By Sneha S K and Sriparna Roy

(Reuters) -Shah Capital, Novavax’s second-largest shareholder, is pressing the biotech’s board to pursue strategic changes, including a potential sale, and warned it could launch a proxy fight if no progress is made in the next four months.

In a second letter to Novavax’s board in less than a month, shared exclusively with Reuters on Wednesday, Shah Capital said it has become “increasingly disenchanted” with the company’s weak COVID-19 vaccine sales.

“If I don’t see changes happening, and if the company doesn’t follow through in the next four months, then I think that is definitely a potential for a proxy fight,” hedge fund founder Himanshu Shah said in an interview.

The fund said it still believes in Novavax’s science and has increased its stake to about

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