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Vaxart, Inc.
5/8/2026
Greetings and welcome to the VaxArt Stockholder Fireside Chat Conference Call. A question and answer session will follow management's opening remarks. Individual investors may submit written questions via the webcast portal. As a reminder, this conference is being recorded. I would now like to turn the webcast over to David Carey of FinPartners.
Thank you, Operator. Good afternoon and welcome to today's call. Joining us from VaxArt are Steve Lowe, Chief Executive Officer, Dr. Sean Tucker, Founder and Chief Scientific Officer, Dr. James Cummings, Chief Medical Officer, Jerome Grassman, Chief Financial Officer, and Ed Berg, Senior Vice President and General Counsel. Before we begin, I would like to remind everyone that during this conference call, VaxArt may make forward-looking statements, including statements about the company's financial results, financial guidance, its future business strategies and operations, any partnerships with third parties, timing of any anticipated regulatory approvals or that any such approvals will be obtained, the company's future cash runway, ability to regain compliance with NASDAQ listing standards or raise capital if such listing is regained, and its product development and regulatory process, including statements about its ongoing or planned clinical trials. Actual results could materially differ from those discussed in these forward-looking statements, due to a number of important factors, including uncertainty inherent in the clinical development and regulatory process and other risks described in the risk factors section of VACCART's most recently filed annual report on Form 10-K and also in other public periodic reports filed with the SEC. VACCART undertakes no obligation to update any forward-looking statements after the date of this call. I'll now turn the call over to Steve Demlow. Steve?
Thanks, David. Good afternoon, everyone, and thank you for joining us. In the first quarter, we made meaningful progress advancing our clinical programs and preparing for key data milestones that we believe will help demonstrate the value of our oral vaccine platform. Beyond preparing our COVID-19 program for its upcoming readout, we have also spent the last few months strengthening our financial position and streamlining our operations to support disciplined execution and extend our runway. Specifically, our work during the first quarter was focused on the steps needed to disclose data from the 400-person Sentinel cohort of our Phase IIb COVID-19 trial. This cohort is an important part of our program. providing our first 12-month look at the safety, select efficacy measures, and mucosal immune response of our oral vaccine candidate in a head-to-head study. We are currently working through the data reconciliation process required to complete the analysis and move toward a top-line readout. This effort is backed by a strong commitment from our partners at BARDA. To further strengthen our board, and add clinical and strategic oversight, we were pleased to welcome Dr. James Breitmaier to our Board of Directors in April. Jim is a veteran of drug development who has successfully led multiple candidates through complex clinical and regulatory pathways. He brings more than 35 years of biopharmaceutical experience, including leadership of programs resulting in multiple FDA approvals and global regulatory successes. As part of our ongoing commitment to board refreshment, with the addition of Dr. Breitmaier, we have added two new directors with significant drug and business development expertise over the past two years to strengthen the addition of fresh perspectives. We believe that adding directors with these proven track records is a significant advantage as we approach our upcoming data catalysts. On the operational side, we completed our headquarters move in April, consolidating and reducing our footprint, and also established a $25 million share purchase agreement with Lincoln Park Capital. No shares have been sold to date, and the use of this purchase agreement is subject to the company's discretion. These steps are part of our ongoing effort to maintain a lean operation, provide financial flexibility, and position us to direct our capital toward our core drug development programs. Finally, we continue to maintain a productive dialogue with the team at Sanofi as we advance our COVID-19 program. I'll turn the call over to James now to update you on where we stand with the COVID-19 trial. James?
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