<SEC-DOCUMENT>0001104659-23-005128.txt : 20230120
<SEC-HEADER>0001104659-23-005128.hdr.sgml : 20230120
<ACCEPTANCE-DATETIME>20230119205557
ACCESSION NUMBER:		0001104659-23-005128
CONFORMED SUBMISSION TYPE:	S-8
PUBLIC DOCUMENT COUNT:		5
FILED AS OF DATE:		20230120
DATE AS OF CHANGE:		20230119
EFFECTIVENESS DATE:		20230120

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:	333-269309
		FILM NUMBER:		23538737

	BUSINESS ADDRESS:	
		STREET 1:		21 FIRSTFIELD ROAD
		CITY:			GAITHERSBURG
		STATE:			MD
		ZIP:			20878
		BUSINESS PHONE:		240-268-2000

	MAIL ADDRESS:	
		STREET 1:		21 FIRSTFIELD ROAD
		CITY:			GAITHERSBURG
		STATE:			MD
		ZIP:			20878
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-8
<SEQUENCE>1
<FILENAME>tm233845d1_s8.htm
<DESCRIPTION>FORM S-8
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0; margin-bottom: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<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>As filed with the Securities and Exchange Commission
on January&nbsp;19, 2023</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: right">Registration No.&nbsp;333-</P>

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

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

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

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

<P STYLE="border-bottom: Black 1pt solid; 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;&nbsp;</P>

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

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

<P STYLE="border-bottom: Black 1pt solid; 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">&nbsp;</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="border-bottom: Black 1pt solid; width: 33%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Delaware</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(State of incorporation)</I></P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 34%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>21 Firstfield Road</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Gaithersburg, Maryland 20878</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Address of principal executive offices)</I></P></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 33%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>22-2816046</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(I.R.S. Employer Identification No.)</I></P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&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"><B>Novavax,&nbsp;Inc. 2023 Inducement Plan</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>(Full Title of the Plan)</I></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>JOHN A. HERRMANN III</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Executive Vice President, Chief Legal Officer&nbsp;&amp;
Corporate Secretary&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">21 Firstfield Road&nbsp;</P>

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(617) 951-7000</P>

<P STYLE="border-bottom: Black 1pt solid; 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Indicate by check mark whether the registrant
is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.
See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer,&rdquo; &ldquo;smaller reporting company&rdquo;
and &ldquo;emerging growth company&rdquo; in Rule&nbsp;12b-2 of the Exchange Act.</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%; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-left: 0.25in; width: 50%; font-size: 10pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large
accelerated filer <FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated filer <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated
filer <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller reporting company <FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging growth company
    <FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;</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">If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section&nbsp;7(a)(2)(B)&nbsp;of the Securities Act. <FONT STYLE="font-family: Wingdings">&#168;</FONT></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>

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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"></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: center"><B>EXPLANATORY NOTE</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">This Registration Statement
on Form&nbsp;S-8 (this &ldquo;Registration Statement&rdquo;) registers 1,000,000 shares of common stock, par value $0.01 per share (the
 &ldquo;Common Stock&rdquo;), of Novavax,&nbsp;Inc. (the &ldquo;Registrant&rdquo;) that may be issued pursuant to awards granted in accordance
with Nasdaq Listing Rule&nbsp;5635(c)(4), as an inducement material to an individual&rsquo;s entering into employment with the Registrant,
pursuant to the Novavax,&nbsp;Inc. 2023 Inducement Plan (the &ldquo;2023 Inducement Plan&rdquo;).</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&nbsp;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: center"><B>INFORMATION REQUIRED IN THE SECTION&nbsp;10(A)&nbsp;PROSPECTUS</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">As permitted by Rule&nbsp;428
under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), 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 Registrant&rsquo;s 2023 Inducement Plan as required by Rule&nbsp;428(b)&nbsp;of the Securities Act.</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&nbsp;II</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: center"><B>INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</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 3. 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; text-align: justify">The following documents filed by the Registrant
with the Securities and Exchange Commission are hereby incorporated by reference in this Registration Statement on Form&nbsp;S-8:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</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: 3%; font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 3%; font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
    <TD STYLE="width: 94%; font-size: 10pt; text-align: justify"><A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1000694/000100069422000004/nvax-20211231.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Registrant&rsquo;s Annual Report on Form&nbsp;10-K for the fiscal year ended December&nbsp;31, 2021, filed on March&nbsp;1, 2022;</FONT></A></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Registrant&rsquo;s Quarterly Reports on Form&nbsp;10-Q for the fiscal quarter ended March&nbsp;31, 2022, filed on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1000694/000100069422000009/nvax-20220331.htm" STYLE="-sec-extract: exhibit">May&nbsp;10, 2022</A>, for the fiscal quarter ended June&nbsp;30, 2022, filed on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1000694/000100069422000016/nvax-20220630.htm" STYLE="-sec-extract: exhibit">August&nbsp;9, 2022</A>, and for the fiscal quarter ended September&nbsp;30, 2022, filed on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1000694/000100069422000024/nvax-20220930.htm" STYLE="-sec-extract: exhibit">November&nbsp;9, 2022</A>;</FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Registrant&rsquo;s Current Reports on Form&nbsp;8-K and Form&nbsp;8-K/A, as applicable, filed on <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1000694/000110465922012838/tm225742d1_8k.htm" STYLE="-sec-extract: exhibit">February&nbsp;7, 2022</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1000694/000110465922031110/tm228577d1_8k.htm" STYLE="-sec-extract: exhibit">March&nbsp;7, 2022</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1000694/000110465922072966/tm2218948d1_8k.htm">June&nbsp;21, 2022</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1000694/000110465922078846/tm2220819d1_8k.htm" STYLE="-sec-extract: exhibit">July&nbsp;11, 2022</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1000694/000110465922106808/tm2227766d1_8k.htm" STYLE="-sec-extract: exhibit">October&nbsp;6, 2022</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1000694/000110465922113551/tm2229431d1_8k.htm" STYLE="-sec-extract: exhibit">November&nbsp;1, 2022</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1000694/000110465922120848/tm2231040d1_8k.htm" STYLE="-sec-extract: exhibit">November&nbsp;21, 2022</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1000694/000110465922125913/tm2232352d1_8ka.htm" STYLE="-sec-extract: exhibit">December&nbsp;9, 2022</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1000694/000110465922127036/tm2232690d1_8k.htm" STYLE="-sec-extract: exhibit">December&nbsp;14, 2022</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1000694/000110465922128263/tm2232888d1_8k.htm" STYLE="-sec-extract: exhibit">December&nbsp;19, 2022</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1000694/000110465922128864/tm2232888d2_8k.htm" STYLE="-sec-extract: exhibit">December&nbsp;21, 2022</A>, <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1000694/000110465922130566/tm2233439d1_8k.htm" STYLE="-sec-extract: exhibit">December&nbsp;28, 2022</A>, and <A HREF="https://www.sec.gov/ix?doc=/Archives/edgar/data/1000694/000110465923002102/tm232657d1_8k.htm" STYLE="-sec-extract: exhibit">January&nbsp;9, 2023</A> (except for portions of such reports which were furnished not filed); </FONT></TD></TR>
  <TR>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT></TD>
    <TD><A HREF="https://www.sec.gov/Archives/edgar/data/1000694/000110465922054754/tm223592d3_def14a.htm" STYLE="-sec-extract: exhibit">The Registrant&rsquo;s Definitive Proxy Statement on Schedule 14A, filed on May&nbsp;2, 2022; and</A>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: justify">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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&nbsp;10 filed on September&nbsp;14, 1995 pursuant to Section&nbsp;12(b)&nbsp;of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), as updated by any amendment or report filed for the purpose of updating such description, including the description of our common stock contained in <A HREF="https://www.sec.gov/Archives/edgar/data/1000694/000100069422000004/nvax-20211231xex44.htm" STYLE="-sec-extract: exhibit">Exhibit&nbsp;4.4 to our Annual Report on Form&nbsp;10-K for the fiscal year ended December&nbsp;31, 2021</A>.</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">All documents filed after the date of this Registration
Statement by the Registrant pursuant to Sections 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,&nbsp;Inc.&rsquo;s common stock offered hereunder have been sold or which deregisters
all shares of Novavax,&nbsp;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; text-align: justify">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"></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"><B>Item 4. Description of Securities.</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">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: 0pt 0"><B>Item 5. Interests of Named Experts and Counsel.</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">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: 0pt 0"><B>Item 6. Indemnification of Directors and Officers.</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">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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;A corporation shall
have 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 the person 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 interests of the corporation, and, with respect to any criminal action or proceeding,
had no reasonable cause to believe the person&rsquo;s 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 the person&rsquo;s 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; text-align: justify; text-indent: 0.5in">A corporation shall have 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 the person 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 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 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Registrant&rsquo;s second
amended and restated certificate of incorporation (as amended) provides that it will 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 Registrant) by reason of the fact that he or she is or was, or has agreed
to become, its 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, the best interests of the Registrant, 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">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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">The Registrant&rsquo;s second
amended and restated certificate of incorporation (as amended) also provides that it will 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 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, its 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, 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 in respect of 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">&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; font-size: 10pt">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 (as amended), 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 </FONT>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"></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"><B>Item 8. 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-align: center"><B>INDEX OF EXHIBITS</B></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%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; width: 8%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit</FONT></TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: center; width: 88%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Description</FONT></TD></TR>
  <TR>
    <TD STYLE="border-top: black 1pt solid; font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="border-top: black 1pt solid; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1000694/000114420415047742/v416489_ex3-1.htm" STYLE="-sec-extract: exhibit">4.1</A> </FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1000694/000114420415047742/v416489_ex3-1.htm" STYLE="-sec-extract: exhibit">Second Amended and Restated Certificate of Incorporation of the Registrant (Incorporated by reference to Exhibit&nbsp;3.1 to the Registrant&rsquo;s Quarterly Report on Form&nbsp;10-Q for the quarter ended June&nbsp;30, 2015, filed on August&nbsp;10, 2015)</A></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1000694/000114420419024901/tv521192_ex3-1.htm" STYLE="-sec-extract: exhibit">4.2</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1000694/000114420419024901/tv521192_ex3-1.htm" STYLE="-sec-extract: exhibit">Certificate of Amendment to the Second Amended and Restated Certificate of Incorporation of the Registrant&nbsp;(Incorporated by reference to Exhibit&nbsp;3.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed on May&nbsp;9, 2019)</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1000694/000110465920075307/tm2023024d1_ex3-1.htm" STYLE="-sec-extract: exhibit">4.3</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1000694/000110465920075307/tm2023024d1_ex3-1.htm" STYLE="-sec-extract: exhibit">Certificate of Designation of Series&nbsp;A Convertible Preferred Stock of the Registrant (Incorporated by reference to Exhibit&nbsp;3.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed on June&nbsp;19, 2020)</A></FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1000694/000110465921085180/tm2120584d1_ex3-1.htm" STYLE="-sec-extract: exhibit">4.4</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1000694/000110465921085180/tm2120584d1_ex3-1.htm" STYLE="-sec-extract: exhibit">Amended and Restated By-Laws of the Registrant (Incorporated by reference to Exhibit&nbsp;3.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed on June&nbsp;24, 2021)</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><A HREF="tm233845d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.1*</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><A HREF="tm233845d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Opinion of Ropes&nbsp;&amp; Gray LLP</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1000694/000110465923002102/tm232657d1_ex10-1.htm" STYLE="-sec-extract: exhibit">10.1</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1000694/000110465923002102/tm232657d1_ex10-1.htm" STYLE="-sec-extract: exhibit">Novavax,&nbsp;Inc. 2023 Inducement Plan (Incorporated by reference to Exhibit&nbsp;10.1 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed on January&nbsp;9, 2023)</A> </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1000694/000110465923002102/tm232657d1_ex10-2.htm" STYLE="-sec-extract: exhibit">10.2</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1000694/000110465923002102/tm232657d1_ex10-2.htm" STYLE="-sec-extract: exhibit">Form&nbsp;of Non-Statutory Stock Option Agreement under the Novavax,&nbsp;Inc. 2023 Inducement Plan (Incorporated by reference to Exhibit&nbsp;10.2 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed on January&nbsp;9, 2023)</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1000694/000110465923002102/tm232657d1_ex10-3.htm" STYLE="-sec-extract: exhibit">10.3</A></FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="https://www.sec.gov/Archives/edgar/data/1000694/000110465923002102/tm232657d1_ex10-3.htm" STYLE="-sec-extract: exhibit">Form&nbsp;of Restricted Stock Unit Award Agreement under the Novavax,&nbsp;Inc. 2023 Inducement Plan (Incorporated by reference to Exhibit&nbsp;10.3 to the Registrant&rsquo;s Current Report on Form&nbsp;8-K filed on January&nbsp;9, 2023)</A></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><A HREF="tm233845d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.1*</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><A HREF="tm233845d1_ex5-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Ropes&nbsp;&amp; Gray LLP (included in Exhibit&nbsp;5.1)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><A HREF="tm233845d1_ex23-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23.2*</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><A HREF="tm233845d1_ex23-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consent of Ernst&nbsp;&amp; Young LLP,&nbsp;Independent Registered Public Accounting Firm</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt"><A HREF="#Kalai_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24.1*</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><A HREF="#Kalai_001"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Power of Attorney to file future amendments (included on the signature page&nbsp;of this Registration Statement) </FONT></A></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 10pt"><A HREF="tm233845d1_ex107-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">107.1*</FONT></A></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="vertical-align: top; font-size: 10pt"><A HREF="tm233845d1_ex107-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filing Fee Table</FONT></A></TD></TR>
</TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 12%"></TD><TD STYLE="width: 6%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: justify; width: 82%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
herewith</FONT></TD>
</TR></TABLE>

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


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></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"><B>Item 9. Undertakings.</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">(a)&nbsp;The undersigned Registrant hereby undertakes:</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">(1)&nbsp;To file, during any period in which offers
or sales are being made, a post-effective amendment to 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; text-align: justify">(i)&nbsp;To include any prospectus required by
Section&nbsp;10(a)(3)&nbsp;of the Securities Act;</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">(ii)&nbsp;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 Securities and Exchange Commission pursuant to Rule&nbsp;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 &ldquo;Calculation of Registration
Fee&rdquo; table in the effective 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; text-align: justify">(iii)&nbsp;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;</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">Provided however, that paragraphs (a)(1)(i)&nbsp;and
(a)(1)(ii)&nbsp;of this section do not apply if the information required to be included in a post-effective amendment by those paragraphs
is contained in reports filed with or furnished to the Securities and Exchange Commission by the Registrant pursuant to section 13 or
section 15(d)&nbsp;of the Exchange Act that are incorporated by reference in the 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; text-align: justify">(2)&nbsp;That, for the purpose of determining
any liability under the Securities Act, 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 <I>bona fide </I>offering
thereof.</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">(3)&nbsp;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.</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">(b)&nbsp;The undersigned Registrant hereby undertakes
that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to section
13(a)&nbsp;or section 15(d)&nbsp;of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant
to section 15(d)&nbsp;of the Exchange Act) 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 <I>bona fide</I> offering thereof.</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">(c)&nbsp;Insofar as indemnification for liabilities
arising under the Securities Act 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 Securities 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 Securities Act and will be governed by the final adjudication of such issue.</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>

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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: center"><B><A NAME="Kalai_001"></A>SIGNATURES</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">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&nbsp;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 January&nbsp;19, 2023.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
  <TR>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-left: 3pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOVAVAX,&nbsp;INC.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-size: 10pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 3pt; padding-left: 3pt; font-size: 10pt">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="width: 58%; padding-right: 3pt; padding-left: 3pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 5%; padding-right: 3pt; padding-left: 3pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By: </FONT></TD>
    <TD STYLE="width: 37%; border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Stanley C. Erck</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stanley C. Erck</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President and Chief Executive Officer </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"><B>POWER OF ATTORNEY</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">Each person whose signature
appears below constitutes and appoints James P. Kelly and John A. Herrmann III, and each of them singly, his or her true and lawful attorneys-in-fact
and agents, with full power of substitution and resubstitution in each of them singly, for him or her and in his or her 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&nbsp;S-8 of Novavax,&nbsp;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 or she 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; text-align: justify; text-indent: 0.5in">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>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%; border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Signature</B></FONT>&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 50%; border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title</B></FONT>&nbsp;</TD>
    <TD STYLE="width: 2%; padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 16%; border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Date</B></FONT>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Stanley C. Erck</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President and Chief Executive Officer </FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January&nbsp;19, 2023</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stanley C. Erck</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">and Director (Principal Executive Officer)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ James P. Kelly</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Executive Vice President, Chief Financial Officer </FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January&nbsp;19, 2023</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">James P. Kelly</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">and Treasurer (Principal Financial and Accounting Officer)</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ James F. Young</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chairman of the Board of Directors</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January&nbsp;19, 2023</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">James F. Young</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Gregg H. Alton</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January&nbsp;19, 2023</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Gregg H. Alton</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Richard H. Douglas</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January&nbsp;19, 2023</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Richard H. Douglas</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Rachel K. King</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January&nbsp;19, 2023</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Rachel K. King</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Margaret G. McGlynn</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January&nbsp;19, 2023</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Margaret G. McGlynn</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ David M. Mott</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January&nbsp;19, 2023</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">David M. Mott</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Richard J. Rodgers</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">January&nbsp;19, 2023</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Richard J. Rodgers</FONT></TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt">&nbsp;</TD>
    <TD STYLE="padding-right: 3pt; padding-left: 3pt; text-align: center">&nbsp;</TD></TR>
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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>tm233845d1_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;5.1</B></P>

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    <TD STYLE="width: 11%; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><IMG SRC="tm233845d1_ex5-1img001.jpg" ALT="RopesGray_431" STYLE="height: 79px; width: 62px"></FONT></TD>
    <TD STYLE="width: 89%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">ROPES&nbsp;&amp; GRAY LLP</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">PRUDENTIAL TOWER</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">800 BOYLSTON STREET</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">BOSTON, MA 02199-3600</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">WWW.ROPESGRAY.COM</P></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">January&nbsp;19, 2023</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,&nbsp;Inc.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">21 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">&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&nbsp;S-8 (the &ldquo;<U>Registration Statement</U>&rdquo;), filed by Novavax,&nbsp;Inc., a Delaware
corporation (the &ldquo;<U>Company</U>&rdquo;), on 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 1,000,000 shares of Common Stock, $0.01 par value,
of the Company (the &ldquo;<U>Shares</U>&rdquo;) under the Company&rsquo;s 2023 Inducement Plan (the &ldquo;<U>Plan</U>&rdquo;).</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">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">&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">&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">&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&nbsp;7 of the Securities Act or the rules&nbsp;and regulations thereunder.</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%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 50%; padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="width: 50%; padding: 0.25pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Very truly yours,</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">/s/ Ropes&nbsp;&amp; Gray LLP</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.25pt">&nbsp;</TD>
    <TD STYLE="padding: 0.25pt">Ropes&nbsp;&amp; Gray LLP</TD></TR>
  </TABLE>

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

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

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<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>3
<FILENAME>tm233845d1_ex23-2.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
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<P STYLE="margin: 0; text-align: right"><B>Exhibit 23.2</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We consent to the incorporation by reference in the Registration Statement
(Form S-8) dated January 19, 2023, pertaining to the Novavax, Inc. 2023 Inducement Plan of our reports dated February 28, 2022, 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, 2021, filed with the Securities and Exchange Commission.</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">/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">Tysons, Virginia</P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">January 19, 2023</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>

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

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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>4
<FILENAME>tm233845d1_ex107-1.htm
<DESCRIPTION>EX-FILING FEES
<TEXT>
<HTML>
<HEAD>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit&nbsp;107.1</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: center"><B>Calculation of Filing Fee Tables</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: center"><B>Form&nbsp;S-8</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Form&nbsp;Type)</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>Novavax,&nbsp;Inc.</B>&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Table 1&mdash;Newly Registered Securities</B></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%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border: black 1pt solid; white-space: nowrap; width: 12%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Security Type</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; white-space: nowrap; width: 20%; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Security <BR> Class<BR> Title</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; white-space: nowrap; width: 11%; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Fee <BR> Calculation<BR> Rule</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; white-space: nowrap; width: 11%; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amount<BR> Registered</B></FONT><SUP>(1)</SUP></TD>
    <TD STYLE="border-top: black 1pt solid; white-space: nowrap; width: 12%; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Proposed<BR> Maximum<BR> Offering Price<BR> Per Unit</B></FONT><SUP>(2)</SUP></TD>
    <TD STYLE="text-align: center; white-space: nowrap; width: 12%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid"><B>Maximum<BR>
Aggregate<BR>
 <FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Offering<BR>
 Price</FONT></B><SUP>(2)</SUP></TD>
    <TD STYLE="border-top: black 1pt solid; white-space: nowrap; width: 10%; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-bottom: 1.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Fee Rate</B></FONT></TD>
    <TD STYLE="border-top: black 1pt solid; white-space: nowrap; width: 12%; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Amount of<BR> Registration <BR>
Fee</B></FONT></TD></TR>
  <TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-left: 10.5pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equity</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Novavax,&nbsp;Inc. 2023 Inducement Plan &ndash; Common Stock, par value $0.01 per share</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">457(c)&nbsp;and 457(h)</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,000,000</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$11.47</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$11,470,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.0001102</FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,264.00</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total Offering Amounts</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$11,470,000</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,264.00</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Total Fee Offsets</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&mdash;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="4" STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Net Fee Due</B></FONT></TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$1,264.00</FONT></TD></TR>
  </TABLE>

<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%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%">(1) &nbsp;</TD>
    <TD STYLE="text-align: left; width: 96%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant to Rule&nbsp;416(a)&nbsp;promulgated under the Securities Act, this Registration Statement also covers such additional shares of the Registrant&rsquo;s Common Stock as may be issued to prevent dilution from stock splits, stock dividends and similar transactions.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Estimated solely for the purpose of calculating the registration fee pursuant to Rule&nbsp;</FONT>457(c)&nbsp;and 457(h)&nbsp;under the&nbsp;Securities Act. The proposed maximum offering price per share and the proposed maximum aggregate offering price are based upon the average of the high and low sale price of the Registrant&rsquo;s Common Stock, as reported by the Nasdaq Global Select Market on January&nbsp;12, 2023, which were $11.97 and $10.96, respectively.</TD></TR>
  </TABLE>

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

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

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<SEQUENCE>5
<FILENAME>tm233845d1_ex5-1img001.jpg
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
