Welcome latest bulletins Novavax (Nasdaq: ) licensing settlement Sanofi (NASDAQ: )
Highlights that Novavax nonetheless has a whole lot of worth to be unlocked
Nonetheless assured Novavax will profit from the addition of shareholder representatives
RALEIGH, N.C., Might 20, 2024 (GLOBE NEWSWIRE) — Shah Capital Administration, Inc. (along with its associates Shah Capital, us or ours) collectively beneficially owns roughly 7.9% of the excellent shares of Novavax, Inc. (NASDAQ: NVAX) (Novavax or the Firm), making it High three and largest non-index shareholdersat the moment issued the next assertion to shareholders concerning its anticipated efforts at its 2024 Annual Assembly of Stockholders (2024 Annual Assembly) scheduled for Thursday, June 13, 2024, at 8:30 a.m. ET:
Expensive Novavax shareholders:
As long-term strategic traders, we have now been engaged with the Novavax Board of Administrators (Board of Administrators) for over a 12 months in an try to unlock worth on behalf of all of its shareholders, so it’s thrilling that our actions have begun to yield constructive outcomes. Now we have lengthy advocated for Novavax to discover potential strategic collaboration alternatives and imagine the corporate’s latest announcement of a co-exclusive licensing settlement with Sanofi is a long-awaited step in the proper route.
Sadly, nonetheless, it was our actions that prompted the board to take motion. We imagine the board presided over a variety of big strategic errors, together with an enormous advertising and marketing failure within the 2023-2024 season, the shortcoming of money and time to put money into synthetic intelligence know-how to successfully enhance vaccine analysis efforts, questionable regulatory administration and continued working losses in 2023 and 2023. Massive-scale issuance of dilutive shares at low costs. It takes time to place the cuts in place.
Nevertheless, we do acknowledge that good progress is now lastly being made, which is why we have now determined to withdraw our proxy marketing campaign in opposition to Novavax’s re-election of administrators at its 2024 annual assembly. However that doesn’t imply our collaboration ends right here. We’ll proceed to maintain an in depth eye on the corporate, together with its operations and particularly advertising and marketing, as we imagine there’s nonetheless loads of further worth to be unlocked in Novavax.
We additionally proceed to imagine Novavax would profit from including a shareholder consultant to the board, which is without doubt one of the essential causes we predict the corporate ended up in such dangerous form and it is essential to handle this subject.
We additionally reiterate our place that Novavax should pursue an aggressive, patient-driven gross sales and advertising and marketing technique that leverages the quite a few peer-reviewed scientific papers exhibiting inferior efficacy and security of competing vaccines.
On the coronary heart of our exercise is our hope that Novavax’s household of scientifically confirmed protein vaccines will play a big function globally, resulting in continued worthwhile progress, and we are going to comply with their progress intently. We’re grateful to the hundreds of shareholders who supported Shah Capital’s marketing campaign and shared with us their considerations in regards to the route of the corporate. Collectively we assist Novavax obtain actual change.
Sincerely,
Shah Capital Administration
About Shah Capital:
Shah Capital is a world funding agency with a targeted funding philosophy that emphasizes turnarounds and particular conditions.
Media contact:
| Citigate Dewe RogersonShah Capital Workforce | shahcapital@citigatedewrogerson.com |
Supply: Shah Capital
