PRESS RELEASE

PRESS RELEASE

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Novavax Announces Release Date of Second Quarter 2006 Financial Results and Investor Conference Call

MALVERN, Pa., Aug. 2 /PRNewswire-FirstCall/ -- Novavax, Inc. (Nasdaq: NVAX) today announced that it will report its second quarter financial results in a Press Release to be issued after 7:00 a.m. EDT on August 14, 2006. The Company will subsequently hold an investor conference call to discuss its financial results at 10:00 a.m. EDT on August 14, 2006. The call will be hosted by Mr. Gary C. Evans, Chairman of the Board, and Dr. Rahul Singhvi, President and CEO of Novavax. Other participants on the call will include senior management of Novavax. A question and answer session will follow the financial results overview. The dial-in number for the conference call is 1-866-831-6247 (International: 1-617-213-8856), pass code 81874360.

A live audio webcast of the conference call will be available through http://www.novavax.com. Please connect to this website at least 15 minutes prior to the conference call to ensure adequate time for any software download that may be needed to hear the webcast. A replay of the webcast will be available for 90 days starting on August 14, 2006 at http://www.novavax.com. A replay of the conference call will also be available by telephone starting on August 14, 2006 at noon through August 21, 2006. To access the replay, dial 1-888-286-8010 and enter pass code 71644430 followed by the number sign.

About Novavax, Inc.

Novavax, Inc. is committed to leading the global fight against infectious disease by creating novel, highly potent vaccines that are safer and more effective than current preventive options. Using the company's proprietary virus-like particle (VLP) and Novasome(R) adjuvant technologies, Novavax is developing vaccines to protect against H5N1 pandemic influenza, seasonal flu and other viral diseases. Novavax's particulate vaccines closely match disease-causing viruses while lacking the genetic material to cause disease, which provides potential for greater immune protection at lower doses than current vaccines. With an exclusive portable manufacturing system that allows for rapid mass-production of vaccines, Novavax is uniquely positioned to meet global public health needs.

Forward-Looking Statements

Statements made in this press release that state Novavax's or management's intentions, hopes, beliefs, expectations, or predictions of the future are forward-looking statements. Forward-looking statements include but are not limited to statements regarding usage of cash, product sales, future product development and related clinical trials and future research and development, including FDA approval. Novavax's actual results could differ materially from those expressed in such forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from those expressed or implied by such forward-looking statements. Such factors include, among other things, the following: general economic and business conditions; ability to enter into future collaborations with industry partners, competition; unexpected changes in technologies and technological advances; ability to obtain rights to technology; ability to obtain and enforce patents; ability to commercialize and manufacture products; ability to establish and maintain commercial-scale manufacturing capabilities; results of clinical studies; progress of research and development activities; business abilities and judgment of personnel; availability of qualified personnel; changes in, or failure to comply with, governmental regulations; the ability to obtain adequate financing in the future through product licensing, co-promotional arrangements, public or private equity financing or otherwise; and other factors referenced herein. Additional information is contained in Novavax's annual report on Form 10K for the year ended December 31, 2005 and quarterly report on Form 10Q for the quarter ended March 31, 2006 incorporated herein by reference. Statements made herein should be read in conjunction with Novavax's annual and quarterly reports filed with the SEC. Copies of these filings may be obtained by contacting Novavax at 508 Lapp Road, Malvern, PA 19355, Tel 484-913-1200 or the SEC at http://www.sec.gov.

SOURCE Novavax, Inc.

CONTACT: Mariann Caprino, Novavax, Inc., +1-484-913-1213