Vaxart's Oral Vaccine Is Room Temperature Stable
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developing The Pill Against COVID-19 Forward-Looking Statement This presentation contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included in this press release regarding Vaxart’s strategy, prospects, plans and objectives, results from preclinical and clinical trials, commercialization agreements and licenses, beliefs and expectations of management are forward-looking statements. These forward-looking statements may be accompanied by such words as “should,” “believe,” “could,” “potential,” “will,” “expected,” “plan” and other words and terms of similar meaning. Examples of such statements include, but are not limited to, statements relating to Vaxart’s ability to develop (including enrolling a sufficient number of subjects and manufacturing sufficient quantities of its product candidates) and commercialize its COVID-19 vaccine candidate and preclinical or clinical results and trial data (including plans with respect to the COVID-19 vaccine product candidates); expectations regarding the timing and nature of future announcements including, those related to clinical trials and results of preclinical studies; Vaxart’s expectations with respect to the important advantages it believes its oral vaccine platform can offer over injectable alternatives, particularly for coronaviruses; the potential applicability of results seen in our preclinical trials to those that may be seen in human studies or clinical trials; the expected role of mucosal immunity in blocking transmission of COVID-19; and Vaxart’s expectations with respect to the effectiveness of its products or product candidates, including Vaxart’s potential role in mitigating the impact of COVID-19 globally. Vaxart may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in the forward-looking statements and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions, expectations and projections disclosed in the forward-looking statements. Various important factors could cause actual results or events to differ materially from the forward-looking statements that Vaxart makes, including uncertainties inherent in research and development, including the ability to meet anticipated clinical endpoints, commencement and/or completion dates for clinical trials or preclinical studies, regulatory submission dates, regulatory approval dates and/or launch dates, as well as the possibility of unfavorable new clinical data and further analyses of existing clinical data; the risk that clinical trial and preclinical study data are subject to differing interpretations and assessments by regulatory authorities; whether regulatory authorities will be satisfied with the design of and results from the clinical studies; decisions by regulatory authorities impacting labeling, manufacturing processes, and safety that could affect the availability or commercial potential of any product candidate, including the possibility that Vaxart’s product candidates may not be approved by the FDA or non-U.S. regulatory authorities; that, even if approved by the FDA or non-U.S. regulatory authorities, Vaxart’s product candidates may not achieve broad market acceptance; that a Vaxart collaborator may not attain development and commercial milestones; that Vaxart or its partners may experience manufacturing issues and delays due to events within, or outside of, Vaxart’s or its partners’ control, including the recent outbreak of COVID-19; difficulties in production, particularly in scaling up initial production, including difficulties with production costs and yields, quality control, including stability of the product candidate and quality assurance testing, shortages of qualified personnel or key raw materials, and compliance with strictly enforced federal, state, and foreign regulations; that Vaxart may not be able to obtain, maintain and enforce necessary patent and other intellectual property protection; that Vaxart’s capital resources may be inadequate; Vaxart’s ability to obtain sufficient capital to fund its operations on terms acceptable to Vaxart, if at all; the impact of government healthcare proposals and policies; competitive factors; and other risks described in the “Risk Factors” sections of Vaxart’s Quarterly and Annual Reports filed with the SEC. Vaxart does not assume any obligation to update any forward-looking statements, except as required by law. 2 Key Investment Highlights Disruptive, Clinically Validated, Oral Vaccine Platform Potential to transform the vaccine ecosystem Completed 12 clinical trials against different 6 viruses Oral, room-temperature stable COVID-19 program May offer the most practical global solution to pandemic Oral convenience, potential superior efficacy due to mucosal immunity, ease of distribution – room temp. stable Pipeline focused on several very large opportunities besides COVID-19 Norovirus, HPV, influenza & RSV Resources to aggressively continue clinical advancement and commercialization Cash: $133M (at end 3Q 2020) 3 Developing a Groundbreaking Solution: Oral Tablet COVID-19 Vaccine Vaccine as a pill + Convenient mode of administration, rapid and painless: no needles, self administration (no appointments, no lines, social distancing) Potentially more protective than injectable vaccines: activates mucosal immunity – the first line of defense, plus multiple immune system mechanisms Ease of distribution and storage, globally: room temperature stable tablet – no cold chain, no needles or devices, no waste Vaxart’s COVID-19 vaccine is the only oral vaccine from a platform with clinical data, and the only mucosal vaccine in the U.S.’s Operation Warp Speed NHP challenge study 4 • VAAST Oral Tablet Vaccine Platform • COVID-19 Oral Tablet Vaccine Program - Vaccine structure and immunogenicity in mice - Protection in hamster challenge study - Advantages in administration and distribution • Pipeline and Management team 5 Proprietary Oral Vaccine Platform : VAAST TM Intestinal Delivery + Targeted Immune Activation ANTIGEN COVID-19 (Disease- Norovirus Room-temperature (25⁰C) stable Specific) Influenza enteric-coated tablets Ad5 TLR3 DELIVERY ADJUVANT VEHICLE (“Vector-Based” (Immune Backbone) Stimulator) VAASTTM: Vector-Adjuvant-Antigen Standardized Technology Manufacturing Adjuvant & Antigen are Co-expressed: Patents with Broad Composition of Standardized Potential Safety, Efficacy Benefits Matter and Method Claims 6 Vaxart’s oral vaccine platform designed to activate the mucosal immune system: the 1st line of defense against airborne viruses such as COVID-19 and flu Protection against Airborne Viruses: Oral vaccine activates immunity in the right places Vaxart’s oral vaccine triggers a broad immune response, activating systemic and mucosal immunity: ✤ Nose ✤ Lungs ✤ Intestine ✤ Mouth Injectable vaccines only activate systemic immunity 7 Efficacy against airborne viruses: Vaxart’s oral flu vaccine protected against illness as well as the leading injectable flu vaccine Phase II clinical trial comparing Vaxart’s oral tablet flu vaccine and Sanofi’s Fluzone injectable flu vaccine Protection Against Illness • Trial Funded by the U.S. Reduction in Illness Rate Biomedical Advanced Research and Development Authority -27% (BARDA) -39% • Results published in January 2020 48% 35% 29% • Compared to those unvaccinated, illness rates were 39% lower in those taking Vaxart’s oral vaccine, and 27% lower in those vaccinated Vaxart Oral Fluzone Placebo with Fluzone Vaccine Liebowitz, et al, Lancet ID, 2020 8 Oral vaccines have the potential for sterilizing immunity against airborne pathogens such as COVID-19 and flu – preventing infection altogether By triggering a strong Protection Against Infection mucosal immunity, Reduction in Infection Rate Vaxart’s oral vaccine has the potential to prevent infection altogether -48% -38% 71% BARDA-funded phase II clinical 44% 37% trial comparing Vaxart’s oral tablet flu vaccine and Sanofi’s Fluzone injectable flu vaccine. P = 0.001 P = 0.009 Vaxart Oral Fluzone Placebo Vaccine Liebowitz, et al, Lancet ID, 2020 Defined by % of subjects shedding 36 hours post challenge to remove pass-through virus 9 Oral vaccine correlate of protection different than injectable Vaxart Fluzone BARDA’s Random Forest Analysis: • IgA ASC most important immunological feature for protection against shedding for the Oral Vaccine • HAI most important feature for protection against shedding for the QIV vaccine Liebowitz, et al, Lancet ID, 2020 10 Safety Profile and Tolerability Comparable to Placebo in Influenza Long-term safety & Flu challenge study tolerability: Any symptoms (solicited) Pain at injection site Tenderness at injection site Placebo 42% 2.8% 2.8% 462 subjects vaccinated (n=36) Oral tablet vaccine (n=72) 29% 2.9% 4.3%* 12 clinical trials Fluzone 36% 13.9% 26.4 (n=72) % 6 different viruses Pain: a key reason for which people don’t like needles * Placebo injection given to those receiving the oral vaccine Source: Liebowitz et al., Lancet Infectious Diseases, Jan 2020 LeadingWith injectable its COVID COVID--19 phase19 vaccine I trial, Vaxart’scandidates VAAST have oral adverse vaccine eventsplatform so severe, entered they arethe administered13th clinical trial along against with Advilthe 7th virus 11 VAAST Oral Vaccine Platform Highlights • Well tolerated clinical vaccine platform • Clinically shown to protect as well as leading