</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>xbrli:stringItemType</ElementDataType><SimpleDataType>string</SimpleDataType><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Document and Entity Information [Abstract]</Label></Row><Row FlagID="0"><Id>2</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelSeparator>

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</LabelSeparator><Level>2</Level><ElementName>dei_EntityRegistrantName</ElementName><ElementPrefix>dei_</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>NOVAVAX INC</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell><Cell FlagID="0" ContextID="" UnitID=""><Id>2</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>xbrli:normalizedStringItemType</ElementDataType><SimpleDataType>normalizedstring</SimpleDataType><ElementDefenition>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

 -Publisher SEC

 -Name Regulation 12B

 -Number 240

 -Section 12b

 -Subsection 1



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</LabelSeparator><Level>2</Level><ElementName>dei_EntityCentralIndexKey</ElementName><ElementPrefix>dei_</ElementPrefix><IsBaseElement>false</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="from-2013-01-01-to-2013-06-30.521.0.0.0.0.0.0.0" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>0001000694</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell><Cell FlagID="0" ContextID="" UnitID=""><Id>2</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText /><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>dei:centralIndexKeyItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

 -Publisher SEC

 -Name Regulation 12B

 -Number 240

 -Section 12b

 -Subsection 1



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