Boston, MA 06\/09\/2014 (wallstreetpr) \u2013\u00a0Novavax, Inc. (NASDAQ:NVAX)<\/b>, a bio-pharmaceutical company that works arduously on commercialization, development and discovery of vaccines and adjuvants prepared from recombinant nanoparticles, announced an offer to sell of IPO.<\/p>\n
A $100M IPO<\/b><\/p>\n
NVAX intends to sell out its common stocks worth $100 million, subject to congenial market conditions and such other conditions, by the virtue of underwritten Initial Public Offering or IPO.<\/p>\n
Novavax, Inc. (NASDAQ:NVAX)\u00a0intends to grant a 30-days\u2019 window to the underwriters to go about purchasing an additional quota of $15 million common stocks. However, the company hasn\u2019t quite shared or guaranteed any statistics pertaining to the size, successes and terms or conditions of this IPO.<\/p>\n
The offering\u2019s book-running processes shall be managed by JP Morgan and Citigroup. The revenues obtained from the IPO sell-out shall be utilized for corporate purposes, and expenses pertaining to preclinical researches, augmented manufacturing developmental processes and rigorous advancement on NVAX\u2019s clinical-stage vaccines. Besides, the company shall chalk out plans for capital expenses and myriad other strategic purposes from the proceeds obtained.<\/p>\n
Since the time this whopping IPO announcement was made, NVAX\u2019s market capitalization slid from its over-$1 billion mark by $100 million on June 5 and traded further down, touching at $871.63 million, by the end of market activity on June 6, 2014.<\/p>\n
NVAX\u2019s $210M Cash Plans<\/b><\/p>\n
Novavax, Inc. (NASDAQ:NVAX)\u00a0made an IPO, the second time during the last 1 year. During September 2013, NVAX garnered $80 million by selling off 27.2 million shares, priced at $3.14\/share! Over the past 9 months, the NVAX shares have bloated up, soaring above 52%. The company has $110 million cash on hand and is currently operating at a cash-burn rate of $20million\/quarter, on average.<\/p>\n
The financial estimates clearly depict that NVAX can withstand operating at the current cash flow rate for more than 1 year. If the company bags another $100 million from the IPO, it shall have enough cash to sustain itself for another year! During this 2-year period, NVAX needs one of its innovative and well-researched products to obtain the required regulatory approval, to mitigate any further chances in the near future, to raise funds by the virtue of IPOs.<\/p>\n
Meanwhile, the CEO and President of Novavax, Inc. (NASDAQ:NVAX), Stanley C. Erck presented one of its promising innovation portfolios in Jefferies Global Healthcare conference on June 5, 2014. Though the investors have turned cautious and bearish over NVAX\u2019s latest IPO, the rumor mills around that the stock has a prospective future in FY 2014-15!<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 06\/09\/2014 (wallstreetpr) \u2013\u00a0Novavax, Inc. (NASDAQ:NVAX), a bio-pharmaceutical company that works arduously on commercialization, development and discovery of vaccines and adjuvants prepared from recombinant […]<\/p>\n","protected":false},"author":15,"featured_media":25016,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[6461,6460],"stock_ticker":[],"class_list":["post-25015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-nasdaqnvax","tag-novavax-inc-nasdaqnvax","entry"],"acf":[],"yoast_head":"\n