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Vaxart Inc
8/7/2026
Paul. Paul.
Steve Lo, Chief Executive Officer, Dr. Sean Tucker, Founder and Chief Scientific Officer, Dr. James F. Cummings, Chief Medical Officer, Jeroen Grasman, 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 approval will be obtained, the company's future cash runway, ability to raise capital, and its product development and regulatory progress, 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 risk factors described in the risk factors section of VACCART's most recently filed annual report on Form 10-K and periodic reports filed with the FCC. VACCART members take no obligation to update any forward-looking statements after the date of this call. I'll now turn the call over to Steven Lo. Steve?
Thanks, David. Good afternoon, everyone, and thank you for joining us. The second quarter and recent weeks marked a pivotal period of execution and progress for Vax5. In July, we achieved a key milestone in our Phase 2b COVID-19 trial, announcing positive 12-month safety data from our Sentinel cohort. These results provided encouraging validation for the safety of our oral pill platform as we prepared to report top-line data from the approximately 5,000 participant main cohort in the first half of 2027. We were able to release this data after we finalized a contract modification with our partners at BARDA in June, which also released dedicated funding that will allow us to conduct a much deeper scientific analysis of the trial data. I want to express my sincere appreciation to our hardworking employees at Backstart and the trial participants clinical investigators, and study coordinators across all our sites. The dedication of these participants and the research teams in executing a trial of this scale and advancing our needle-free vaccine makes our progress possible. From a business development standpoint, we are continuing to seek a partnership for our Norovirus program and have seen continued partner interest. We are taking a disciplined approach to these discussions to ensure any next steps reflect the full value of this asset in the best interest of our shareholders. Right now, it is critical for us to focus on completing the Phase 2B COVID-19 trial, which represents our most immediate value driver. In addition to our clinical momentum, we have taken important actions to enhance our corporate governance and engage openly and constructively with our stockholders, ensuring we remain strongly aligned. Our decision to enter into a cooperation agreement with the shareholder group reflects our commitment as well as our board's commitment to strong governance, discipline oversight, and constructive engagement with our shareholders. As part of these governance enhancements, we reorganized board leadership and appointed new committee chairs, with Kevin Finney leading our Nominating and Governance Committee and Dr. Jim Breitmaier chairing our Compensation Committee. Additionally, we are forming the Stockholder Engagement Committee and the Clinical and Regulatory Affairs Committee. We are also in the search process for an additional independent director to be added to the board, working closely with the shareholder group as outlined in our collaboration agreement. We believe these actions significantly strengthen board oversight and reinforce our commitment to shareholder dialogue. I'll turn the call over to James. to walk us through the details of the COVID-19 data readout.
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