Core Viewpoint - Vaxart, Inc. is urging stockholders to vote in favor of a reverse stock split proposal to maintain compliance with Nasdaq listing requirements, with a deadline for voting set for June 1, 2025 [1][16]. Group 1: Reverse Stock Split Proposal - The Board of Directors adjourned the Annual Meeting to give stockholders more time to understand the implications of the reverse stock split, especially in light of a potential delisting from Nasdaq [2]. - The reverse stock split is proposed to help regain compliance with Nasdaq's minimum bid price requirement, with a high end of 1-for-20 split ratio being considered [4]. - A proportional reduction in authorized shares will be proposed alongside the reverse stock split to align with investor feedback [3]. Group 2: Financial Strategy and Capital Raising - Vaxart raised $40 million through an underwritten offering to extend its cash runway, as its previous cash guidance was less than six months [8]. - The company has been proactive in exploring partnerships to avoid dilutive financings, although more data is needed to advance discussions [11]. Group 3: Operational Updates and Future Plans - Vaxart is advancing multiple clinical programs, including norovirus and COVID-19 vaccines, which are expected to drive investor interest [5]. - The company has filed broad patent applications for its oral vaccine technology, which is designed to be administered in pill form [17].
Vaxart Answers Additional Frequently Asked Questions from Retail Investors