Vaxart Submits Proxy Statement for Reverse Stock Split to Support Resumption of Trading on Nasdaq
Vaxart (OTCQX: VXRT), a clinical-stage biotech company developing oral recombinant pill vaccines, has filed a preliminary proxy statement proposing a reverse stock split to regain Nasdaq compliance. The company will hold a Special Meeting of Stockholders on September 5, 2025, to vote on a reverse split ratio between 1-for-5 and 1-for-20.
Following trading suspension due to non-compliance with Nasdaq's minimum bid price requirements, Vaxart has appealed and scheduled a Nasdaq Hearings Panel meeting for August 14, 2025. The new proposal includes reducing authorized shares proportionally to the split ratio, incorporating feedback from stockholders after a previous failed vote in June 2025.
Vaxart (OTCQX: VXRT), una società biotecnologica in fase clinica che sviluppa vaccini orali a base di pillole ricombinanti, ha depositato una dichiarazione preliminare per una frazione inversa delle azioni al fine di tornare a rispettare i requisiti del Nasdaq. L'azienda terrà un Assemblea Speciale degli Azionisti il 5 settembre 2025 per votare su un rapporto di frazionamento compreso tra 1-per-5 e 1-per-20.
Dopo la sospensione delle negoziazioni dovuta al mancato rispetto del prezzo minimo per azione richiesto dal Nasdaq, Vaxart ha presentato ricorso e ha programmato un incontro del Nasdaq Hearings Panel per il 14 agosto 2025. La nuova proposta prevede anche una riduzione proporzionale delle azioni autorizzate in base al rapporto di frazionamento, integrando i feedback degli azionisti dopo un precedente voto fallito nel giugno 2025.
Vaxart (OTCQX: VXRT), una empresa biotecnológica en etapa clínica que desarrolla vacunas recombinantes orales en forma de pastilla, ha presentado una declaración preliminar proponiendo una consolidación inversa de acciones para recuperar el cumplimiento con Nasdaq. La compañía celebrará una Junta Especial de Accionistas el 5 de septiembre de 2025 para votar sobre una proporción de consolidación entre 1 por 5 y 1 por 20.
Tras la suspensión de la negociación debido al incumplimiento del precio mínimo por acción requerido por Nasdaq, Vaxart apeló y programó una reunión del Panel de Audiencias de Nasdaq para el 14 de agosto de 2025. La nueva propuesta incluye reducir proporcionalmente las acciones autorizadas según la proporción de consolidación, incorporando comentarios de los accionistas después de una votación fallida en junio de 2025.
Vaxart (OTCQX: VXRT)는 경구용 재조합 알약 백신을 개발하는 임상 단계의 바이오텍 회사로, 나스닥 규정 준수를 회복하기 위해 역병합 주식 분할을 제안하는 예비 위임장 성명을 제출했습니다. 회사는 2025년 9월 5일 특별 주주총회를 열어 1대 5에서 1대 20 사이의 역병합 비율에 대해 투표할 예정입니다.
나스닥의 최소 입찰가 요건 미충족으로 인한 거래 정지 후, Vaxart는 항소를 제기하고 2025년 8월 14일 나스닥 청문회 패널 회의를 예정했습니다. 새로운 제안에는 2025년 6월 실패한 투표 이후 주주들의 의견을 반영하여 분할 비율에 비례해 승인 주식 수를 줄이는 내용도 포함되어 있습니다.
Vaxart (OTCQX : VXRT), une société biotechnologique en phase clinique développant des vaccins oraux recombinants sous forme de pilules, a déposé une déclaration préliminaire proposant un fractionnement inversé des actions afin de retrouver la conformité avec le Nasdaq. La société tiendra une assemblée générale extraordinaire des actionnaires le 5 septembre 2025 pour voter sur un ratio de regroupement compris entre 1 pour 5 et 1 pour 20.
Suite à la suspension des échanges en raison du non-respect des exigences de prix minimal par action du Nasdaq, Vaxart a fait appel et a programmé une réunion du panel d'audition du Nasdaq le 14 août 2025. La nouvelle proposition inclut une réduction proportionnelle des actions autorisées selon le ratio de regroupement, intégrant les retours des actionnaires après un vote précédent échoué en juin 2025.
Vaxart (OTCQX: VXRT), ein biotechnologisches Unternehmen in der klinischen Phase, das orale rekombinante Pillenimpfstoffe entwickelt, hat eine vorläufige Vollmachterklärung eingereicht, in der eine Aktienzusammenlegung vorgeschlagen wird, um die Nasdaq-Konformität wiederherzustellen. Das Unternehmen wird am 5. September 2025 eine außerordentliche Hauptversammlung der Aktionäre abhalten, um über ein Zusammenlegungsverhältnis zwischen 1:5 und 1:20 abzustimmen.
Nach der Aussetzung des Handels aufgrund der Nichterfüllung der Mindestgebotspreisvorgaben der Nasdaq hat Vaxart Berufung eingelegt und eine Sitzung des Nasdaq Hearing Panels für den 14. August 2025 angesetzt. Der neue Vorschlag beinhaltet eine proportionale Reduzierung der genehmigten Aktien entsprechend dem Zusammenlegungsverhältnis und berücksichtigt das Feedback der Aktionäre nach einer früheren gescheiterten Abstimmung im Juni 2025.
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- Special Meeting of Stockholders to be Held Virtually on September 5, 2025 -
- Live Stockholder Fireside Chat to be Scheduled to Answer Frequently Asked Stockholder Questions -
- Nasdaq Hearings Panel Meeting Scheduled on August 14, 2025 -
SOUTH SAN FRANCISCO, Calif., July 24, 2025 (GLOBE NEWSWIRE) -- Vaxart, Inc. (OTCQX: VXRT) (“Vaxart” or the “Company”), a clinical-stage biotechnology company developing a range of oral recombinant pill vaccines based on its proprietary delivery platform, today announced it filed a preliminary proxy statement with an updated reverse stock split proposal.
The filing of the preliminary proxy statement follows the trading suspension of the Company’s common stock due to non-compliance with Nasdaq’s minimum bid price requirements. Vaxart appealed the suspension and scheduled a hearing with the Nasdaq Hearings Panel to be held on August 14, 2025.
“The Board of Directors has carefully considered the best interests of the Company and has determined that being listed on Nasdaq provides both liquidity for stockholders as well as the enhanced ability for Vaxart to raise capital as needed to advance the promising science that we have produced,” said Steven Lo, Chief Executive Officer of Vaxart. “Based on our current stock price and current market conditions, the proposal to effect a reverse stock split is a necessary component of our plan to regain compliance with the Nasdaq minimum bid price requirement. Management intends to schedule a live stockholder fireside chat to explain the need for a reverse stock split, answer stockholder questions, and delineate the Company’s recent and planned efforts to advance our science, all with the goal of enhancing stockholder value.”
The filing aims to secure stockholder approval to allow for, if necessary, a reverse stock split to regain compliance with Nasdaq’s minimum bid price requirement.
The preliminary proxy statement proposes that:
- A reverse stock split, if effected, of the common stock would be at a ratio of not less than 1-for-5 and not more than 1-for-20.
- Current authorized number of shares of the Company’s common stock would be reduced in a proportion equal with the reverse stock split ratio.
This action follows the results of the Annual Meeting of Stockholders held on June 13, 2025, where the proposal to effect a reverse stock split was not approved. The new proposal incorporates the valuable feedback received from stockholders, including a corresponding decrease in the number of authorized shares of common stock of the Company in a proportion equal to that of the associated reverse stock split.
The special meeting of stockholders will be held in a virtual-only format via live webcast on September 5, 2025, at 8:30 a.m. Pacific Time through live webcast of the meeting.
If you have any questions or need assistance with voting, please contact Vaxart’s proxy solicitation firm:
Campaign Management, LLC
Toll-Free: 1-855-264-1527
Email: info@campaign-mgmt.com
About Vaxart
Vaxart is a clinical-stage biotechnology company developing a range of oral recombinant vaccines based on its proprietary delivery platform. Vaxart vaccines are designed to be administered using pills that can be stored and shipped without refrigeration and eliminate the risk of needle-stick injury. Vaxart believes that its proprietary pill vaccine delivery platform is suitable to deliver recombinant vaccines, positioning the company to develop oral versions of currently marketed vaccines and to design recombinant vaccines for new indications. Vaxart’s development programs currently include pill vaccines designed to protect against coronavirus, norovirus and influenza, as well as a therapeutic vaccine for human papillomavirus (HPV), Vaxart’s first immune-oncology indication. Vaxart has filed broad domestic and international patent applications covering its proprietary technology and creations for oral vaccination using adenovirus and TLR3 agonists.
No Solicitation; Additional Information
This press release is being made with respect to the matters discussed above. This press release is not a solicitation of any vote, proxy, or approval of the Company’s stockholders and is not a substitute for the definitive proxy statement (if and when filed) or any other documents that the Company may send to its stockholders in connection with the matters discussed herein. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are subject to the “safe harbor” created by those sections, concerning our business, operations, and financial performance and condition, Vaxart’s plans, objectives, and expectations for business operations, funding and ability to raise capital as needed or at all, and financial performance and condition. Any statements contained herein that are not of historical facts may be deemed to be forward-looking statements. You can identify these statements by words such as “anticipate,” “assume,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “should,” “will,” “would,” and other similar expressions that are predictions of or indicate future events and future trends. These forward-looking statements are based on current expectations, estimates, forecasts, and projections about our business and the industry in which we operate and management’s beliefs and assumptions and are not guarantees of future performance or development and involve known and unknown risks, uncertainties, and other factors that are in some cases beyond our control. As a result, any or all of our forward-looking statements in this press release may turn out to be inaccurate. Factors that could materially affect our business operations and financial performance and condition include, but are not limited to, those risks and uncertainties described under “Item 1A - Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024 and any risk factors disclosed in any subsequent Quarterly Reports on Form 10-Q. You are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on the forward-looking statements. The forward-looking statements are based on information available to us as of the date of this press release. Unless required by law, we do not intend to publicly update or revise any forward-looking statements to reflect new information or future events or otherwise. You should, however, review the factors and risks we describe in the reports we will file from time to time with the SEC after the date of this press release.
Contact
Vaxart Media and Investor Relations
Matt Steinberg
FINN Partners
IR@vaxart.com
(646) 871-8481
This press release was published by a CLEAR® Verified individual.
