SinoVac Biotech Shares Stalled

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Seeking a Cure for Sickly Corporate Governance at SinoVac

Summary

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Chinese SinoVac Biotech Ltd. (Nasdaq: SVA) shares have been frozen since 2019 amid shareholder disputes.

Company developed wildly successful Covid vaccine and has over $10 billion in cash on balance sheet.

Current board is fending off a competing slate of directors supported by the founder/CEO along with large investors representing over 31% of shares outstanding.

Shareholders will decide on whether to keep or replace board at a meeting on July 8 .

The current board has eroded down to just four members after multiple departures.

Pengfei Li was sentenced to prison after charges including embezzlement and forging government documents and seals related to his attempt to seize control of a SinoVac subsidiary.

Professor Elson noted that the company has performed well with a highly successful drug and that its operations aren’t the concern at hand.

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