Vaxart Stockholders Approve Proxy Proposals 2, 3 and 4

All six proposals approved in the 2022 Proxy Statement

Vote strengthens the Company as it progresses its oral vaccine programs

SOUTH SAN FRANCISCO, Calif., Aug. 05, 2022 (GLOBE NEWSWIRE) -- Vaxart, Inc. (Nasdaq: VXRT) announced today that at its reconvened Annual Meeting of Stockholders on August 4, its stockholders had voted to approve Proposals 2, 3 and 4.

Proposal 2 is an amendment to the Company’s Restated Certificate of Incorporation to increase the authorized number of shares of its common stock to 250 million shares. Proposal 3 involved an Amendment and Restatement of the 2019 Equity Incentive Plan. Proposal 4 sought stockholder approval for the 2022 Employee Stock Purchase Plan. Proposals 3 and 4 were contingent on the passage of Proposal 2.

While Proposal 2 had previously received strong support from voting stockholders at the initial annual meeting in June, the votes in support of this proposal had not surpassed the 50% of outstanding shares required for it to pass.

In the tally Vaxart announced yesterday, Proposal 2 was supported by 82% of the voting shares, with the votes in favor totaling 1.5 million more than the 50% of outstanding shares required for it to pass.

"Since our last adjournment, Proposal 2 received 3.4 million additional votes in favor from our investors around the world," said Andrei Floroiu, Chief Executive Officer. "After speaking to many of our investors over the past two months, we have been energized by how passionately they believe in what Vaxart is trying to achieve. 

"I want to thank our stockholders for their support and passion, as well as their strong vote of confidence in our goals and Vaxart’s team."

With the passage of Proposals 2, 3 and 4, Vaxart’s stockholders have approved all six of the 2022 Proposals described in Vaxart’s 2022 Proxy Statement for the Annual Meeting. The Company announced in June that stockholders had approved Proposals 1, 5 and 6.

About Vaxart

Vaxart is a clinical-stage biotechnology company developing a range of oral recombinant vaccines based on its proprietary delivery platform. Vaxart vaccines are designed to be administered using tablets that can be stored and shipped without refrigeration and eliminate the risk of needle-stick injury. Vaxart believes that its proprietary tablet vaccine delivery platform is suitable to deliver recombinant vaccines, positioning the company to develop oral versions of currently marketed vaccines and to design recombinant vaccines for new indications. Vaxart’s development programs currently include tablet vaccines designed to protect against coronavirus, norovirus, seasonal influenza, and respiratory syncytial virus (RSV), as well as a therapeutic vaccine for human papillomavirus (HPV), Vaxart’s first immune-oncology indication. Vaxart has filed broad domestic and international patent applications covering its proprietary technology and creations for oral vaccination using adenovirus and TLR3 agonists.