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Hedge fund Shah Capital urges board shake-up at Novavax over struggling Covid vaccine, FT reports
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Hedge fund Shah Capital urges board shake-up at Novavax over struggling Covid vaccine, FT reports
Apr 14, 2024 9:29 PM

April 15 (Reuters) - U.S.-based hedge fund Shah Capital

wrote to the Novavax ( NVAX ) board on Monday to push for the instalment

of two new independent board directors, the Financial Times

reported on Monday.

Shah Capital also wants a pivot in the biotech company's

sales strategy for its Covid-19 shot, which is based on

traditional vaccine technology, to target older people unnerved

by rare side effects associated with mRNA jabs from Pfizer and

Moderna, FT reported citing a letter.

(Reporting by Disha Mishra in Bengaluru; Editing by Mrigank

Dhaniwala)

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