Changed Risks for NOVAVAX INC (NVAX)

Here are risks that changed year over year. risks from the recent filings of NOVAVAX INC. Our algorithms work hard to highlight risks unique to this company.

from Contracts with Customers (Topic 606)

Results of Operations for Fiscal Years

Early-stage Vaccine Candidates

ResVax Program (Infants

a Going Concern

obtain patent term extension and/or patent term adjustment in the United States under the Hatch-Waxman Act and similar extensions

to Continue as a Going Concern,

– Revenue Recognition

Property and

Presentation of Financial Statements-Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability

Contract and Joint Venture

Note 15 – Related Party Transaction

2018, 2017 and 2016

Compensation – Stock Compensation

Note 2 – Going Concern

Information (Unaudited)

Not-for-Profit Entities – Revenue Recognition

current cash position, there is substantial doubt about our ability to continue as a going concern through one year from the

Critical Accounting Policies and

RSV Pediatrics

laws and regulations could lead to government enforcement actions, which would cause our business and reputation to suffer

to license intellectual property from third-parties and, if our right to use the intellectual property we license is affected,

some of which may be significant, around further development of that vaccine

depends on our ability to maintain the proprietary nature of our technology

and Hedging – Overall

Note 7 – Grant, US Government

with BMGF does not assure success of ResVax or that the vaccine candidate will be licensed by the FDA

Vaccine

Equipment, net

2017 tax reform bill could adversely affect our business and financial condition

The Company's Ability to Continue as

Not-for-Profit Entities

Compensation – Stock Compensation (Topic 718)

If we do not

Note 4 – Fair Value Measurements

Research and

Intangibles – Goodwill and Other (Topic 350)

The comprehensive

Convertible Notes

results from the Prepare trial, including that ResVax failed to meet the primary endpoint of the trial, will likely create challenges,

Recently announced

Going Concern

Disclosure Controls and Procedures

Statement of Cash Flows – Restricted Cash

Note 16 – Quarterly Financial

Management’s Report on Internal Control over Financial Reporting

in foreign countries, our ability to exclude competitors may be harmed

Combination Seasonal Influenza/RSV F

We may need

Development Expenses

Grant Agreement with BMGF, we may not be able to fully fund ResVax

adversely affected These risks may be amplified by our recent announcement of the results of the Prepare trial of ResVax

and other disruptions could compromise our information and expose us to liability, and our failure to comply with data protection

Evaluation of

date that the financial statements included in this Annual Report were issued

NanoFlu Program (Older Adults)

Respiratory Syncytial Virus (RSV)

Given our

Impairments of Long-Lived

our ability to develop and commercialize our vaccine candidates may be harmed

via Maternal Immunization)