LAUNCH PRESS RELEASE Novavax Announces Proposed Public Offering of Common Stock Gaithersburg, MD (

Novavax Announces Proposed Public Offering

Gaithersburg, MD (June 4, 2014)-Novavax,

Inc. (Nasdaq: NVAX), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of

recombinant nanoparticle vaccines and adjuvants, today announced that it intends to offer to sell, subject to market and other

conditions, $100 million of its common stock in an underwritten public offering. As part of this offering Novavax, Inc. intends

to grant the underwriters a 30-day option to purchase up to an additional $15 million of its common stock. The success, the size

and the terms of this offering cannot be guaranteed.

Citigroup and JP Morgan are acting as joint

book-running managers of the offering.

All shares being offered are to be sold

by Novavax, Inc., with the net proceeds from the offering to be used for general corporate purposes, the advancement of its clinical-stage

vaccine candidates and its preclinical research programs, manufacturing and process development activities, capital expenditures

and other strategic purposes.

The securities described above are being

offered by Novavax pursuant to its registration statement on Form S-3 previously filed and declared effective by the Securities

and Exchange Commission (SEC). This press release does not constitute an offer to sell or a solicitation of an offer to buy the

securities in the offering, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation

or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The offering may

be made only by means of the preliminary prospectus supplement and the prospectus relating to the proposed offering, copies of

which may be obtained, when available, from Citigroup and JP Morgan, Attention: Citigroup, c/o Broadridge Financial Solutions,

1155 Long Island Avenue, Edgewood, NY 11717, by telephone at (800) 831-9146; or J.P. Morgan Securities LLC, c/o Broadridge Financial

Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone: (866) 803-9204.

Novavax, Inc. (Nasdaq: NVAX) is a clinical-stage

biopharmaceutical company creating vaccines and vaccine adjuvants to address a broad range of infectious diseases worldwide. Using

innovative proprietary recombinant nanoparticle vaccine technology, the company produces vaccine candidates to efficiently and

effectively respond to both known and newly emergent diseases.

Forward-Looking Statements

Statements contained in this release, including those relating

to the sale of common stock, and those statements using words such as "expects" and "intends" are forward-looking

statements that involve a number of risks and uncertainties that could cause actual results to differ materially from those in

the forward-looking statements. These risks and uncertainties include, but are not limited to: our ability to successfully complete

the offering on terms and conditions satisfactory to us; the possible adverse impact on the market price of our shares of common

stock due to the dilutive effect of the securities to be sold in the offering; capital market risks; our ability to raise additional

capital when needed; and other risk factors identified from time to time in the reports we file with Securities and Exchange Commission

(SEC), including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, which are available

at www.sec.gov. We caution investors not to place considerable reliance on the forward-looking statements contained in this press

release. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation

to update or revise any of the statements. Our business is subject to substantial risks and uncertainties, including those referenced

above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.