Vaxart Announces Closing of Registered Direct Offering of Common Stock
March 20 2019 - 4:01PM
Business Wire
Vaxart, Inc., a clinical-stage biotechnology company developing
oral recombinant vaccines that are administered by tablet rather
than by injection, today announced the closing of its previously
announced registered direct offering of 1,200,000 shares of its
common stock at a price of $2.50 per share. Total gross proceeds
from the offering were $3.0 million, before deducting placement
agent fees and estimated offering expenses.
H.C. Wainwright & Co. acted as the exclusive lead placement
agent for the offering. Brookline Capital Markets, a division of
CIM Securities, LLC, acted as the co-placement agent for the
offering.
The securities described above were offered by Vaxart pursuant
to a registration statement on Form S-3 (File No. 333-228910)
previously filed with and subsequently declared effective by the
Securities and Exchange Commission (SEC) on March 15, 2019. A
prospectus supplement and accompanying base prospectus relating to
the shares of common stock offered were filed with the SEC on March
20, 2019. Copies of the prospectus supplement and accompanying base
prospectus may be obtained on the SEC's website at
http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC
at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at
646-975-6996 or e-mail at placements@hcwco.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction
About Vaxart
Vaxart is a clinical-stage biotechnology company focused on
developing oral recombinant protein vaccines based on its
proprietary oral vaccine platform. Vaxart’s vaccines are designed
to generate broad and durable immune responses that protect against
a wide range of infectious diseases and may also be useful for the
treatment of chronic viral infections and cancer. Vaxart’s vaccines
are administered using a convenient room temperature-stable tablet,
rather than by injection. Vaxart believes that tableted vaccines
are easier to distribute and administer than injectable vaccines
and have the potential to significantly increase vaccination rates.
Vaxart’s development programs include oral tablet vaccines that are
designed to protect against norovirus, seasonal influenza and
respiratory syncytial virus (RSV), as well as a therapeutic vaccine
for human papillomavirus (HPV).
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that
involve substantial risks and uncertainties. All statements, other
than statements of historical facts, included in this press release
regarding our strategy, prospects, plans and objectives, results
from preclinical and clinical trials, commercialization agreements
and licenses, beliefs and expectations of management are
forward-looking statements. These forward-looking statements may be
accompanied by such words as “believe,” “could,” “potential,”
“will” and other words and terms of similar meaning. Examples of
such statements include, but are not limited to, statements
relating to the Vaxart’s ability to develop and commercialize its
product candidates and clinical results and trial data; the
expected timing of the initiation of the Phase 1 bivalent study and
Phase 2 monovalent challenge study; and Vaxart’s expectations with
respect to the advantages it believes its oral vaccine platform can
offer over injectable alternatives, particularly for mucosal
pathogens such as norovirus, flu and RSV. Vaxart may not actually
achieve the plans, carry out the intentions or meet the
expectations or projections disclosed in our forward-looking
statements and you should not place undue reliance on these
forward-looking statements. Actual results or events could differ
materially from the plans, intentions, expectations and projections
disclosed in the forward-looking statements. Various factors could
cause actual results or events to differ materially from these
forward-looking statements, including Vaxart’s ability to raise
sufficient capital to fund the continued development of its product
candidates and complete its planned studies and trials, that
Vaxart’s product candidates may not be approved by the FDA or
non-U.S. regulatory authorities; that, even if approved by the FDA
or non-U.S. regulatory authorities, Vaxart’s product candidates may
not achieve broad market acceptance; that Vaxart may experience
manufacturing issues and delays; and other risks described in the
“Risk Factors” sections of Vaxart’s Quarterly and Annual Reports
filed with the SEC. Vaxart does not assume any obligation to update
any forward-looking statements, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20190320005727/en/
Carl MauchStern Investor
Relations212-362-1200vaxart@sternir.com
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