Vaxart Provides an Update on Proxy Voting and Urges All Stockholders of Record as of April 11, 2022 to Vote by July 5, 2022, at 11:59 p.m. ET
July 01 2022 - 9:00AM
Vaxart, Inc. (Nasdaq: VXRT) today urges its stockholders of
record on April 11, 2022, to vote on its proxy if they have not yet
done so. The Company urges a yes vote on all Proxy Proposals,
including Proxy Proposal #2, and reminds those who have voted
against that they can change their vote in favor of the proposal
before the voting deadline. 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.
“We strongly urge shareholders to vote before
the July 5, 2022 deadline,” said Andrei Floroiu, Vaxart Chief
Executive Officer. “Proposal #2 will give us the flexibility to
continue to be thoughtful and opportunistic in raising capital so
we can fund the business, maintain a strong balance sheet as we
progress our programs, make us a more attractive partner to
governments and put us in a stronger competitive position. I join
our Board of Directors in stating that we believe the approval of
Proposal #2 would allow us the best options to raise the capital
needed to accelerate our promising pipeline.”
“Proposal #2 is favored by a large majority of
voting shares - 76% of those present have voted in favor – three
million of which were additional shares voted in favor of Proposal
#2 after our Investor Q&A webcast on June 22nd when we
explained how Proposal #2 benefits the company and its
shareholders, and we thank them for their vote,” said Mr. Floroiu.
“For Proposal #2 to pass, it is not enough that a majority of
voting shares are in favor, as the votes in favor must also
represent more than 50% of all outstanding shares. We are close to
achieving that, but to do so more shareholders need to vote in
favor.”
A recording of the Investor Q&A webcast can
be found here, and a transcript from the webcast can be found
here.
Both leading independent proxy advisory firms,
Institutional Shareholder Services (“ISS”) and Glass Lewis,
recommend that shareholders support Proposal #2. More details on
Proposal #2 can be found on the Investor FAQ page here.
Vaxart’s 2022 Annual Meeting of Stockholders was
adjourned to Wednesday, July 6, 2022, at 12:30 p.m. Eastern Time.
Stockholders of record on April 11, 2022, may vote their shares or
change their votes in favor of Proxy Proposal #2 if their ballots
are cast by the deadline of Tuesday, July 5, 2022, at 11:59 p.m.
Eastern Time.
Stockholders of record on April 11, 2022, are
encouraged to vote over the internet at (1)
http://www.proxyvote.com, (2) by telephone by calling the toll-free
number (800) 690-6903, or (3) if you elected to receive printed
proxy materials by mail, by marking, dating, and signing your proxy
card and returning it in the accompanying postage-paid
envelope.
Vaxart stockholders who need assistance in
voting their shares may contact Vaxart’s proxy solicitor MORROW
SODALI by email at Vxrt.info@investor.morrowsodali.com or by phone
at (203) 658-9400 or (800) 662-5200 (Toll-Free).
Stockholders of Vaxart are also urged to read
the definitive proxy statement on Schedule 14A filed by Vaxart with
the SEC on April 28, 2022, and all other relevant documents filed
with the SEC for important information about Proposal #2 and the
other proposals to be voted on at the annual meeting.
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.
Note Regarding Forward-Looking
StatementsThis 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 Vaxart's strategy,
prospects, plans and objectives, results from preclinical and
clinical trials, commercialization agreements and licenses, and
beliefs and expectations of management are forward-looking
statements. These forward-looking statements may be accompanied by
such words as "should," "believe," "could," "potential," "will,"
"expected," “anticipate,” "plan," and other words and terms of
similar meaning. Examples of such statements include, but are not
limited to, statements relating to Vaxart's ability to
develop and commercialize its product candidates, including its
vaccine booster products; Vaxart's expectations regarding
clinical results and trial data; and Vaxart's expectations
with respect to the effectiveness of its product
candidates. Vaxart may not actually achieve the plans,
carry out the intentions, or meet the expectations or projections
disclosed in the 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 important factors could cause
actual results or events to differ materially from the
forward-looking statements that Vaxart makes, including
uncertainties inherent in research and development, including the
ability to meet anticipated clinical endpoints, commencement,
and/or completion dates for clinical trials, regulatory submission
dates, regulatory approval dates, and/or launch dates, as well as
the possibility of unfavorable new clinical data and further
analyses of existing clinical data; the risk that clinical trial
data are subject to differing interpretations and assessments by
regulatory authorities; whether regulatory authorities will be
satisfied with the design of and results from the clinical studies;
decisions by regulatory authorities impacting labeling,
manufacturing processes, and safety that could affect the
availability or commercial potential of any product candidate,
including the possibility 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
a Vaxart collaborator may not attain development and
commercial milestones; that Vaxart or its partners may
experience manufacturing issues and delays due to events within, or
outside of, Vaxart's or its partners' control;
difficulties in production, particularly in scaling up initial
production, including difficulties with production costs and
yields, quality control, including stability of the product
candidate and quality assurance testing, shortages of qualified
personnel or key raw materials, and compliance with strictly
enforced federal, state, and foreign regulations;
that Vaxart may not be able to obtain, maintain, and
enforce necessary patent and other intellectual property
protection; that Vaxart's capital resources may be
inadequate; Vaxart's ability to resolve pending legal
matters; Vaxart's ability to obtain sufficient capital to
fund its operations on terms acceptable to Vaxart, if at all;
the impact of government healthcare proposals and policies;
competitive factors; 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.
Contacts
Vaxart Media
Relations: |
Investor
Relations: |
Mark Herr |
Andrew Blazier |
Vaxart,
Inc. |
FINN Partners |
mherr@vaxart.com |
IR@vaxart.com |
(203) 517-8957 |
(646)
871-8486 |
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