November 23, 2009 (FinancialWire) — Novavax, Inc. (NASDAQ: NVAX) has priced an underwritten public offering of 6.8 million shares of its common stock at a price to the public of $3.30 per share. Piper Jaffray & Co. (NYSE: PJC) and Lazard Capital Markets (NYSE: LAZ) are acting as joint book running managers.

The underwriters have been granted an option to purchase up to an additional 1,020,000 shares at any time on or prior to December 8, 2009 to cover over-allotments, if any.

Novavax said it would use the approximately $21 million of net proceeds for preclinical studies and clinical trials of the firm’s VLP-based vaccines, internal research and development programs, working capital, capital expenditures and other general corporate purposes.

Novavax is a clinical-stage biotechnology company creating novel vaccines to address a range of infectious diseases worldwide, including H1N1, using advanced proprietary virus-like-particle technology.

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