Vaxart, Inc. · OTC:VXRT

Vaxart — Aviragen Therapeutics — Merger or Acquisition (January 2018)

12 slides from Vaxart's merger presentation, Jan 12, 2018

  1. Slide 1: Aviragen Therapeutics and Vaxart merger presentation

    AVIRAGEN THERAPEUTICS ART January 11,2018 a € [ ° ° RAL VACCINES

  2. Slide 2: Forward Looking Statements

    avinagen &P Forward Looking Statements VAXART This document contains forward-looking statements about Aviragen Therapeutics, Inc. and Vaxart Inc., and their respective businesses, business prospects, strategy and plans, including but not limited to statements regarding the estimated value of the com

  3. Slide 3: Additional Information About the Merger and Where to Find It

    Additional Information About the Merger AVIRAGEN 3) THERAPEUTICS and Where to Find It VAXART In connection with the proposed strategic merger, Aviragen and Vaxart have filed relevant materials with the Securities and Exchange Commission, or the SEC, including a registration statement on Form S-4, as

  4. Slide 4: Maximizing Value for Aviragen Stockholders

    AVIRAGEN ep Maximizing Value for Aviragen Stockholders VAXART * Aviragen’s Board of Directors believes the proposed merger with Vaxart maximizes value for and is in the best interest of all Aviragen stockholders * Aviragen’s stockholders will have the opportunity to participate in the significant up

  5. Slide 5: Creating a Leading Vaccine Company with Multiple Opportunities for Value Creation

    Creating a Leading Vaccine Company with Multiple Opportunities for Value Creation The merger will result in a clinical-stage pharmaceutical company focused on developing Vaxart’s oral recombinant vaccines, based on its proprietary delivery platform that allows for administration by tablet rather tha

  6. Slide 6: Robust Antiviral Clinical Pipeline Focused on Both Prophylactic and Therapeutic Products

    Robust Antiviral Clinical Pipeline Focused on AVIRAGEN fp THERAPEUTICS Both Prophylactic and Therapeutic Products VAXART Prophylactic Norovirus » Influenza 2 RSV Therapeutic HPV Vaccine Small Molecules HPV (BTAO74) Rhinovirus (Vapendavir) Ss Shs >D | 2 > EA ——k—E RSV (non-F) Ee Inavir® Dn a Relenza®

  7. Slide 7: Well-Financed to Achieve Near-Term Value-Creating Milestones

    Well-Financed to Achieve Near-Term AVIRAGEN ep THERAPEUTICS Value-Creating Milestones VAXART UPCOMING MILESTONES Recently Completed Y Q32017—Reported positive top-line data form Phase 1b norovirus vaccine safety and immunogenicity trial Y 032017—Reported positive top-line data from Phase 2 influenza

  8. Slide 8: Aviragen Board Conducted Extensive Review of Strategic Alternatives

    Aviragen Board Conducted Extensive Review AViIRAGEN 3) THERAPEUTICS of Strategic Alternatives VAXART * Board formed an independent transactions committee, which evolved throughout the process to ensure its members were not affiliated with potential counter-parties * Options evaluated included a busi

  9. Slide 9: Merger Provides Attractive Potential Valuation of Aviragen

    Merger Provides Attractive Potential Valuation of Aviragen AVIRAGEN THERAPEUTICS ip VAXART Illustrative Potential Value (Sin mittiong Selected Publicly Traded Vaccine Cor Bavatian Nordic A/S Novaax, In $430 hhovo Pharmaceuticals, Inc sad Agenus in 5290 VBI Vaccines, ic $280 BiondVax Pharmacetticals

  10. Slide 10: Veteran Management Team with Deep Experience in Vaccines and Immunology

    Veteran Management Team with Deep AVIRAGEN 3) THERAPEUTICS Experience in Vaccines and Immunology VAXART RELEVANT EXPERIENCE MANAGEMENT TEAM (YEARS) COMPANIES EXPERTISE Vaccines, Mucosal Delivery of Biopharmaceuticals WOUTER LATOUR, MD MBA 20 ceo smi Bywcram QD NOVARTIS TRINTY® SEAN TUCKER, PHD > \GE

  11. Slide 11: Proposed Board of Directors Has Extensive Pharmaceutical and Biotechnology Experience

    Proposed Board of Directors Has Extensive Pharmaceutical and Biotechnology Experience AVIRAGEN ep VAXART DIRECTORS GEOFFREY COX, PHD? MICHAEL FINNEY, PHD! WOUTER LATOUR, MD MBA! JAN LESCHLY? RICHARD MARKHAM? JOHN RICHARD? ANNE VANLENT2 1-Vaxart designee; 2 — Aviragen designee CURRENT PRINCIPAL AFFIL

  12. Slide 12: Transaction Overview

    AVIRAGEN ep Transaction Overview VAXART * Aviragen Special Meeting of Stockholders to be held on February 6, 2018 ° Aviragen stockholders 40% / Vaxart stockholders 60% * Estimated implied pro forma equity value of Aviragen in the merger is $106 million as opposed to the Company’s market capitalizati

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