Vaxart, Inc. · OTC:VXRT
Vaxart — Aviragen Therapeutics — Merger or Acquisition (December 2017)
26 slides from Vaxart's merger presentation, Dec 19, 2017
Slide 1: Aviragen Therapeutics Proposed Merger Presentation
AVIRAGEN THERAPEUTICS ART December 19, 2017 Proposed Merg Presentation
Slide 2: Safe Harbor
ep Safe Harbor VAXART This presentation 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 anticipated preclinical and clinical drug developm
Slide 3: Additional Information About the Merger and Where to Find It
Additional Information About the Merger and i) Where to Find It VAXART In connection with the 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 that contains a prospectus and a joint proxy
Slide 4: Purpose of the Proposed Merger
ep Purpose of the Proposed Merger VAXART * To create a biotech company with prospects for maximizing near-term and long-term value for our combined shareholders * To access a proprietary technology platform, with broad applicability in the industry, in order to provide new medical benefits for patie
Slide 5: Why Vaxart?
ep Why Vaxart? VAXART ° We believe that Vaxart has a very compelling value proposition for our shareholders with its oral vaccine delivery capabilities to disrupt and take over the well-established injectable vaccine market and more importantly, launch new vaccine options * Vaxart has delivered clin
Slide 6: About the Transaction
About the Transaction URSA Merged Company ° Aviragen stockholders 40% / Vaxart stockholders 60% — Aviragen Therapeutics, Inc. valuation S60M — Vaxart, Inc. valuation S90M * Company name will be Vaxart — Proposed NASDAQ ticker — “VXRT” — Seven board members; three from Aviragen ° Well-financed to ach
Slide 7: Vaxart: Oral Recombinant Vaccines
VAXART ORAL RECOMBINANT VACCINES INNOVATIVE i TABLET OFFERS i HIGH VALUE VACCINE PLATFORM IMPORTANT ADVANTAGES PIPELINE Norovirus Vaccine - 100% respondersin Phase 1b Broad immune responses Flu Phase 2 challenge study - Systemic & mucosal - BARDA funded ($15.7M) Significant platform benefits vaccine
Slide 8: Robust Antiviral Clinical Pipeline Focused on Both Prophylactic and Therapeutic Products
Robust Antiviral Clinical Pipeline Focused on ep Both Prophylactic and Therapeutic Products VAXART Prophylactic Norovirus » Influenza 2 RSV Therapeutic HPV Vaccine Small Molecules HPV (BTAO74) Rhinovirus (Vapendavir) Ss Shs >D === > EA ——k—E RSV (non-F) Ee Inavir® Dn a Relenza® 1) Monovalent GI.1 no
Slide 9: Innovative Vaccine Platform
Innovative Vaccine Platform ip Non-Replicating Ad5 Co-Delivers Genes coding for Antigen + Adjuvant = vaxart TABLETS VACCINEANTIGEN —_TLR3 ADJUVANT * Designed to Release + Norovirus VP1 * Molecularly eevee the + Influenza HA Expressed dsRNA ADENOVIRUS 5 (Ad5) + Replication Incompetent THE VAXART PLAT
Slide 10: Global Vaccines Market: $30 Billion + Annual Sales
Global Vaccines Market: $30 Billion + Annual Sales V cant i “Vaccines are among big pharma’s best selling products” — FT, April 26 2016 Vaccine Growth Trends — Innovation — Elderly/Adult Vaccination — Vaccination for New Diseases — Emerging Market Expansion Vaxart Platform: Engine for Hi-Value Vacci
Slide 11: Human Influenza Phase 2 Challenge Trial
Human Influenza Phase 2 Challenge Trial Double Blind, Placebo Controlled, Active Comparator (QIV) vaxant ° Asingle dose administration of one of the following — Arm 1: Vaxart Tablet Vaccine + placebo IM injection (n=60+10) — Arm 2: QIV injection + oral placebo tablet (n=60+12) — Arm 3: Placebo IM in
Slide 12: Reduction in Illness and Infection Rates Similar to QIV
Reduction in Illness and Infection Rates Similar to QIV ip Reduction in Infection Rates Trended Superior to QIV VAXART Illness Rates Protection against Illness 60% Comparable to QIV 50% §390% 27% ) 40% : 30% 20% 10% % Infection Rates Vaxart Tablet Placebo Vaccine 80% Yasx = Y3s% 60% Reduced Infectio
Slide 13: Safety & Tolerability: Solicited Symptoms
Safety & Tolerability: Solicited Symptoms ep Oral Tablet Vaccine was Well Tolerated VAXART alv (n=36) (n=70) (n=72) Number of Subjects with Solicited Symptom TEAEs 15 (42%) 20 (29%) 26 (36%) General Disorders and Nervous System Disorders Malaise/Fatigue 5 (14%) 3 (4%) 5 (7%) Headache 7 (19%) 5 (7%)
Slide 14: Norovirus is a Significant Cause of Disease in the U.S.
Norovirus is a Significant Cause of Disease ip in the U.S. VAXART Annual estimates of norovirus Estimated lifetime illnesses and associated outcomes risk of norovirus 1 in 5,000-7,000 1in50-70 400,000 Emergency Department Visits 1.7-1.9 Million — > 1in2 Outpatient Visits 19-21 Million ==> 5 times To
Slide 15: Norovirus: Oral Tablet Vaccine is a Key Differentiator
Norovirus: Oral Tablet Vaccine is a ip Key Differentiator VAXART 420M ‘About 20 million people get sick from norovirus each year, most from close contact wit infected people or by eating contaminated food. #19 ‘Norovirus is the leading cause of disease outbreaks from contaminated food in the US. Z70
Slide 16: Norovirus GI.1 - Phase 1b (Study 102)
Norovirus GI.1 - Phase 1b (Study 102) i) Open Label, Dose and Schedule Optimization Study VAXKART * Study Objectives: — Primary: To further determine the safety of an oral tableted VXA-G1.1-NN norovirus vaccine with different dosing regimens — Secondary: To determine the immunogenicity of a VXA-G1.1
Slide 17: Phase 1b Norovirus Solicited Symptoms
Phase 1 Norovirus Solicited Symptoms ep Most Events Mild in Severity (Days 0 - 7) VAXART (n=15) (n=15) (n=15) (n=15) Number of Subjects with Solicited Symptom TEAEs 5 (33%) 8 (53%) 11 (73%) 3 (20%) Gastrointestinal Disorders Diarrhea ° 1(7%) 5 (33%) 1(7%) ‘Abdominal Pain 1 (7%) 1 (7%) 3 (20%) 1(7%)
Slide 18: > 90% of Subjects in High Dose Group Responded by BT50
> 90% of Subjects in High Dose Group Responded by BT50 ? ip ~ 4-Fold Increase in BT50 Titers at Day 28/56 VAXART BT50 Geometric Mean Titer Increases after Vaccination 100 “add Low Dose D0, D7 Low Dose D0,2,4 Low Dose D0, 28 High Dose DO, 28 DO @D28 WD56 D28 Response Rate | D56 Response Rate (22x) (2
Slide 19: All Subjects in High Dose Group Responded by IgA-ASC
All Subjects in High Dose Group Responded by ip IgA-ASC, a Marker of Mucosal Immunity VAXART 100% Norovirus IgA ASC Responses 90% 80% 70% 60% 50% 40% 30% ; | 20% 10% 0% Low DO,7 Low D0,2,4 Low DO0,28 High DO,28 W Initial Response li Final Response ASC = Antibody Secreting Cells 1
Slide 20: Norovirus Oral Tablet Vaccine Results
Norovirus Oral Tablet Vaccine Results VAXMART * Vaccine was well-tolerated Solicited symptoms were mostly mild in severity Headache was the most frequently reported adverse event * Vaccine creates broad immune responses Heavily skewed toward mucosal IgA - important correlate of protection for norovi
Slide 21: Efficacy in HPV-derived Tumor Model in Mice (TC-1)
Efficacy in HPV-derived Tumor Model ip in Mice (TC-1) VAXART Study 1 small tumour, Survival Study 1 immunize d7, 14, 21 2000: 100 e P E 1500 = 5 5 2° 2 8 40 5 2 90. 2 600: Fe 0. ° 15 20 25 30 35 40 45 50 55 60 65 70 0 510 15 20 25 30 35 40 45 50 55 60 Day “© G1 Untreated Day -@ G2Ad-ar + Isotype con
Slide 22: Safety and Broad Immune Responses in Multiple Trials
Safety and Broad Immune Responses in Multiple Trials ip More than 300 Subjects Dosed to Date VAXART CLINICAL TRIALS Tablet Vaccines Purpose: * Safety * Immunogenicity * Dose ranging * Efficacy Flu RSV SUBJECTS DOSED 176 46 106 SAFETY Favorable safety and tolerability profile EFFICACY Reduction in in
Slide 23: BTA074: First-in-Class Direct-Acting Antiviral Treatment for Condyloma
BTA074: First-in-Class Direct-Acting Antiviral i) Treatment for Condyloma UAIART BTAO74 (teslexivir) is a first-in-class direct-acting topical antiviral for the treatment of condyloma, or anogenital warts, caused by human papillomavirus (HPV) types 6 & 11 HPV infection — Most frequent sexually trans
Slide 24: Teslexivir Phase 2 CT4 Trial
i Teslexivir Phase 2 CT4 Trial VAXART Multi-center, randomized, double-blind, placebo-controlled trial in adult condyloma (anogenital warts) patients * — Primary efficacy endpoint is the complete clearance rate for baseline anogenital warts from the commencement of therapy to the end of the treatmen
Slide 25: Clinical & Regulatory Milestones
Clinical & Regulatory Milestones ep VAXART Recently Completed Y Q3 2017- Reported positive top-line data from Phase 1b norovirus vaccine safety and immunogenicity trial ¥ Q3 2017- Reported positive top-line data from Phase 2 influenza vaccine challenge trial Y 04 2017- Completed enrollment in Phase
Slide 26: Veteran Management Team with Deep Experience in Vaccines and Immunology
Veteran Management Team with Deep i) Experience in Vaccines and Immunology UANART RELEVANT EXPERIENCE MANAGEMENT TEAM (YEARS) COMPANIES EXPERTISE Vaccines, Mucosal tb Novartis TRINTY® Delivery of Biopharmaceuticals WOUTER LATOUR, MD MBA CEO 20 SmithKline Beecham SEAN TUCKER, PHD S\ ix @GENTERIC Muco
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