GAITHERSBURG, Md. , Jan. 25, 2023 /PRNewswire/ — Novavax, Inc. (Nasdaq: NVAX), a biotechnology firm devoted to the event and commercialization of next-generation vaccines for critical infectious ailments, at this time introduced that it has granted a non-qualified inventory possibility and restricted inventory choice to John Okay. Jacobs, its newly appointed President and Chief Government Officer, as materials motivation for his employment with Novavax, efficient January 23, 2023, his first date of employment with Novavax (the “Grant Date”). These awards have been accredited by a majority of the impartial administrators of Novavax’s Board of Administrators and have been granted in accordance with Nasdaq Itemizing Rule 5635(c)(4) and pursuant to the Novavax, Inc. Incentive Plan. from 2023.
The nonqualified inventory possibility is an choice to buy 290,700 shares of Novavax widespread inventory with an train value per share of $11.92, the closing value of Novavax widespread inventory on the Nasdaq World Choose Market on the date of grant. A non-qualified inventory possibility has a time period of ten years and can vest on one-fourth of the underlying shares on the primary anniversary of the date of grant, and on the remaining shares in equal month-to-month installments for 36 months thereafter, in every case usually topic to extension of Mr. Jacobs’ employment with Novavax till the relevant vesting date. The restricted inventory models relate to 249,590 shares of Novavax widespread inventory and can vest on one-third of the restricted inventory on every of the primary three anniversaries of the date of grant, in every case usually topic to Mr. Jacobs continued employment with Novavax till the efficient date of the acquisition. Non-qualified inventory possibility and restricted inventory are topic to the phrases and situations of the Novavax, Inc. Incentive Plan. 2023 12 months.
Novavax, Inc. (Nasdaq: NVAX) is a biotechnology firm that promotes improved well being globally via the invention, growth and commercialization of progressive vaccines to stop critical infectious ailments. The corporate’s business recombinant know-how platform harnesses the facility and pace of genetic engineering to effectively produce extremely immunogenic nanoparticles designed to deal with pressing international well being wants. The Novavax COVID-19 vaccine (NVX-CoV2373) has obtained authorization from a number of regulatory authorities globally, together with the US FDA, the European Fee and the World Well being Group. The vaccine is at the moment below evaluation by a number of regulatory companies worldwide, together with for added indications and populations equivalent to adolescents and as a booster. Along with the Covid-19 vaccine, Novavax is at the moment evaluating its COVID-19-Influenza (CIC) vaccine candidate, its quadrivalent investigational influenza vaccine candidate and the Omicron strain-based vaccine (NVX-CoV2515), in addition to a bivalent format of Omicron-based / unique strain-based vaccine. These vaccine candidates incorporate Novavax’s saponin-based Matrix-M adjuvant to reinforce the immune response and stimulate excessive ranges of neutralizing antibodies.
Statements herein referring to the way forward for Novavax, its operational plans and prospects, its position in enhancing well being globally, the continuing growth of NVX-CoV2373, NVX-CoV2515, the Omicron-based bivalent vaccine / unique pressure, the CIC vaccine candidate and a quadrivalent investigational influenza vaccine candidate, future regulatory filings and actions and extra worldwide authorizations of NVX-CoV2373 for added indications and populations are forward-looking statements. Novavax cautions that these forward-looking statements are topic to quite a few dangers and uncertainties that might trigger precise outcomes to vary materially from these expressed or implied by such statements. These dangers and uncertainties embody, with out limitation, challenges that fulfill, alone or along with companions, varied security, efficacy and product characterization necessities, together with these associated to course of qualification and assay validation, essential to fulfill relevant regulatory authorities; difficulties in acquiring scarce uncooked supplies and supplies; useful resource constraints, together with human capital and manufacturing capability, on Novavax’s skill to pursue deliberate regulatory pathways; surprising challenges or delays in conducting scientific trials; challenges in assembly contractual necessities below contracts with a number of business, authorities and different entities; the emergence of SARS-CoV-2 virus variants which will adversely have an effect on the market acceptance or anticipated gross sales of NVX-CoV-2373; and people different threat components recognized within the “Threat Components” and “Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations” sections of Novavax’s Annual Report on Type 10-Okay for the 12 months ended December 31, 2021 and thereafter Quarterly Experiences on Type 10-Q, filed with the Securities and Trade Fee (SEC). Buyers are cautioned to not place important reliance on forward-looking statements contained on this press launch. We encourage you to learn our filings with the SEC, out there at www.sec.gov and www.novavax.com, for a dialogue of those and different dangers and uncertainties. The forward-looking statements on this press launch communicate solely as of the date hereof, and we undertake no obligation to replace or revise any of the statements. Our enterprise is topic to important dangers and uncertainties, together with these set forth above. Buyers, potential traders and others ought to fastidiously think about these dangers and uncertainties.
Erica Schultz | 240-268-2022
Ali Chartan and Giovanna Chandler | 202-709-5563
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SOURCE Novavax, Inc.
Firm codes: NASDAQ-NMS: NVAX