Vaxart (VXRT) Corporate Presentation summary

Transformative oral vaccine platform

• Oral pill vaccine platform induces both systemic and mucosal immunity, potentially offering broader protection than injectable vaccines and simplifying distribution due to thermostability.

• Self-administration at home and benign safety profile demonstrated in over 1,100 participants dosed to date.

• Platform leverages a modular VAAST system, enabling rapid adaptation to multiple pathogens.

Strategic partnerships and financial outlook

• Dynavax partnership includes $25M upfront, $5M equity, and up to $670M in milestones and royalties, with Dynavax assuming development post-Phase 2b.

• BARDA-funded Phase 2b COVID-19 trial provides head-to-head efficacy data versus mRNA vaccines.

• Cash runway extended into Q2 2027, with further clinical milestones anticipated across COVID-19, norovirus, and influenza programs.

Clinical pipeline and efficacy data

• Broad pipeline includes COVID-19, norovirus, influenza, and HPV programs, with multiple candidates in Phase 2 or beyond.

• COVID-19 oral vaccine in Phase 2b head-to-head trial against mRNA comparator, with ~5,400 subjects enrolled and 12-month efficacy data expected in late 2026.

• Norovirus program demonstrated significant reductions in infection and viral shedding; second-generation candidate showed 141% and 94% increases in neutralizing antibodies for GI.1 and GII.4, respectively.

• Influenza oral vaccine showed at least comparable protection to market-leading injectable in Phase 2, with reduced viral shedding and favorable safety.

• Avian flu (H5N1) candidate provided 100% survival in animal challenge model.