Shah Capital recommends to appoint two new directors to Novavax board

Shah Capital, which owns approximately 6.7% of the outstanding common stock of Novavax, has issued an statement saying: “As a long-term strategic investor in Novavax, Shah Capital has been deeply disappointed in its performance and the failure of its leadership to realize shareholder value reflective of Novavax’s significant competitive advantages and sizeable market opportunity. Over a period of more than a year, Shah Capital has engaged repeatedly with the board and made several suggestions aimed at addressing self-inflicted problems which have undermined the success and sustainability of the company. However, the board has regrettably been unresponsive. Following this subsequent inaction by Novavax, which is now trading at a near record low and is one of the most shorted stocks on the Nasdaq, Shah Capital has been forced to make public its concerns and call for leadership change. Recognizing this pressing need for Novavax to offer the investment community a more proactive and innovative strategy, Shah Capital is strongly recommending the appointment to the board of two new independent directors: Suresh Katta, founder of Saama and CEO of the company for 25 years, and Venkat Peri, CEO of Quantiva Health a healthcare company that is putting AI and advanced computational sciences at the intersection of medicine, biology, and healthcare economics”