<SEC-DOCUMENT>0001144204-17-062202.txt : 20180123
<SEC-HEADER>0001144204-17-062202.hdr.sgml : 20180123
<ACCEPTANCE-DATETIME>20171204160624
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001144204-17-062202
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20171204

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:		CORRESP

	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>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&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="padding-right: 5.4pt; padding-left: 5.4pt; width: 11%">&nbsp;<IMG SRC="image_001.jpg" ALT=""></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 89%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">ROPES &amp; GRAY LLP</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PRUDENTIAL TOWER</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">800 BOYLSTON STREET</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">BOSTON, MA&nbsp;&nbsp;02199-3600</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">WWW.ROPESGRAY.COM</P></TD></TR>
</TABLE>


<P STYLE="margin: 0">&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: 55%; padding: 0; font-size: 10pt; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 45%; padding: 0; font-size: 10pt; text-indent: 0">December 4, 2017</TD></TR>
</TABLE>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>VIA FEDEX AND EDGAR</U></B></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding: 0; text-indent: 0">Re:</TD>
    <TD STYLE="width: 95%; padding: 0; text-indent: 0">Novavax, Inc.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Form 10-K for the period ended December 31, 2016</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Filed February 27, 2017</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">File No. 000-26770</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">Angela Connell</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">100 F Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Washington, D.C. 20549</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">Dear Ms. Connell and Mr. Luxenburg:</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">On behalf of Novavax, Inc. (the &ldquo;Company&rdquo;),
we are hereby providing the following response to the comment letter, dated November 30, 2017, from the staff of the Division of
Corporation Finance (the &ldquo;Staff&rdquo;) of the Securities and Exchange Commission related to the Company&rsquo;s Annual Report
on Form 10-K for the fiscal year ended December 31, 2016 (the &ldquo;2016 Form 10-K&rdquo;). To assist your review, we have presented
the text of the Staff&rsquo;s comment in italics below. The response below is based upon information provided to us by the 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"><U>Form 10-K for the period ended December 31, 2016</U></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 0.5in; text-indent: -0.5in"><U>Management&rsquo;s Discussion
and Analysis of Financial Condition and Results of Operations</U></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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"></TD><TD STYLE="width: 0.5in">1.</TD><TD><I>Please explain to us your basis for excluding the $325 million in convertible notes from your contractual obligations table.
Refer to Item 303(a)(5) of Regulation S-K.</I></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 0pt 0.5in; text-indent: 0in"><B>Response to Comment: </B></P>

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

<P STYLE="margin: 0pt 0 0pt 0.5in">The Company acknowledges the Staff&rsquo;s comment and will include this contractual obligation in the
contractual obligations table <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">consistent with the disclosure
contained on page 43 of the &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations&rdquo;
section of the Company&rsquo;s 2016 Form 10-K relating to its $325 million 3.75% convertible senior unsecured notes due 2023 in
its future filings, beginning with its Annual Report on Form 10-K for the fiscal year ending December 31, 2017, while these notes
remain outstanding. </FONT></P>



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

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Novavax, Inc.</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-indent: 0.5in">Please do not hesitate to call me at 617-951-7921
with any questions or further comments.</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 3.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 50%; padding: 0; text-indent: 0">Sincerely,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">/s/ Paul M. Kinsella</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Paul M. Kinsella</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in">&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: 4%; font-size: 10pt; padding: 0; text-indent: 0">cc:</TD>
    <TD STYLE="padding: 0; text-indent: 0">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Stanley C. Erck, Novavax, Inc.</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">John A. Herrmann III, Novavax, Inc.</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



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

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

<!-- Field: Page; Sequence: 2; Options: NewSection Last; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%; text-align: center">-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence -->-</TD><TD STYLE="width: 33%; text-align: right">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>image_001.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 image_001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1" !/ #X# 2(  A$! Q$!_\0
M'P   04! 0$! 0$           $" P0%!@<("0H+_\0 M1   @$# P($ P4%
M! 0   %] 0(#  01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T? D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0 'P$  P$! 0$!
M 0$! 0        $" P0%!@<("0H+_\0 M1$  @$"! 0#! <%! 0  0)W  $"
M Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O 58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,!  (1 Q$ /P#2T/PYI]Q\
M'I]? GBU>"*>6.[BN'5PR,VWH<=@.E=MK>LW\7P<DU>.X9+YM,CD\Y>"&95R
MP]#R:Y_PY_R;]??]>MW_ .A-6CK_ /R0,_\ 8)@_DE;RU>O<YH:1T[&5K7A^
MP\*^'_#^NZ.);?4S=VJS7 F8M.)/OB3)^;-;_P 2K>.\N?"MI."T$^KQQRH&
M(W*5.1Q57QY_R3_0/^ORQ_I5[X@?\A7P=_V&XOY&DFVT_4;22:7D4K?2X/"_
MQ3TNPTAIH+&_L9GGMC,SQEDQA@&)P:A@T'3?$/Q4\41:K;&YC@AM6C4R,H4E
M.>A'H*T]7_Y+!X;_ .O"Z_I2>'_^2L^+O^N%I_Z :+NU_+]1V5[=+_H5OB)$
M-/T#0-#L7DMK&ZU&"SE6*0AC#SE=V<XJG=V%OX.\<V]OH"-96UUILCRP*Y*,
MZR( V"3S@D9K6^*5K*?#=IJL,9D.DWT-ZZ#J44X;]#G\*W6TK1_$,UGKF#,6
MMMD,BN0#&Y#=!]!24K17S&XWD_D>2Z1H5[<?!Y]336;HVL*RROICX%O*J.25
M)7#8.,]>M=SXQN8[WX+7=U#"((IM.B=(EZ(#M(4?3I6)X;_Y-^OO^O6[_P#0
MFK1U_P#Y(&?^P3!_)*J3O+YD15H_(/'G_)/] _Z_+'^E6/B9%-/<^%(K>X-O
M,^L1JDP4,8VVG#8/!QZ&J_CS_DG^@?\ 7Y8_TJ]\0/\ D*^#O^PW%_(TET^9
M4MG\C0TGP?)::^-<U76+G5=0CA,,+21K&D2'KA5'4^M<S%I-UJWQ4\4I;:S>
MZ88X;4LUKLR^4[[@>G]:].KAO#__ "5GQ=_UPM/_ $ U,9/5^14HI67F=A':
M#^SEL[EVNE\KRI'E S*,8);''/>N+\"RR>'M6U3P7=N2ED?M.GR.?O6SGIG_
M &6./QK>\2Z]<:+=Z'%!#%(-0U!+20OGY58$Y&._%<-\37>W\9Z7+"Q21M/E
M4LIP2/,0XH@F]'U"<DM5T-G1?"^K6?PANO#\\"+J4EO<(L8D!!+EMOS=.XK4
MN?#5SJ/PQ7PY*ZP7;:=';DD[E615'<=LBN8N-1U3[%=^)%U6\6>'6OLBVPD_
M<>2) FTI].<]:])U"X:STRZN4 +0PO( >A(!-)R8U!6MY6//KK2_%GB.PT;0
M]0T:#3[>SN(9;F\^UK()!%T"*.>??I71>+]%OM6O_#<MG$KI8ZI'<SDN%VQ@
M')&>OTKDW75XOAZGC >(-1.I;%NC&9/W!!;[GEXQC!KH/%]W=S)X9C@O+FS%
M_>QQS-;2;&VLI)&:.9W#E5M3M*X)K+Q)H_CW7-7L=#34+6_C@1#]L2(C8N#P
M<]S^E6+4W^A>/K+2!JMY?6-]:22E+QP[1LAZJV <'TJEX_UF_P!/\0:.EG>3
M00Q8FN$C; D4RHF&]1R:478<E<TO$NF:UKFC:/?P6,4.JZ?>QWOV&2<%6VY!
M3S ,9P<YK&O_  WKWC/Q#%?:GIZ:-;6MJT,:M.LSR,S*2?EX XKH=7N[JR\>
MZ !<R+97D4\#P[OD+@;E./7J*JZPU_J7CJ+2[2_N+>&'3C/(L4A4%FD &<>P
M--3:V$X)[G/O$9M1N/!ZJ?M$FN_;6XX%MQ+N_/Y?K7H>N?\ ( U+_KUE_P#0
M37 :=?SR^+#XA=A]EUE;FRM^,&,1<QG/^UM<UT6CS2W'PLAFFD>65],8L[L6
M9CL/))ZU)2(/#VD0Z]\*=/TNXDDCBN+-%9H\;ASGC/TI/&$0@O?!\*DE8]4B
M4$]>%(JMH_B%O#?PRT6^;3KB[MTM096A91Y0[$Y(ZY[4_P <O-=GPK)9NL,\
MNHQM$\B[@A*$@D9YH#H6-4_Y*OH/_7C<?TK!\<JUYJOB,J,_8M&B(]CYV_\
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M6=H&F:MJLFOWEAK8LH+G4IU:+[(DN[;A<Y)ST&,>U:FJ12?\+.T2X"$Q)8W
M9LC@\58^'\$D'A"W:5=LD\LTS#.>6D8T!U,_P7+N^%YB/WK>*XA/_ 6:M'X>
M?\B!HW_7O_4UG>%K>6UT'Q-8LF/+OKKR^1RK#(K4\ Q/#X$T>.1=KK!@C.<<
&GTH&C__9

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
