Acquisition of Isconova AB (Tables)

9 Months Ended

Sep. 30, 2013

Acquisition Of Isconova AB [Abstract]

The total purchase price is summarized as follows (in thousands):

Value of shares of Novavax Common Stock issued	$	41,942
Cash paid to Isconova warrant holders		22
Total purchase price	$	41,964

Schedule of Assets Acquired and Liabilities Assumed

	(in thousands)
Cash and cash equivalents	$	3,056
Accounts receivable		603
Prepaid expenses and other assets		1,092
Property and equipment		165
Intangible assets		16,380
Goodwill		25,298
Accounts payable and other current liabilities		(2,784	)
Capital leases		(94	)
Notes payable		(193	)
Other non-current liabilities		(1,559	)
Total purchase price	$	41,964

Unaudited Pro Forma Financial Information of Operations

The unaudited pro forma financial information combines the historical results of operations of Novavax and Isconova for the periods presented below and reflects the application of the following adjustments:

Elimination of the historical intangible assets and amortization expense unrelated to the Acquisition;

Amortization expense related to the fair value of intangible assets acquired; and

The exclusion of acquisition-related costs incurred for the Acquisition.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
	(in thousands)
Revenue	$	4,869		$	6,272		$	14,195		$	19,530
Net loss	$	(15,687	)	$	(8,490	)	$	(40,565	)	$	(25,033	)
Basic and diluted net loss per share	$	(0.09	)	$	(0.06	)	$	(0.24	)	$	(0.18	)