PRESS RELEASE

PRESS RELEASE

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Novavax Files $100 Million Shelf Registration Statement

MALVERN, Pa., Nov. 22 /PRNewswire-FirstCall/ -- Novavax, Inc. (Nasdaq: NVAX) today announced that it has filed a shelf registration statement on Form S-3 with the Securities and Exchange Commission ("SEC"). Once declared effective by the SEC, this registration statement will enable Novavax to sell from time to time, in one or more separate offerings, up to $100 million of its securities, which may consist of common stock, preferred stock, warrants, or any combination thereof. The registration statement carries forward $42 million of securities unissued under Novavax's December 2005 registration statement. While the company has no current plans to access the capital markets, the shelf registration statement, once declared effective by the SEC, will allow the Board of Directors of Novavax to expediently approve for the Company to access the capital markets in the future.

A registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities law of any state. At the time any securities are offered for sale, a prospectus supplement will be provided containing specific information about the securities to be offered and the terms of the offering made.

About Novavax

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.

Forward-Looking Statements

Statements herein relating to future financial or business performance, conditions or strategies and other financial and business matters, including expectations regarding future revenues, operating expenses, and clinical developments are forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Novavax cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Factors that may cause actual results to differ materially from the results discussed in the forward-looking statements or historical experience include risks and uncertainties, including the failure by Novavax to secure and maintain relationships with collaborators; risks relating to the early stage of Novavax's product candidates under development; uncertainties relating to clinical trials; risks relating to the commercialization, if any, of Novavax's proposed product candidates; dependence on the efforts of third parties; dependence on intellectual property; competition for clinical resources and patient enrollment from drug candidates in development by other companies with greater resources and visibility, and risks that we may lack the financial resources and access to capital to fund our operations. Further information on the factors and risks that could affect Novavax's business, financial conditions and results of operations, is contained in Novavax's filings with the U.S. Securities and Exchange Commission, which are available at http://www.sec.gov. These forward-looking statements speak only as of the date of this press release, and Novavax assumes no duty to update forward-looking statements.

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

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