SOURCE: Industrial Info Resources

May 02, 2008 05:30 ET

Novavax Goes Through the Change as It Sheds Estrogen Drug to Focus on Vaccine Production, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - May 2, 2008) - Reported by Annette Kreuger, Industrial Info Resources (Sugar Land, Texas)--What a difference a day makes, or in the case of Novavax Incorporated (NASDAQ: NVAX) (Rockville, Maryland), just a few short years. Not long ago, the pharma company's sole product was estrogen-replacement therapy Estrasorb, and it was struggling as it was buried under a $35 million debt with only $5 million in cash and burning $2 million per month. Today, the company is flush with capital, some invested by its new partner GE Healthcare, a division of General Electric (NYSE: GE) (Fairfield, Connecticut), as it completes a shift in therapeutic focus to vaccine development and production.

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