<SEC-DOCUMENT>0001144204-15-049124.txt : 20150813
<SEC-HEADER>0001144204-15-049124.hdr.sgml : 20150813
<ACCEPTANCE-DATETIME>20150813172620
ACCESSION NUMBER:		0001144204-15-049124
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20150813
DATE AS OF CHANGE:		20150813
EFFECTIVENESS DATE:		20150813

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:		S-8
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-206354
		FILM NUMBER:		151051712

	BUSINESS ADDRESS:	
		STREET 1:		20 FIRSTFIELD ROAD
		CITY:			GAITHERSBURG
		STATE:			MD
		ZIP:			20878
		BUSINESS PHONE:		240-268-2000

	MAIL ADDRESS:	
		STREET 1:		20 FIRSTFIELD ROAD
		CITY:			GAITHERSBURG
		STATE:			MD
		ZIP:			20878
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>v417927_s8.htm
<DESCRIPTION>S-8
<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: center"><B>As filed with the Securities and Exchange
Commission on August 13, 2015</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: right">Registration No. 333-</P>

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

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">UNITED STATES</P>

<P STYLE="font: bold 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">SECURITIES AND EXCHANGE COMMISSION</P>

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

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

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

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



<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM S-8</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">THE SECURITIES ACT OF 1933</P>

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

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

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" 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-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>



<P STYLE="font: bold 24pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">NOVAVAX, INC.</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">
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Delaware</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><i>(State of incorporation)</i></P></td>
    <TD STYLE="width: 34%; padding: 0; text-align: center">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>20 Firstfield Road</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>Gaithersburg, Maryland 20878</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><i>(Address of principal executive offices)</i></P></td>
    <TD STYLE="width: 33%; padding: 0; text-align: center">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>22-2816046</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><i>(I.R.S. Employer Identification No.)</i></P></td></tr>
</table>



<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></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: center">&nbsp;</P>

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

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<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-top: 0pt; margin-bottom: 0pt; text-align: center">Novavax, Inc. 2015 Stock Incentive Plan</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><I>(Full Title of the Plan)</I></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>JOHN A. HERRMANN III</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Senior Vice President, General Counsel &amp;</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">20 Firstfield Road</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Gaithersburg, Maryland 20878</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(<I>Name, Address and Telephone Number,
Including Area Code, of Agent For Service</I>)</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>PAUL M. KINSELLA</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Ropes &amp; Gray LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">800 Boylston Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Boston, Massachusetts 02199-3600</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(617) 951-7000</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">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&nbsp;12b-2 of the Exchange Act.
(Check one):</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <TD STYLE="width: 23%">&nbsp;</td>
    <TD STYLE="width: 3%">&nbsp;</td>
    <TD STYLE="width: 23%">&nbsp;</td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 23%">&nbsp;</td>
    <TD STYLE="width: 3%">&nbsp;</td>
    <TD STYLE="width: 23%">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top; text-align: center"><font style="font-size: 10pt">Large accelerated filer <font style="font-family: Wingdings">&thorn;</font></font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top; text-align: center"><font style="font-size: 10pt">Accelerated filer <font style="font-family: Wingdings">o</font></font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top; text-align: center"><font style="font-size: 10pt">Non-accelerated filer <font style="font-family: Wingdings">o</font> </font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top; text-align: center"><font style="font-size: 10pt">Smaller reporting company <font style="font-family: Wingdings">o</font></font></td></tr>
<tr>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top; text-align: center"><font style="font-size: 10pt">(Do not check if a smaller reporting company)</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top; text-align: center">&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">&nbsp;</P>

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

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<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"><B>CALCULATION OF REGISTRATION FEE</B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD>
    <TD STYLE="width: 1%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP COLSPAN="15" STYLE="border-bottom: black 2.25pt double">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: black 1.5pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: black 1.5pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Proposed</FONT></TD>
    <TD STYLE="border-right: black 1.5pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Proposed</FONT></TD>
    <TD STYLE="border-right: black 1.5pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: black 1.5pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-right: black 1.5pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt">maximum</FONT></TD>
    <TD STYLE="border-right: black 1.5pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt">maximum</FONT></TD>
    <TD STYLE="border-right: black 1.5pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Title of</FONT></TD>
    <TD STYLE="border-right: black 1.5pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Amount to be</FONT></TD>
    <TD STYLE="border-right: black 1.5pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt">offering price</FONT></TD>
    <TD STYLE="border-right: black 1.5pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt">aggregate</FONT></TD>
    <TD STYLE="border-right: black 1.5pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt">Amount of</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt">securities to be registered</FONT></TD>
    <TD STYLE="border-right: black 1.5pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt">registered</FONT></TD>
    <TD STYLE="border-right: black 1.5pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt">per share</FONT></TD>
    <TD STYLE="border-right: black 1.5pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt">offering price</FONT></TD>
    <TD STYLE="border-right: black 1.5pt solid">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt">registration fee</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; border-top: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1.5pt solid"><FONT STYLE="font-size: 10pt">Common Stock, $0.01 par value</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1.5pt solid; border-right: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">25,000,000(1)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1.5pt solid; border-right: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$10.88(2)</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1.5pt solid; border-right: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$272,000,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1.5pt solid; border-right: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1.5pt solid">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: black 1.5pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$31,607</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: black 1.5pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP COLSPAN="15" STYLE="border-top: black 2.25pt double">&nbsp;</TD></TR>
</TABLE>


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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <TD NOWRAP STYLE="width: 5%"><font style="font-size: 10pt">(1)</font></td>
    <TD STYLE="width: 5%">&nbsp;</td>
    <TD STYLE="width: 90%"><font style="font-size: 10pt">Plus, pursuant to Rule&nbsp;416(a)&nbsp;under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), such additional number of shares of Novavax, Inc. common stock as may be issued upon a stock split, stock dividend, or similar transaction.</font></td></tr>
<tr style="vertical-align: top">
    <TD NOWRAP><font style="font-size: 10pt">(2)</font></td>
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">Pursuant to Rules&nbsp;457(c)&nbsp;and 457(h)(1)&nbsp;under the Securities Act, the proposed maximum offering price per share and the maximum aggregate offering price for the shares have been calculated solely for the purpose of computing the registration fee on the basis of the average of the high and low prices of Novavax, Inc. common stock as reported by The NASDAQ Global Select Market August 7, 2015, which were $11.23 and $10.52, respectively.</font></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"></P>

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<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"><B>PART&nbsp;I</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As permitted by Rule&nbsp;428 under the
Securities Act, this Registration Statement omits the information specified in Part&nbsp;I of Form&nbsp;S-8. The documents containing
the information specified in Part&nbsp;I will be delivered to the participants of the Plans as required by Rule&nbsp;428(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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART II</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: center"><B>INFORMATION REQUIRED IN THE REGISTRATION
STATEMENT</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"><B>Item 3.&#9;Incorporation of Documents by Reference.</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">The following documents filed by the Registrant with the Securities
and Exchange Commission are hereby incorporated by reference in this Registration Statement on Form S-8:</P>

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

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 6%">&nbsp;</td>
    <td nowrap style="width: 3%">1.</td>
    <td>The Registrant&rsquo;s Annual Report on Form 10-K for the fiscal year ended December&nbsp;31, 2014, filed on February 27, 2015;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td nowrap>2.</td>
    <td>The Registrant&rsquo;s Quarterly Reports on Form 10-Q for the fiscal quarters ended March&nbsp;31, 2015, filed on May 7, 2015, and June 30, 2015, filed on August 10<font style="font-size: 10pt">, 2015</font>;</td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td nowrap>3.</td>
    <td>The Registrant&rsquo;s Current Reports on Form 8-K filed on March 27, 2015, May 8, 2015 and June 19, 2015; and</td></tr>
<tr>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td nowrap>4.</td>
    <td>The description of the Registrant&rsquo;s Common Stock ($0.01 par value) contained in the Registrant&rsquo;s Registration Statement No.&nbsp;0-26770 on Form 10 filed on September&nbsp;14, 1995 pursuant to Section 12(b) of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), including any amendment or report filed for the purpose of updating such description.</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">All documents filed after the date of this registration statement
by the Registrant pursuant to Section&nbsp;13(a), 13(c), 14, and 15(d)&nbsp;of the Exchange Act, prior to the filing of a post-effective
amendment that indicates that all shares of Novavax, Inc.&rsquo;s common stock offered hereunder have been sold or which deregisters
all shares of Novavax, Inc. common stock remaining unsold, shall be deemed to be incorporated by reference herein and to be a part
hereof from the date of the filing of such documents.</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">Any statement contained in a document incorporated or deemed
to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this registration statement
to the extent that a statement contained herein, or in any other subsequently filed document that also is incorporated or deemed
to be incorporated by reference herein, modifies or supersedes such statement. Any statement so modified or superseded shall not
be deemed, except as so modified or superseded, to constitute a part of this registration statement.</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 4.&nbsp; Description of Securities.</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">Not applicable.</P>

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


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    <!-- Field: /Page -->

<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>Item 5.&nbsp; Interests of Named Experts and Counsel.</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">Not applicable.</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-top: 0pt; margin-bottom: 0pt"><B>Item&nbsp;6.</B> <B>Indemnification of Directors and Officers.</B></P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">Section&nbsp;145
of the General Corporation Law of the State of Delaware provides as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&ldquo;A corporation shall have the
power to indemnify any 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 the person is or was a director, officer, employee or agent of the corporation, or
is or was serving at the request of the corporation as a director, officer, employee or agent of another corporation, partnership,
joint venture, trust or other enterprise, against expenses (including attorneys&rsquo; fees), judgments, fines and amounts paid
in settlement actually and reasonably incurred by him in connection with such action, suit or proceeding if the person acted in
good faith and in a manner the person reasonably believed to be in or not opposed to the best interest 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 the person 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">A corporation shall have the power
to indemnify any person 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 the person is or was
a director, officer, employee or agent of the corporation, or is or was serving at the request of the corporation as a director,
officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise against expenses (including
attorneys&rsquo; fees) actually and reasonably incurred by him in connection with the defense or settlement of such action or suit
if the person acted in good faith and in a manner the person reasonably believed to be in or not opposed to the best interests
of the corporation and except that no indemnification shall be made with respect to 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 or the
court in which such action or suit was brought shall determine upon application that, despite the adjudication of liability but
in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which
the Court of Chancery or such other court shall deem proper.&rdquo;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">The Registrant&rsquo;s
second amended and restated certificate of incorporation provides that it will indemnify each person who was or is a party or 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 us) by reason of the fact that he or she is or was, or has agreed to
become, our director or officer, or is or was serving, or has agreed to serve, at the Registrant&rsquo;s request as a director,
officer or trustee of, or in a similar capacity with, another corporation, partnership, joint venture, trust or other enterprise
(all such persons being referred to 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), judgments, fines and amounts paid in settlement actually
and reasonably incurred in connection with such action, suit or proceeding and any appeal therefrom, if such Indemnitee acted in
good faith and in a manner he or she reasonably believed to be in, or not opposed to, our best interests, and, with respect to
any criminal action or proceeding, he or she had no reasonable cause to believe his or her conduct was unlawful.</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">The Registrant&rsquo;s
second amended and restated certificate of incorporation also provides that it will indemnify any Indemnitee who was or is a party
to an action or suit by or in the right of the Registrant to procure a judgment in the Registrant&rsquo;s favor by reason of the
fact that the Indemnitee is or was, or has agreed to become, a director or officer, or is or was serving, or has agreed to serve,
at the Registrant&rsquo;s request as a director, officer or trustee or, or in a similar capacity with, another corporation, partnership,
joint venture, trust or other enterprise, 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 in connection with
such action, suit or proceeding, and any appeal therefrom, if the Indemnitee acted in good faith and in a manner he or she reasonably
believed to be in, or not opposed to, the Registrant&rsquo;s best interests, except that no indemnification shall be made with
respect to any claim, issue or matter as to which such person shall have been adjudged to be liable to the Registrant, unless and
only to the extent that the Court of Chancery of Delaware determines that, despite such adjudication but in view of all of the
circumstances, he or she is entitled to indemnification of such expenses. Notwithstanding the foregoing, to the extent that any
Indemnitee has been successful, on the merits or otherwise, he or she will be indemnified by the Registrant against all expenses
(including attorneys&rsquo; fees) actually and reasonably incurred by him or her or on his or her behalf in connection therewith.
If the Registrant does not assume the defense, expenses must be advanced to an Indemnitee under certain circumstances.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">The Registrant
has entered into indemnification agreements with its directors and certain of its officers, in addition to the indemnification
provided for in its second amended and restated certificate of incorporation and amended and restated by-laws, and intends to enter
into indemnification agreements with any new directors and executive officers in the future. The Registrant has purchased and intends
to maintain insurance on behalf of any person who is or was a director or officer against any loss arising from any claim asserted
against him or her and incurred by him or her in any such capacity, subject to certain exclusions.</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 8.&#9;Exhibits.</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-indent: 0.5in">See Exhibit Index immediately following
the signature page.</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-top: 0pt; margin-bottom: 0pt"><B>Item&nbsp;9.</B> <B>Undertakings.</B></P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">(a)&nbsp;The undersigned registrant
hereby undertakes:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">(1) <FONT STYLE="background-color: white">To
file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.4pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.4pt; background-color: white">(i) To include any prospectus
required by Section&nbsp;10(a)(3) of the Securities Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.4pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.4pt; background-color: white">(ii)&nbsp;<FONT STYLE="background-color: white">To
reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if
the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high
end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to&nbsp;Rule
424(b)&nbsp;if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering
price set forth in the &quot;Calculation of Registration Fee&quot; table in the effective registration statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.4pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.4pt; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.4pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.4pt; background-color: white">(iii)&nbsp;<FONT STYLE="background-color: white">To
include any material information with respect to the plan of distribution not previously disclosed in the registration statement
or any material change to such information in the registration statement;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.4pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.4pt; background-color: white"><FONT STYLE="background-color: white">Provided
however, that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.4pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.4pt; background-color: white"><FONT STYLE="background-color: white">A.
Paragraphs (a)(1)(i) and (a)(1)(ii) of this section do not apply if the registration statement is on&nbsp;Form S-8, and the information
required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the
Commission by the registrant pursuant to&nbsp;section 13<FONT STYLE="color: red">&nbsp;</FONT>or&nbsp;section 15(d)of the Securities
Exchange Act of 1934 that are incorporated by reference in the registration statement; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.4pt; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 37.4pt; background-color: white"><FONT STYLE="background-color: white">B.
Paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii) of this section do not apply if the registration statement is on&nbsp;Form S-3&nbsp;or&nbsp;Form
F-3&nbsp;and the information required to be included in a post-effective amendment by those paragraphs is contained in reports
filed with or furnished to the Commission by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange
Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant
to<FONT STYLE="color: red">&nbsp;</FONT>Rule 424(b)&nbsp;that is part of the registration statement.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">(2)&nbsp;<FONT STYLE="background-color: white">That,
for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time
shall be deemed to be the initial bona fide offering thereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">(3)&nbsp;<FONT STYLE="background-color: white">To
remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
termination of the offering.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">(b)&nbsp;<FONT STYLE="background-color: white">The
undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each
filing of the registrant's annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and,
where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Securities Exchange
Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">(c)&nbsp;<FONT STYLE="background-color: white">Insofar
as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling
persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion
of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore,
unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant
of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered,
the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court
of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</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">Pursuant to the requirements of the Securities Act of 1933,
the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8
and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the
city of Gaithersburg, state of Maryland on August 13, 2015.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <td colspan="2"><font style="font-size: 10pt">NOVAVAX, INC.</font></td>
    <TD>&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <td colspan="2">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr>
    <TD STYLE="width: 50%">&nbsp;</td>
    <TD STYLE="vertical-align: top; width: 5%"><font style="font-size: 10pt">By:&nbsp;&nbsp;</font></td>
    <TD STYLE="border-bottom: black 1pt solid; width: 35%"><font style="font-size: 10pt">/s/ Stanley C. Erck </font></td>
    <TD STYLE="width: 10%">&nbsp;</td></tr>
<tr>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">Stanley C. Erck</font></td>
    <TD>&nbsp;</td></tr>
<tr>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font-size: 10pt">President and Chief Executive Officer&nbsp; and Director</font></td>
    <TD>&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"><B>POWER OF ATTORNEY</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">Each person whose signature appears below constitutes and appoints
Stanley C. Erck, Barclay A. Phillips and John A. Herrmann III, and each of them singly, his true and lawful attorneys-in-fact and
agents, with full power of substitution and resubstitution in each of them singly, for him and in his name, place and stead, and
in any and all capacities, to sign any and all amendments (including post-effective amendments) to this Registration Statement
on Form S-8 of Novavax, Inc., and to file the same, with all exhibits thereto and other documents in connection therewith, with
the Securities and Exchange Commission, granting to the attorneys-in-fact and agents, and each of them, full power and authority
to do and perform each and every act and thing requisite or necessary to be done in or about the premises, as full to all intents
and purposes as he might or could do in person, hereby ratifying and confirming all that the attorneys-in-fact and agents or any
of each of them or their substitutes may lawfully do or cause to be done by virtue hereof.</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">Pursuant to the requirements of the Securities Act of 1933,
this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.</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"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Signature</B> </FONT></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 42%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Title</B> </FONT></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 26%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Date</B> </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Stanley C. Erck</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">President and Chief Executive Officer </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">August 13, 2015 </FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Stanley C. Erck</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">and Director (Principal Executive&nbsp;&nbsp;Officer)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Barclay A. Phillips</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Senior Vice President, Chief Financial Officer and Treasurer&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">August 13, 2015</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Barclay A. Phillips</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Principal Financial and Accounting Officer)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Gail K. Boudreaux</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director&nbsp; </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">August 13, 2015</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Gail K. Boudreaux</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Richard H. Douglas</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">August 13, 2015</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Richard H. Douglas</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: top; text-align: center">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Michael A. McManus, Jr., J.D.</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Director</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">August 13, 2015</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Michael A. McManus, Jr., J.D.</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
<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; text-align: center"><B>INDEX OF EXHIBITS</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 10%"><font style="font-size: 10pt">Exhibit</font></td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD NOWRAP STYLE="text-align: center; width: 88%">&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD NOWRAP STYLE="border-bottom: black 1pt solid"><font style="font-size: 10pt">Number</font></td>
    <TD>&nbsp;</td>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid"><font style="font-size: 10pt">Description</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">4.1 </font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">Second Amended and Restated Certificate of Incorporation of the Registrant (Incorporated by reference to Exhibit 3.1 to the Registrant&rsquo;s Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, filed on August 10, 2015)</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">4.2</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">Amended and Restated By-Laws of the Registrant (Incorporated by reference to Exhibit 3.2 to the Registrant&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2012, filed on March 12, 2013)</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">5*</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">Opinion of Ropes &amp; Gray LLP</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">10</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">Novavax, Inc. 2015 Stock Incentive Plan (Incorporated by reference to Appendix B of the Company&rsquo;s Definitive Proxy Statement filed April 30, 2015 in connection with the Annual Meeting held on June 18, 2015)</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">23.1*</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">Consent of Ropes &amp; Gray LLP (included in Exhibit&nbsp;5)</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">23.2*</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">Consent of Ernst &amp; Young LLP, Independent Registered Public Accounting Firm</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">23.3*</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">Consent of Grant Thornton LLP</font></td></tr>
<tr>
    <TD STYLE="vertical-align: top">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top">&nbsp;</td></tr>
<tr>
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">24*</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: top"><font style="font-size: 10pt">Power of Attorney to file future amendments. Set forth on the signature page of this Registration Statement</font></td></tr>
</table>
<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">*&#9;Filed herewith</P>



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

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<DOCUMENT>
<TYPE>EX-5
<SEQUENCE>2
<FILENAME>v417927_ex5.htm
<DESCRIPTION>EXHIBIT 5
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 5</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: center"></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 NOWRAP STYLE="width: 1%; padding: 1pt 0; font-size: 10pt; text-indent: 0"><img src="image_001.jpg" alt="    " style="height: 79px; width: 62px"></td>
    <TD STYLE="width: 2%; padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 97%; padding: 1pt 0; text-indent: 0; text-align: left; vertical-align: middle"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">ROPES
&amp; GRAY LLP</FONT></P>
                                                                                                       <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">PRUDENTIAL TOWER</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">800 BOYLSTON STREET</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">BOSTON, MA 02199-3600</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">WWW.ROPESGRAY.COM</FONT></P></td></tr>
</table>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></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-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;August<B> </B>13, 2015</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">Novavax, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">20 Firstfield Road</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Gaithersburg, Maryland 20878</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">Ladies and Gentlemen:</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-indent: 0.5in">This opinion letter is furnished to you
in connection with the registration statement on Form S-8 (the &ldquo;<U>Registration Statement</U>&rdquo;), filed by Novavax,
Inc., a Delaware corporation (the &ldquo;<U>Company</U>&rdquo;), on or about the date hereof, with the Securities and Exchange
Commission under the Securities Act of 1933, as amended (the &ldquo;<U>Securities Act</U>&rdquo;), for the registration of 25,000,000
shares of Common Stock, $0.01 par value, of the Company (the &ldquo;<U>Shares</U>&rdquo;). The Shares are issuable under the Company's
2015 Stock Incentive Plan (the &ldquo;<U>Plan</U>&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">We are familiar with the actions taken by
the Company in connection with the adoption of the Plan. We have examined such certificates, documents and records and have made
such investigation of fact and such examination of law as we have deemed appropriate in order to enable us to render the opinions
set forth herein. In conducting such investigation, we have relied, without independent verification, upon certificates of officers
of the Company, public officials and other appropriate persons.</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 opinions expressed below are limited
to the Delaware General Corporation 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">Based upon and subject to the foregoing,
we are of the opinion that the Shares have been duly authorized and, when the Shares have been issued and sold in accordance with
the terms of the Plan, the Shares will be validly issued, fully paid and nonassessable.</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">We hereby consent to the filing of this
opinion letter as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are in the
category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations thereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; 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: 50%; padding-right: 0; text-align: justify; padding-top: 0; padding-left: 0; text-indent: 0">&nbsp;</td>
    <TD STYLE="width: 50%; padding-right: 0; text-align: justify; padding-top: 0; padding-left: 0; text-indent: 0">Very truly yours,</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 0; text-align: justify; padding-top: 0; padding-left: 0; text-indent: 0">&nbsp;</td>
    <TD STYLE="padding-right: 0; text-align: justify; padding-top: 0; padding-left: 0; text-indent: 0">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 0; text-align: justify; padding-top: 0; padding-left: 0; text-indent: 0">&nbsp;</td>
    <TD STYLE="padding-right: 0; text-align: justify; padding-top: 0; padding-left: 0; text-indent: 0">/s/ Ropes &amp; Gray LLP</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 0; text-align: justify; padding-top: 0; padding-left: 0; text-indent: 0">&nbsp;</td>
    <TD STYLE="padding-right: 0; text-align: justify; padding-top: 0; padding-left: 0; text-indent: 0">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-right: 0; text-align: justify; padding-top: 0; padding-left: 0; text-indent: 0">&nbsp;</td>
    <TD STYLE="padding-right: 0; text-align: justify; padding-top: 0; padding-left: 0; text-indent: 0">Ropes &amp; Gray LLP</td></tr>
</table>
<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>



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<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>3
<FILENAME>v417927_ex23-2.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 23.2</B></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: center"><B>Consent of Independent Registered Public
Accounting Firm</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consent to the incorporation by reference
in the Registration Statement (Form S-8) pertaining to the Novavax, Inc. 2015 Stock Incentive Plan of our reports dated February
26, 2015, with respect to the consolidated financial statements of Novavax, Inc., and the effectiveness of internal control over
financial reporting of Novavax, Inc., included in its Annual Report (Form 10-K) for the year ended December 31, 2014, filed with
the Securities and Exchange Commission.</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">/s/ Ernst &amp; Young LLP</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">Baltimore, MD</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">August 13, 2015</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></B></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"><B>&nbsp;</B></P>



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<TYPE>EX-23.3
<SEQUENCE>4
<FILENAME>v417927_ex23-3.htm
<DESCRIPTION>EXHIBIT 23.3
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 23.3</B></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: center"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM</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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have issued our report dated March 12,
2014 with respect to the consolidated financial statements, as of December 31, 2013 and for each of the two years in the period
ended December 31, 2013, included in the Annual Report of Novavax, Inc. on Form 10-K for the year ended December&nbsp;31, 2014,
which is incorporated by reference in this Registration Statement. We hereby consent to the incorporation by reference of the aforementioned
report in this Registration Statement.</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">/s/ Grant Thornton LLP</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">McLean, Virginia</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">August 13, 2015</P>

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



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