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Vaxart Answers Additional Frequently Asked Questions from Retail Investors
Globenewswire· 2025-05-28 12:00
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 Appoints Jeroen Grasman as Chief Financial Officer
GlobeNewswire News Room· 2025-05-13 20:01
Company Overview - Vaxart, Inc. is a clinical-stage biotechnology company focused on developing oral recombinant vaccines using a proprietary delivery platform [3] - The company's vaccines are designed to be administered in pill form, which can be stored and shipped without refrigeration, thus eliminating the risk of needle-stick injuries [3] Leadership Change - Jeroen Grasman has been appointed as the Chief Financial Officer (CFO) of Vaxart, effective May 19, 2025, succeeding Phillip Lee, who is resigning for personal reasons [1][2] - Mr. Grasman brings over 20 years of financial leadership experience in the biotech sector, having previously served as CFO at AltruBio and held senior positions at PACT Pharma and Intarcia Therapeutics [2] Strategic Focus - The company aims to advance its oral pill vaccine programs, leveraging Mr. Grasman's extensive financial expertise and operational acumen [2] - Vaxart's development pipeline includes vaccines targeting coronavirus, norovirus, influenza, and a therapeutic vaccine for human papillomavirus (HPV) [3]