On May 20, 2024, Shah Capital Management Inc announced that in light of recent developments at the Novavax Inc, it has determined to withdraw its preliminary proxy statement and campaign against the re-election of the Class II directors at the Company?s annual meeting, and Shah Capital Management stated that it has long advocated for the Company to explore potential strategic partnership opportunities and believe that the Company?s recent announcement of its entry into a co-exclusive licensing agreement with Sanofi is a long-awaited step in the right direction. In addition, Shah Capital Management stated that intend to continue to closely monitor the Company, including its operations, capital allocation decisions and strategic direction, as it believes significant additional value remains to be unlocked at the Company.