Vaxart Stockholders Approve Proxy Proposals 2, 3 and 4
August 05 2022 - 8:00AM
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.
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 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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