7Baggers
Quarterly
Annual
    Unit: USD2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-09-30 2020-06-30 2020-03-31 2019-12-31 2019-09-30 2019-06-30 2019-03-31 2018-12-31 2018-09-30 2018-06-30 2018-03-31 2017-12-31 2017-09-30 2017-06-30 2017-03-31 2016-12-31 2016-09-30 2016-06-30 2016-03-31 2015-12-31 2015-09-30 2015-06-30 2015-03-31 2014-09-30 2014-06-30 2014-03-31 2011-06-30 2011-03-31 2010-09-30 2010-06-30 2010-03-31 2009-09-30 2009-06-30 2009-03-31 2008-12-31 2008-09-30 2008-06-30 2008-03-31 2007-12-31 2007-09-30 2006-12-31 2006-09-30 2006-06-30 2006-03-31 2005-12-31 2005-09-30 2005-06-30 2005-03-31 2004-12-31 2004-09-30 2004-06-30 2004-03-31 2003-12-31 2003-09-30 2003-06-30 2003-03-31 2002-12-31 2002-09-30 2002-06-30 2002-03-31 
      
    		                                                                               
      operating activities:
    		                                                                               
      net income
    		-202,379,000 106,508,000 518,646,000 -81,030,000 -121,300,000 162,381,000 -147,550,000 -178,389,000 -130,776,000 58,008,000 -293,905,000 -182,249,000 -168,613,000 -510,485,000 203,408,000 -846,284,000 -322,431,000 -352,317,000 -222,719,000 -197,310,000 -17,521,000 -25,864,000 -31,830,000 -18,043,000 -39,603,000 -43,218,000 -49,334,000 -44,570,000 -44,492,000 -46,352,000 -50,842,000 -44,608,000 -44,465,000 -43,854,000 -57,109,000 -66,254,000 -79,351,000 -77,252,000 -78,806,000 -33,120,000 -20,641,000 -24,370,000 -19,727,000 -17,864,000 -13,810,000      -7,530,000 -8,540,000 -8,349,000       -6,148,000 -5,014,000 -6,411,000 -5,495,000  -2,727,000 -5,716,000 -8,886,000  -2,656,000 -7,717,000 -5,258,000 -3,083,000 -3,360,000 -5,028,000 -5,802,000 -5,145,000 -6,714,000 -5,496,000 -5,342,000 
      reconciliation of net income to net cash from operating activities:
    		                                                                               
      depreciation and amortization
    		6,585,000 7,563,000 8,340,000 12,517,000 12,700,000 11,132,000 12,147,000 10,794,000 11,321,000 10,067,000 9,043,000 7,222,000 8,347,000 6,720,000 6,765,000 3,672,000 4,262,000 2,410,000 2,317,000 1,186,000 980,000 925,000 932,000 880,000 1,925,000 1,939,000 1,982,000 2,041,000 2,057,000 2,079,000 2,121,000 3,529,000 2,056,000 2,111,000 2,218,000 2,221,000 2,112,000 1,954,000 1,636,000 1,552,000 1,486,000 1,309,000 1,039,000 976,000 980,000 399,000 389,000 358,000 337,000 296,000                              
      non-cash stock-based compensation
    		8,549,000 9,214,000 10,285,000 10,448,000 12,049,000 14,099,000 11,556,000 15,658,000 20,760,000 20,292,000 28,647,000 27,775,000 31,544,000 38,048,000 32,933,000 32,169,000 45,274,000 53,123,000 53,060,000 65,705,000 7,932,000 3,965,000 4,245,000 2,624,000 4,621,000 5,558,000 4,387,000 4,431,000 4,251,000 5,245,000 6,752,000 4,331,000 4,513,000 4,213,000 3,780,000 5,162,000 5,257,000 4,961,000 4,153,000 4,764,000 2,582,000 1,932,000 1,691,000 1,852,000 1,040,000 703,000 432,000 632,000 425,000 84,000                              
      benefit from excess and obsolete inventory
    		566,000 1,103,000 276,000 1,057,000 1,441,000 9,665,000 8,807,000 22,664,000 17,987,000 19,056,000 12,490,000 89,522,000 202,413,000                                                                   
      impairment of assets held for sale
    		                                                                               
      impairment of long-lived assets
    		3,033,000   -1,299,000 3,762,000 0 1,669,000 0 0                                                                       
      loss on debt extinguishment
    		                                                                               
      other items
    		-229,000 -11,868,000 16,550,000 -18,023,000 -1,099,000 1,762,000 -4,449,000 -4,027,000 -2,926,000 1,163,000 -1,252,000 3,156,000 -24,417,000 -1,276,000 634,000 -10,380,000                                                                
      changes in operating assets and liabilities:
    		                                                                               
      inventory
    		-3,753,000 -4,010,000 2,375,000 -189,000 -1,073,000 -2,643,000 16,819,000 8,085,000 -63,181,000 -10,139,000 -9,222,000 -51,335,000 -22,741,000 -304,168,000 -99,557,000                                      -2,000  -8,000 -4,000 -18,000  -54,000 300,000 -143,000 23,000 20,000  -538,000 971,000 1,092,000  -1,531,000 125,000 -17,000 -124,000        
      accounts receivable, prepaid expenses, and other assets
    		207,927,000 -168,814,000 73,867,000 913,000 -37,590,000 94,712,000 296,054,000 -240,024,000 232,064,000 -284,912,000 18,430,000 77,841,000 58,480,000                                                                   
      accounts payable, accrued expenses, and other liabilities
    		-26,535,000 -62,642,000 -211,846,000 -42,468,000 23,326,000 -94,023,000 -272,461,000 -29,544,000 93,977,000 -213,139,000 -230,099,000 822,981,000 -88,740,000                                                                   
      deferred revenue
    		-11,712,000 -4,865,000 -603,995,000 -6,902,000 -37,030,000 117,184,000 -6,147,000 211,889,000 -218,881,000 217,585,000 140,275,000 -890,646,000 -78,459,000 -15,418,000 -61,391,000 332,967,000 45,745,000 397,261,000 549,584,000 -77,038,000 155,736,000 1,437,000 -915,000 -1,839,000 -2,410,000 -3,167,000 -5,354,000 7,682,000 -8,691,000 -9,247,000 -9,447,000 -7,931,000 18,321,000 -5,399,000 -77,000 -2,649,000 -1,687,000 -1,644,000 36,035,000 -4,000 2,000 107,000 -17,000 -28,000 -215,000   -47,000 -7,000 -89,000                   0 -62,000 -63,000 -62,000        
      net cash from operating activities
    		107,804,000 -127,462,000 -185,502,000 -173,163,000 -144,814,000 314,269,000 -83,555,000 -176,781,000 -39,655,000 -171,938,000 -325,593,000 -117,816,000 -38,708,000 -170,903,000 -88,510,000 -342,408,000 -142,143,000 144,412,000 663,085,000 -6,497,000 115,634,000 -23,110,000 -23,743,000 -32,259,000 -30,014,000 -50,607,000 -45,266,000 -33,513,000 -39,971,000 -66,075,000 -32,078,000 -37,255,000 -30,746,000 -38,617,000 -61,248,000 -62,356,000 -62,032,000 -69,831,000 -54,751,000 -28,527,000 -12,322,000 -30,490,000 -15,874,000 -10,941,000 -20,431,000 -8,398,000 -9,041,000 -8,317,000 -9,347,000 -9,380,000 -6,417,000 -7,300,000 -6,727,000  -10,418,000 -1,970,000 -5,202,000  -9,159,000  -3,239,000 -4,829,000 -4,328,000  -789,000 -4,379,000 -8,359,000  -9,960,000 -5,853,000 -4,891,000      -5,888,000   
      investing activities:
    		                                                                               
      capital expenditures
    		-2,017,000 -247,000 -1,220,000 -1,932,000 -1,372,000 -2,875,000 -6,878,000 -8,839,000 -18,158,000 -6,973,000 -19,801,000   -24,576,000 -16,826,000 -16,364,000 -12,190,000 -15,151,000 -13,781,000 -8,726,000 -3,762,000 -122,000 -216,000 -360,000 -476,000 -805,000 -517,000 -396,000 -309,000 -150,000 -646,000 -1,225,000 -1,234,000 -1,084,000 -3,204,000 -3,963,000 -5,529,000 -5,517,000 -4,638,000 -4,408,000 -4,376,000 -4,864,000 -3,031,000 -957,000 -889,000 -137,000 -41,000 -712,000 -54,000 -658,000 -188,000 -105,000 -63,000  -778,000 -2,642,000 -1,631,000  -416,000 -388,000 -473,000 -428,000 -227,000  -23,000 -72,000 -8,000  -525,000 -315,000 -587,000 -1,016,000 -583,000       
      free cash flows
    		105,787,000 -127,709,000 -186,722,000 -175,095,000 -146,186,000 311,394,000 -90,433,000 -185,620,000 -57,813,000 -178,911,000 -345,394,000   -195,479,000 -105,336,000 -358,772,000 -154,333,000 129,261,000 649,304,000 -15,223,000 111,872,000 -23,232,000 -23,959,000 -32,619,000 -30,490,000 -51,412,000 -45,783,000 -33,909,000 -40,280,000 -66,225,000 -32,724,000 -38,480,000 -31,980,000 -39,701,000 -64,452,000 -66,319,000 -67,561,000 -75,348,000 -59,389,000 -32,935,000 -16,698,000 -35,354,000 -18,905,000 -11,898,000 -21,320,000 -8,535,000 -9,082,000 -9,029,000 -9,401,000 -10,038,000 -6,605,000 -7,405,000 -6,790,000  -11,196,000 -4,612,000 -6,833,000  -9,575,000  -3,712,000 -5,257,000 -4,555,000  -812,000 -4,451,000 -8,367,000  -10,485,000 -6,168,000 -5,478,000         
      purchases of available-for-sale marketable securities
    		-235,012,000 0 -114,724,000  -71,683,000                                                                           
      proceeds from maturities of available-for-sale marketable securities
    		100,500,000 111,625,000 43,000,000                                                                             
      internal-use software
    		0 -280,000 -375,000 -320,000 -640,000 -250,000 -372,000 -239,000 -233,000 -806,000 -3,757,000                                                                     
      net cash provided used in investing activities
    		                                                                               
      financing activities:
    		                                                                               
      net proceeds from sales of common stock
    		   0 0 256,410,000 6,862,000 103,248,000 195,009,000   69,845,000 0 0 179,385,000 0 0 0 564,859,000 53,307,000 207,845,000 185,918,000 30,172,000 11,978,000 3,000 55,239,000 3,574,000 0 53,887,000 42,599,000 17,396,000 23,294,000 8,150,000 14,585,000      7,182,000 3,474,000 193,619,000     1,317,000      122,000         -41,000 56,022,000                 
      proceeds on the issuance of convertible senior notes due 2031, net of issuance costs
    		                                                                               
      net proceeds from the exercise of stock-based awards
    		820,000 -428,000 -4,860,000 -666,000 415,000 2,172,000 -616,000 -540,000 354,000 -198,000 543,000 -706,000 -983,000 -268,000 1,318,000 3,320,000 -5,462,000                                                               
      finance lease payments
    		-984,000 -612,000 -2,201,000 -2,756,000 -512,000 -366,000 -360,000 -2,319,000 1,758,000 -453,000 -26,331,000 -47,691,000 -29,993,000 4,927,000 -20,838,000 -64,031,000 -10,258,000 -41,647,000 -11,971,000                                                             
      net cash from financing activities
    		42,442,000 -1,040,000 -7,061,000 -3,422,000 -97,000 258,216,000 5,886,000 100,389,000 197,121,000 61,335,000 -354,379,000 191,440,000 -30,976,000 4,659,000 159,865,000 -60,711,000 -15,720,000 -38,843,000 576,987,000 -22,388,000 416,617,000 185,923,000 30,172,000 12,028,000 3,000 56,181,000 3,857,000 1,020,000 54,004,000 43,924,000 17,415,000 23,630,000 8,131,000 15,364,000 -54,000 480,000 253,000 278,351,000 201,000 8,522,000 4,064,000 195,496,000 581,000 107,698,000 1,170,000 7,002,000 1,353,000 19,044,000 3,389,000 38,000     17,512,000 -647,000 -44,000  61,000 648,000     3,314,000 -309,000 -307,000   -94,000 -270,000 25,806,000 41,000   594,000 -8,000   
      effect of exchange rate on cash, cash equivalents, and restricted cash
    		658,000 7,906,000 -930,000 -10,717,000 6,028,000 -156,000 -2,955,000 2,917,000 9,347,000 -620,000 -8,372,000 4,263,000 4,710,000 -5,765,000 1,312,000                                                                 
      net increase in cash, cash equivalents, and restricted cash
    		14,375,000    -106,971,000      -711,902,000 55,823,000 -94,493,000 -196,585,000 55,841,000                                                                 
      cash, cash equivalents, and restricted cash at beginning of period
    		0 0 545,292,000  0 0 583,810,000  0 0 1,348,845,000  0 0 1,528,259,000                                                                 
      cash, cash equivalents, and restricted cash at end of period
    		14,375,000 -9,498,000 278,480,000  -106,971,000 199,622,000 495,936,000  148,422,000 -119,002,000 636,943,000  -94,493,000 -196,585,000 1,584,100,000                                                                 
      supplemental disclosure of non-cash activities:
    		                                                                               
      issuance of convertible senior notes due 2031 in exchange for convertible senior notes due 2027
    		                                                                               
      right-of-use assets from new lease agreements
    		       6,807,000    -26,407,000 48,896,000 11,014,000 58,352,000 144,296,000 6,088,000 19,056,000 9,770,000                                                             
      capital expenditures included in accounts payable and accrued expenses
    		169,000   -544,000 -530,000 929,000 1,208,000 5,505,000 -4,197,000 -4,256,000 10,847,000 5,681,000 -5,906,000 2,016,000 15,874,000 2,454,000 -3,153,000 1,961,000 9,076,000                                                             
      internal-use software included in accounts payable and accrued expenses
    		      250,000                                                                         
      supplemental disclosure of cash flow information:
    		                                                                               
      cash interest payments, net of amounts capitalized
    		2,307,000 7,007,000 2,799,000 9,072,000 1,320,000 5,974,000 1,206,000 5,598,000 457,000 4,728,000 6,566,000                                                                     
      cash paid for income taxes, net of refunds
    		3,878,000 3,423,000 1,499,000  1,290,000 -578,000 -71,000                                                                         
      net cash from investing activities
    		 111,098,000 -73,319,000 144,007,000 31,912,000 -372,707,000 -7,250,000 -9,078,000 -18,391,000 -7,779,000 -23,558,000 -22,064,000 -29,519,000 -24,576,000 -16,826,000 -16,364,000 -12,190,000 -12,901,000 141,609,000 -100,710,000 -188,218,000 -57,728,000 -216,000 17,973,000 2,024,000 18,711,000 48,318,000 7,996,000 -48,305,000 20,587,000   2,531,000 -25,284,000 85,905,000 92,571,000 18,981,000 -169,440,000 9,559,000 -9,210,000 -39,407,000 17,788,000 -54,100,000 -102,781,000 9,701,000   -3,958,000 829,000 -14,840,000 2,262,000 -104,000 68,000  6,187,000 11,428,000 15,598,000  17,577,000 -12,367,000 -53,793,000 -428,000 -227,000  -23,000 -72,000 -8,000  -525,000 -315,000 -587,000     -895,000 -2,401,000   
      right-of-use asset leases, net of tenant improvement allowance on facility leases
    		    3,987,000                                                                           
      net decrease in cash, cash equivalents, and restricted cash
    		  -266,812,000    -87,874,000  148,422,000                                                                       
      gain on disposition of novavax cz assets
    		                                                                               
      right-of-use assets expensed, net of credits received
    		           -22,083,000 43,478,000                                                                   
      proceeds from disposition of novavax cz assets
    		                                                                               
      purchases of marketable securities
    		               0 0 0 -2,167,000 -158,722,000 -50,002,000 -57,606,000 0 -15,000,000 0 -2,484,000 -2,978,000 -38,798,000 -76,390,000 -1,984,000 -50,976,000 -16,025,000 -40,714,000 -110,330,000 -28,806,000 -37,120,000 -44,050,000 -246,580,000 -74,233,000 -78,559,000 -68,931,000 -6,798,000                                      
      proceeds from maturities of marketable securities
    		                   66,738,000   0 15,000,000 2,500,000 22,000,000 51,813,000 47,190,000 28,394,000 22,721,000 68,385,000 59,208,000 44,479,000 86,130,000  133,654,000 68,560,000 82,657,000  73,757,000 33,900,000 29,450,000                                      
      proceeds from issuance of 2027 convertible notes
    		                                                                               
      payments of costs related to issuance of 2027 convertible notes
    		       0 0 0 -3,591,000                                                                     
      repayment of 2023 convertible notes
    		       0 0 0 -325,000,000                                                                     
      cash, cash equivalents, and restricted cash at beginning of year
    		                                                                               
      cash, cash equivalents, and restricted cash at end of year
    		                                                                               
      sale of common stock under the sales agreement not settled at year-end
    		                                                                               
      right-of-use assets from new lease agreements, net of tenant improvement allowance on facility leases
    		                                                                               
      cash paid for income taxes, net of refunds received
    		                                                                               
      sale of common stock under the sales agreement not settled at quarter-end
    		                               258,000 109,000 225,000                                              
      cash paid for income taxes
    		       62,000 0   137,000 65,000 2,327,000 15,451,000 6,565,000 3,024,000 0 3,017,000                                                             
      sales of common stock not settled at end of period
    		                                                                               
      acquisition of novavax cz, net of cash acquired
    		                                                                               
      net proceeds from sale of preferred stock
    		                   0                                                            
      proceeds from issuance of convertible notes
    		                                  0 0 0 325,000,000                                          
      payments of costs related to issuance of convertible notes
    		                                  0 0 0 -9,966,000                                          
      purchases of property and equipment
    		                                                                               
      internal-use software development costs
    		                                                                               
      proceeds from maturities and sale of marketable securities
    		                0 2,250,000 157,557,000                                                             
      cash interest payments
    		            8,656,000 1,950,000 6,654,000  7,722,000 2,516,000 7,530,000                                118,000 238,000 523,000  411,000 -34,000 688,000  -531,394,000  529,000                   
      right-of-use assets expensed
    		              214,000    951,000                                                             
      receivables, prepaid expenses, and other assets
    		              -56,016,000                                                                 
      accounts payable and accrued expenses
    		              -115,500,000 419,618,000 65,496,000 61,887,000 53,325,000 33,446,000 35,544,000 -8,450,000 5,397,000 -5,930,000 901,000 -11,853,000 3,753,000 -3,993,000 6,789,000 -13,293,000 4,828,000 469,000 4,762,000 -4,867,000 -11,204,000 -2,632,000 7,546,000 1,482,000 16,781,000 633,000 -765,000 -7,574,000 1,115,000 2,728,000 -4,007,000 -2,157,000 -1,651,000 1,210,000 -931,000 1,189,000 670,000 -156,000 -242,000  1,434,000 2,125,000 -1,172,000  -267,000 1,165,000 -209,000 697,000 -1,059,000   -221,000 -2,184,000  1,738,000 3,681,000 224,000 -1,582,000        
      gain on sale of assets
    		                                                                               
      proceeds from sale of assets
    		                                                                               
      right-of-use assets written off
    		                4,410,000                                                               
      receivables, prepaid expenses and other assets
    		                16,217,000 -27,201,000 220,205,000                                                             
      acquisition of novavax cz, net of cash required
    		                                                                               
      effect of exchange rate on cash, cash equivalents and restricted cash
    		                -5,860,000 1,001,000 -1,349,000 -243,000 349,000 -73,000 37,000 -47,000 23,000 -45,000 14,000 -26,000 -10,000 -26,000                                                  
      net increase in cash, cash equivalents and restricted cash
    		                -175,913,000 93,669,000 1,380,332,000 -129,838,000 344,382,000 105,012,000    24,240,000                                                      
      cash, cash equivalents and restricted cash at beginning of period
    		                0 0 648,738,000 0 0 82,180,000  0 0 81,959,000  0 0 135,431,000                                                  
      cash, cash equivalents and restricted cash at end of period
    		                -175,913,000 93,669,000 2,029,070,000 -129,838,000 344,382,000 187,192,000  -2,305,000 -27,964,000 106,199,000  -24,523,000 -34,282,000 133,841,000                                                  
      other
    		                 -2,507,000 6,362,000 -2,326,000   3,600,000 0 1,283,000 -14,000 -576,000 -753,000 -632,000 -435,000 247,000 1,121,000   105,000 104,000 99,000 98,000 103,000 62,000 -68,000 146,000                                      
      proceeds from the exercise of stock-based awards
    		                  26,750,000                                                             
      treasury stock related to tax withholding on stock-based awards
    		                  -2,651,000                                                             
      ​
    		                                                                               
      loss on disposal of property and equipment
    		                              -25,000 -2,000 231,000 65,000                   29,000                           
      gain on catalent transaction
    		                      0                                                         
      amortization of debt issuance costs
    		                   356,000 356,000 356,000 356,000 356,000 356,000 356,000 357,000 355,000 356,000 356,000 356,000 356,000 356,000 356,000 356,000 356,000 356,000 237,000                                          
      write off of right-of-use assets
    		                                                                               
      proceeds from catalent transaction
    		                      0                                                         
      prepaid expenses and other assets
    		                    -65,600,000 4,521,000 -5,528,000 -1,291,000 2,913,000 -296,000 -481,000 1,304,000   2,163,000 -1,442,000 776,000 1,093,000 -713,000 -1,590,000 401,000 -1,289,000 -3,733,000 -3,087,000 -958,000 -2,491,000 -1,525,000 -307,000 -1,516,000      416,000    151,000       -260,000 219,000   43,000 397,000  114,000 -1,363,000 -79,000 -60,000        
      acquisition of praha vaccines a.s., net of cash acquired
    		                                                                               
      proceeds from the exercise of stock options and employee stock purchases
    		                    8,950,000 5,000 0 50,000 0 942,000 283,000 1,020,000 117,000 1,325,000 19,000 336,000 0 797,000 9,000 1,419,000 374,000 2,000,000 361,000 1,625,000 758,000 2,057,000 778,000 165,000 1,345,000                                   
      property and equipment purchases included in accounts payable and accrued expenses
    		                    2,628,000 125,000  37,000 -48,000 194,000  -35,000 99,000 62,000  -605,000 -137,000 823,000  -652,000 -468,000 3,180,000  225,000 -953,000 3,118,000 159,000 626,000 214,000                                   
      cash payments of interest
    		                    0 6,094,000  6,094,000 0 6,094,000  6,094,000 0 6,094,000  6,094,000 0 6,094,000  6,165,000 9,000 12,000  22,000 26,000 31,000 43,000 48,000 52,000                                   
      gain on disposal of property and equipment
    		                      0 0 0 88,000                  1,000 3,000                                   
      non-cash impact of lease termination
    		                          0 0 0 -4,381,000                                                  
      lease incentives received
    		                              448,000 0 237,000 1,248,000 0 0                                            
      principal payments of capital leases
    		                                                                               
      cash, cash equivalents and restricted cash at beginning of year
    		                                                                               
      cash, cash equivalents and restricted cash at end of year
    		                                                                               
      net decrease in cash, cash equivalents and restricted cash
    		                       -2,305,000    -24,523,000 -34,282,000 -1,590,000                                                  
      (gain) loss on disposal of property and equipment
    		                          0 -10,000 2,000 -47,000                                                  
      other liabilities
    		                                 543,000 2,753,000 9,000 -15,000 -1,535,000                                          
      principal payments of notes payable
    		                                             -20,000 -20,000 -20,000 -20,000 -26,000 -2,742,000 -11,539,000 -807,000  -170,000 -170,000 -658,000  -248,000  -222,000 -221,000 -217,000                 
      payments for capped call transactions and costs
    		                                  0 0 0 -38,521,000                                          
      principal payments on capital lease
    		                               0 -19,000 -18,000                                              
      restricted cash
    		                              11,321,000 6,922,000 -18,343,000 5,880,000 -1,679,000 2,610,000 1,092,000 1,278,000 -36,501,000 0 0 297,000 203,000 133,000 1,081,000                                   
      changes in restricted cash
    		                                  0    0    0                                     
      effect of exchange rate on cash and cash equivalents
    		                              -38,000 119,000 30,000 31,000 -198,000 -142,000 -32,000 37,000 -45,000 -25,000 -1,000 -79,000 9,000 -40,000 10,000                                   
      net increase in cash and cash equivalents
    		                              2,062,000   -48,506,000 24,405,000 30,553,000 -42,830,000 39,117,000 -45,036,000 -29,240,000 -47,666,000 182,715,000    4,734,000 297,000    4,768,000 5,587,000 -7,309,000 18,775,381,290,144,000 13,281,000 8,811,000 10,352,000  8,479,000                     
      cash and cash equivalents at beginning of year
    		                                                                               
      cash and cash equivalents at end of year
    		                                                                               
      net cash proved by (used in) investing activities
    		                                                                               
      principal payments on notes payable
    		                                   -104,000 -103,000 -143,000  -143,000 -151,000 -164,000 -167,000 -170,000 -168,000                                   
      cash and cash equivalents at beginning of period
    		                               0 0 144,353,000  0 0 93,108,000  0 0 32,335,000 0 0 119,471,000 0 8,061,000 0 0 38,757,000 0 0 26,938,000  0 0 4,350,000  0  0 0 31,893,000  0 0 17,876,000  0 0 27,633,000  0 0 3,005,000  0 0 20,045,000 
      cash and cash equivalents at end of period
    		                               28,452,000 -20,054,000 95,847,000  30,553,000 -42,830,000 132,225,000  -29,240,000 -47,666,000 215,050,000 -69,384,000 -6,064,000 109,921,000 4,734,000 8,358,000 6,769,000 -5,129,000 14,575,000 4,768,000 5,587,000 19,629,000  13,281,000 8,811,000 14,702,000  8,479,000  -57,307,000 -5,340,000 83,941,000  2,502,000 -4,760,000 9,202,000  11,880,000 -6,262,000 21,885,000  -3,580,000 -4,695,000 14,320,000  -8,297,000 5,042,000 10,885,000 
      net decrease in cash and cash equivalents
    		                                           -6,064,000 -9,550,000    -5,129,000 -24,182,000                              
      amortization of net (discounts) premiums on marketable securities
    		                                 -6,000                                              
      amortization of net premiums on marketable securities
    		                                  -6,000 -23,000 140,000 146,000 262,000 362,000 166,000 427,000                                      
      realized gains on marketable securities
    		                                                                               
      accounts receivable
    		                                  356,000 -236,000 26,000 1,926,000       -2,559,000      -131,000    -145,000 557,000 20,000                       
      proceeds from disposal of property and equipment
    		                                          27,000         1,000 6,000                           
      proceeds from sales, maturities and redemptions of marketable securities
    		                                                                               
      cash paid with acquisition
    		                                                                               
      deferred rent
    		                                   566,000 29,000 -193,000 -167,000 -189,000 -170,000 -195,000 -257,000 -258,000 213,000 -85,000 -83,000 -75,000 -59,000 -72,000 -70,000 -71,000 -66,000  -3,060,000 2,996,000 -1,000  29,000 -33,000 -32,000 -16,000 -16,000  25,000    -5,000 9,000 8,000         
      principal payments on capital leases
    		                                   -16,000 -18,000 -19,000  -16,000 -17,000 -16,000 -26,000 -26,000 -6,000                                   
      change in fair value of warrant liability
    		                                             -1,304,000 67,000                                 
      accounts receivable – billed
    		                                      747,000 139,000 4,346,000 1,018,000 829,000                                     
      accounts receivable – unbilled
    		                                      1,266,000 361,000 1,698,000 -1,096,000 606,000                                     
      net cash received from acquisition
    		                                                                               
      proceeds from notes payable
    		                                                                               
      net proceeds from sales of common stock, net of offering costs of 11.9 million, 7.1 million and 6.1 million, respectively
    		                                                                               
      common stock issued in connection with acquisition
    		                                                                               
      cash paid with the novavax ab acquisition
    		                                          0                                     
      amortization of net premiums on investments
    		                                          186,000 -179,000 99,000                                   
      realized gains on investments
    		                                          0 0 -615,000                                   
      net cash received from novavax ab acquisition
    		                                                                               
      proceeds from sales and maturities of investments
    		                                                                               
      purchases of investments
    		                                          -56,096,000                                     
      net proceeds from sales of common stock, net of offering costs of 7.1 million and 6.1 million, respectively
    		                                                                               
      commons stock issued in connection with the novavax ab acquisition
    		                                                                               
      proceeds from maturities of investments
    		                                           2,850,000 10,590,000                                   
      net proceeds from sales of common stock, net of offering costs of 7.1 million and 0.3 million, respectively
    		                                                                               
      unbilled receivables
    		                                            -1,125,000 -1,186,000 -834,000                                 
      net proceeds from sales of common stock, net of offering costs of 0.2 million
    		                                                                               
      sale of common stock under the 2012 sales agreement not settled at quarter-end
    		                                                                               
      other non-cash income
    		                                                                               
      accounts receivables
    		                                             -1,815,000 37,000                                 
      net cash received from the isconova ab acquisition
    		                                                                               
      proceeds from maturities and redemptions of investments
    		                                                                               
      proceeds from settlement of notes receivable from former directors
    		                                                                               
      net proceeds from sales of common stock, net of offering costs of 6.1 million, 0.4 million and 0.2 million, respectively
    		                                                                               
      proceeds from the exercise of stock options
    		                                             59,000 56,000 10,000 349,000 64,000 757,000 0 35,000  112,000 102,000 35,000  0 701,000 40,000 179,000 798,000                 
      common stock issued in connection with the isconova ab acquisition
    		                                                                               
      deposit applied towards the purchase of equipment
    		                                                                               
      equipment acquired under a capital lease
    		                                                                               
      settlement of notes receivable from former directors
    		                                                                               
      sale of common stock under the 2010 sales agreement not settled at year-end
    		                                                                               
      amortization of net premiums on short-term investments
    		                                                                               
      impairment of property and equipment
    		                                               0                                
      loss of disposal of property and equipment
    		                                                                               
      prepaid expenses and other current assets
    		                                             -541,000 -95,000 104,000 246,000 597,000   -150,000    196,000   -54,000                    
      proceeds from maturities of short-term investments
    		                                             6,850,000 8,525,000 10,100,000   2,450,000 0 125,000  3,925,000 13,850,000 31,745,000  31,500,000                     
      purchases of short-term investments
    		                                             -583,000 -499,000 -13,346,000 -17,000 -14,182,000     0 0 -15,650,000  -13,507,000                     
      net cash from by investing activities
    		                                             6,130,000 7,985,000                                 
      net proceeds from sales of common stock, net of offering costs of 0.2 million and 0.4 million, respectively
    		                                                                               
      equipment purchases included in accounts payable
    		                                               -169,000 201,000 96,000 -79,000 37,000 47,000  415,000 -927,000 1,128,000                       
      settlement of notes receivable
    		                                                                               
      net income:
    		                                             -4,993,000 -7,453,000 -10,356,000 -9,426,000 -11,412,000         -8,966,000                     
      net proceeds from sales of common stock, net of offering costs of 0.2 million and 0.1 million, respectively
    		                                                                               
      amortization of short-term investments premium
    		                                              150,000                                 
      amortization of debt discount
    		                                                  -71,000 115,000 103,000  103,000 102,000 102,000                       
      amortization of deferred financing costs
    		                                                  77,000 81,000 64,000  52,000 64,000 65,000  65,000 315,000 65,000 147,000 270,000  103,000 103,000 103,000             
      impairment of short-term investments
    		                                                  -692,000 459,000 879,000                           
      realized gains on short-term investments
    		                                                                               
      accounts and other receivables
    		                                               -243,000 -125,000 27,000   216,000      -776,000                     
      net proceeds from sales of common stock, net of offering costs of 0.4 million and 1.0 million, respectively
    		                                                                               
      payment of notes payable through issuance of common stock
    		                                                                               
      amortization of short-term investments discount
    		                                                                               
      net proceeds from sales of common stock, net of offering costs of 0.1 million and 1.0 million, respectively
    		                                                                               
      less net income from discontinued operations
    		                                                                               
      net income from continuing operations
    		                                                  -7,530,000 -8,540,000 -8,349,000                           
      reconciliation of net income from continuing operations to net cash from operating activities:
    		                                                                               
      depreciation
    		                                                  297,000 308,000 294,000  161,000 211,000 209,000   747,000 737,000 724,000 713,000  666,000 718,000 708,000  573,000 545,000 484,000 148,000        
      reserve for notes receivable and accrued interest
    		                                                        194,000  -153,000                     
      loss and disposal of property and equipment
    		                                                  0                             
      impairment of long lived assets
    		                                                  0    148,000                         
      amortization of net discounts on short-term investments
    		                                                      -3,000 -31,000 -147,000  -558,000                     
      non-cash stock compensation
    		                                                  416,000 357,000 497,000  500,000 696,000 450,000  590,000 309,000 373,000 551,000 1,034,000  306,000               
      other assets
    		                                                                               
      net cash from operating activities from continuing operations
    		                                                  -6,417,000 -7,300,000 -6,727,000  -10,834,000 -1,249,000 -7,215,000                       
      net cash from operating activities from discontinued operations
    		                                                      416,000 -721,000 2,013,000                       
      proceeds from leasehold improvement allowance
    		                                                                               
      net cash from investing activities from continuing operations
    		                                                  2,262,000 -104,000 68,000  6,187,000 11,208,000 14,464,000                       
      net cash from investing activities from discontinued operations
    		                                                      0 220,000 1,134,000                       
      net proceeds from the sales of common stock, net of offering costs of 1.0 million and 0.4 million
    		                                                                               
      repayment of notes payable through issuance of common stock
    		                                                  2,560,000                             
      plus net income from discontinued operations
    		                                                                               
      net proceeds from the sales of common stock, net of offering costs of 1.0 million
    		                                                                               
      net cash provided (used in) by financing activities
    		                                                                               
      other non-current assets
    		                                                        -28,000    -3,000                   
      bank overdraft
    		                                                        579,000  309,000                     
      net cash (used in) financing activities
    		                                                    -650,000                           
      summary of cash flows:
    		                                                                               
      net cash provided by:
    		                                                                               
      operating activities
    		                                                                               
      investing activities
    		                                                                               
      financing activities
    		                                                                               
      amortization of intangible assets
    		                                                                               
      benefit from bad debts
    		                                                          -38,000 194,000 21,000 37,000 -141,000  -50,000 -9,000 21,000             
      reserve for notes and accrued interest receivable
    		                                                      -1,311,000                         
      loss on disposal of capital assets
    		                                                                               
      interest income correction of an error
    		                                                                               
      proceeds from the sale of common stock, net of issuance costs
    		                                                                               
      net cash from financing activities from discontinued operations
    		                                                                               
      debt discount from modification of convertible debt
    		                                                          0                     
      income from continuing operations
    		                                                       -8,314,000 -7,103,000                       
      retirement of capital assets
    		                                                       55,000 18,000   76,000 260,000    0               
      non-cash expense for services
    		                                                          0 0 0                   
      facility exit costs
    		                                                             -42,000 -42,000  190,000 -47,000 -38,000             
      purchase of treasury stock
    		                                                           -1,000                    
      conversion of convertible debt and accrued interest to common stock
    		                                                           0 0 0 7,068,000                 
      amortization
    		                                                           33,000 33,000 33,000 33,000  205,000 215,000 216,000  235,000 163,000 164,000 164,000        
      supplemental disclosures:
    		                                                                               
      reserve for note receivable and accrued interest
    		                                                                               
      gain on redemption of debt
    		                                                                               
      gain on sales of product assets
    		                                                                               
      net proceeds from sales of product assets
    		                                                                               
      net cash used by operating activities
    		                                                                       -3,302,000 -3,038,000       
      net proceeds from issuance of convertible notes
    		                                                                               
      net payments associated with king transaction
    		                                                                               
      principal payments on notes payables
    		                                                                               
      net proceeds from issuance of common stock
    		                                                           3,000                    
      net change in cash and cash equivalents
    		                                                             -5,340,000 52,048,000 24,949,000 2,502,000 -4,760,000 -8,674,000 -9,627,000 11,880,000 -6,262,000 -5,748,000 21,588,000 -3,580,000   -4,625,000 -8,297,000 5,042,000 -9,160,000 
      supplemental disclosure of non-cash transactions:
    		                                                                               
      financed insurance premiums
    		                                                                               
      treasury stock reissued for accrued interest to king
    		                                                                               
      cash paid for interest
    		                                                                               
      amortization of discounts/premiums on short-term investments
    		                                                                               
      reserve for non-current note and accrued interest receivable
    		                                                                               
      trade accounts receivable
    		                                                            679,000 -261,000 111,000  36,000 -498,000 180,000  1,403,000 -997,000 -401,000         
      purchases of investment securities
    		                                                                               
      proceeds from sale and maturity of investment securities
    		                                                                               
      decrease in cash and cash equivalents
    		                                                                               
      net cash provided by/(used in) financing activities
    		                                                                               
      non-cash transactions:
    		                                                                               
      cash interest payments:
    		                                                                               
      non-cash expense
    		                                                              25,000                 
      other non current assets
    		                                                                118,000 6,000 32,000  357,000 -278,000 -22,000         
      net cash provided/(used) in financing activities
    		                                                              56,603,000                 
      net cash (used) provided by:
    		                                                                               
      beginning cash and cash equivalents
    		                                                                               
      ending cash and cash equivalents
    		                                                                               
      gain on sale of product assets
    		                                                                               
      net proceeds from sale of product assets
    		                                                                               
      accounts payable and accrued expenses and other liabilities
    		                                                                               
      principal payments of capital lease obligations
    		                                                                -315,000 -309,000 -307,000             
      proceeds from exercise of stock options and warrants
    		                                                                               
      reconciliation of net income to net cash used by operating activities:
    		                                                                               
      benefit from bad debt
    		                                                                    116,000 16,000 43,000 118,000        
      deferred financing
    		                                                                    80,000 25,000 26,000         
      net proceeds from the issuance of convertible notes.
    		                                                                               
      net proceeds from equipment loans
    		                                                                        0       
      net cash from financing activities.
    		                                                                               
      principal payments of notes and capital lease obligations
    		                                                                     -399,000 -334,000         
      proceeds from sales of common stock
    		                                                                     305,000 64,000         
      loss on disposal/sale of asset
    		                                                                               
      deferred rent expense
    		                                                                       10,000        
      acquisition of product lines
    		                                                                               
      borrowing of long-term debt
    		                                                                               
      payment of capital lease obligations
    		                                                                       -66,000        
      proceeds from the exercise of stock options and warrants
    		                                                                       86,000 69,000       
      non-cash transactions
    		                                                                               
      cashless stock option exercises
    		                                                                               
      net cash used by investing activities
    		                                                                        -583,000       
      proceeds from the issuance of convertible notes
    		                                                                               
      deferred financing costs
    		                                                                        27,000       
      proceeds from private placements of common stock
    		                                                                        0       
      payments of capital lease obligations
    		                                                                               
      non-cash compensation expense
    		                                                                               
      non-cash net interest
    		                                                                               
      acquisition of businesses, net of cash acquired
    		                                                                               
      deferred patent costs
    		                                                                               
      adjustments to reconcile net income to net cash used by
    		                                                                               
      adjustments to reconcile net income to net cash used by operating activities:
    		                                                                               
      acquisition of product line
    		                                                                               
    The information provided in this report is taken from www.sec.gov and many other data providers. While we have conducted our best efforts to ensure that the parsed data is accurate, we cannot guarantee its accuracy. Please use caution and understand that any consequences of its use are your own responsibility.