Novavax Says Company Is Aligned With Activist Investor on Measures Including Major Cost Cuts

Dow Jones

2025/04/29

By Roshan Fernandez

Novavax said the company is aligned with activist investor Shah Capital on a variety of initiatives, which include significant cost reductions and company reshaping.

Shah Capital holds approximately 7% of Novavax shares and pledged formal support for the Gaithersburg, Md.-based biotechnology company's board of directors. Novavax was previously under pressure after the investment firm felt Covid-19 sales were falling short.

The company said it continues to advance its growth strategy, and it appreciated collaborative input from both Shah and other long-term investors.

"We have always welcomed the beneficial perspectives of all our shareholders and appreciate the shared belief in the tremendous promise of Novavax's technology and the value it can bring to the healthcare landscape globally," the company said in a statement.

Write to Roshan Fernandez at roshan.fernandez@wsj.com

(END) Dow Jones Newswires

April 28, 2025 18:04 ET (22:04 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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