Vaxart : The Importance of T-cell Responses for COVID-19 Vaccines by Dr Sean Tucker

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KOL Event

U N L O C K I N G T H E F U L L P O T E N T I A L O F O R A L V A C C I N E S

Forward-Looking Statement

This presentation contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this presentation regarding Vaxart's strategy, prospects, plans and objectives, results from preclinical and clinical trials, commercialization agreements and licenses, beliefs and expectations of management are forward-looking statements. These forward-looking statements may be accompanied by such words as "believe," "could," "potential," "expect," "will" 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; expected clinical results and trial data (including plans with respect to the proposed COVID-19 vaccine program); Vaxart's intention to continue its efforts to advance its oral tablet seasonal flu vaccine; Vaxart's expectations with respect to the important advantages it believes its oral vaccine platform can offer over injectable alternatives, particularly for mucosal pathogens such as norovirus, flu and RSV, as well as coronaviruses such as SARS, MERS and COVID-19; and Vaxart's expectations with regard to the vaccination market. 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, including the recent outbreak of COVID-19; that Vaxart or its partners 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 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.

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CONFIDENTIAL AND PROPRIETARY |

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Oral Vaccines Based on VAAST Platform

Selected Mucosal Adjuvant "Hard Wired" in Vector Delivery System

Non-replicating adenovirus with molecular adjuvant

ORAL VACCINES OFFERS IMPORTANT

ADVANTAGES

• Potentially disruptive impact across vaccine supply chain
• • Room temperature stable tablets
  • Ease of distribution
• Allows increased vaccination rates
• • Ease of administration
  • Patient acceptance

INNOVATIVE PLATFORM FOR

SYSTEMIC AND LOCAL IMMUNITY

• Designed for wide range of recombinant antigens
• Local immunity is potential key differentiator
• • Protection at the mucosa of the gastrointestinal, respiratory tract
  • First line of Defense

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VAAST Oral Vaccines - Validated Platform In Humans

Approximately 500 Subjects Dosed to Date

Clinical Trials

Tablet Vaccines

Purpose:

• Safety
• Immunogenicity
• Dose ranging
• Efficacy

	Flu	RSV	Norovirus	COVID-19
SUBJECTS	245	46	171	35
DOSED
SAFETY

Favorable safety and tolerability profile

EFFICACY

Reduction in influenza illness comparable with the leading marketed quadrivalent intramuscular influenza vaccine

BROAD IMMUNE RESPONSES

Serum neutralizing antibodies (IgG), Systemic T cell responses

MUCOSAL HOMING CELLS

T cells, IgA positive B cells

Liebowitz, et al, Lancet ID, 2020

Kim, et al, JCI Insights, 2018

Kim, et al, Sci Reports, 2016

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Vaxart - COVID Vaccine Issues

• Covid-19is a significant health problem. Vaccines can be highly effective against the original parental strain
• Several limitations for roll-out of a needle solution during a pandemic
• • Need a qualified health care provider to administer
  • The first vaccines approved need to be kept frozen
  • We are all supposed to sequester and avoid contact
  • All of this make the process of creating long-term herd immunity challenging
• New coronavirus variants are appearing that may be able to circumvent vaccine induced immunity
• • Vaccine manufacturers have announced that they are making strain matched vaccines to address the potential variants
  • Can a cross-reactive vaccine be made to allow for better protection against future variants?

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