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0.000599520383693139 0 -0.00419664268585134 0.00119904076738607 -0.0053956834532374 -0.0089928057553956 -0.0053956834532374 -0.00779376498800953
Stock impact report

Shah Capital intends to vote against Novavax's board nominees, executive compensation [Yahoo! Finance]

Novavax, Inc. (NVAX) 
Last novavax, inc. earnings: 3/11 04:17 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.novavax.com/investor-relations
Company Research Source: Yahoo! Finance
and ?the executive compensation package at Novavax's upcoming annual meeting, renewing ?pressure for changes at the vaccine maker. In a letter to the company on Wednesday, ?hedge fund founder Himanshu Shah said management has failed to implement aggressive cost-cutting measures and urged leadership to reduce costs and opportunistically buy back 10–20 million shares. Shah Capital, which owns 9% of Novavax and is its second-largest ?shareholder, has been pushing the ?biotech's board to pursue strategic changes, including a potential sale. The firm wants a like-minded strategic long-term investor to ?take a 10–20% ownership stake to reshape the company. In the letter, shared exclusively with Reuters, the investment firm said the partnership with Sanofi has not ?benefited Novavax. "We ?are both surprised and frustrated" by ?Sanofi's continued delay in launching ?late-stage results for the COVID/influenza combo vaccine, a market worth more than $5 billion, Shah said. CALLS FOR Show less Read more
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