Vaxart (VXRT) H.C. Wainwright 28th Annual Global Investment Conference summary

Platform innovation and vision

• Oral recombinant vaccine platform targets COVID-19, norovirus, and influenza, offering modularity, thermostability, and self-administration, eliminating cold chain and clinic visits.

• Platform induces both systemic and mucosal immunity, potentially providing broader protection than injectables.

• Over 3,880 subjects dosed across studies with a benign safety profile and U.S.-based manufacturing.

• Vision includes home delivery of vaccines, increasing convenience and accessibility through oral, self-administered pills.

• Modular VAASTⓇ technology supports multiple indications and broad applicability.

COVID-19 program and clinical data

• BARDA-funded Phase IIb trial fully enrolled with ~5,400 subjects; main efficacy readout expected in H1 2027.

• Sentinel safety cohort (400 subjects) showed no vaccine-related serious adverse events and lower systemic reactogenicity than mRNA comparator.

• Oral vaccine arm had no injection site reactions and favorable tolerability compared to mRNA vaccine.

• Sanofi holds exclusive worldwide license, with up to $670 million in milestones and royalties, contingent on phase IIb results.

• COVID-19 market remains significant globally, with opportunity for oral alternatives, especially among those declining injectables.

Norovirus and influenza pipeline

• Second-generation norovirus vaccine candidate showed +164% (GI.1) and +114% (GII.4) increases in neutralizing antibodies and is ready for phase II pending investment or partnership.

• Norovirus causes 22 million U.S. cases and $10.6 billion annual burden, with no approved vaccines.

• Influenza oral pill vaccine was at least as protective as a leading injectable in Phase II challenge, with reduced shedding and favorable safety.

• Avian flu (H5N1) program showed 100% survival in animal model.

• Eight completed norovirus clinical trials inform future study design.