Form 8-K Vaxart, Inc. For: May 03

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May 3, 2021 1:23 PM EDT

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Exhibit 99.1

Vaxart, Inc.
Condensed Consolidated Balance Sheets
(in thousands)

	March 31, 2021		December 31, 2020
	(Unaudited)			(1)
Assets
Cash and cash equivalents	$	157,311	$	126,870
Investments in debt securities		19,939		—
Accounts receivable		700		334
Prepaid and other assets		4,393		1,699
Property and equipment, net		2,245		1,480
Right-of-use assets, net		6,350		6,838
Intangible assets, net		14,928		15,361
Total assets	$	205,866	$	152,582

Liabilities and stockholders’ equity
Accounts payable	$	4,638	$	2,133
Accrued and other liabilities		3,298		4,908
Liability related to sale of future royalties		15,061		14,929
Operating lease liabilities		6,634		7,208
Total liabilities		29,631		29,178
Stockholders’ equity		176,235		123,404
Total liabilities and stockholders’ equity	$	205,866	$	152,582

(1) Derived from the audited consolidated financial statements of Vaxart, Inc. for the year ended December 31, 2020, included on the Form 10-K filed with the Securities and Exchange Commission on February 25, 2021

Vaxart, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)

(in thousands, except share and per share amounts)

	Three Months Ended March 31,
	2021			2020

Revenue	$	506		$	2,902
Operating expenses:
Research and development		10,073			1,542
General and administrative		5,944			1,990
Restructuring costs		—			64
Total operating expenses		16,017			3,596
Loss from operations		(15,511	)		(694	)
Other income and (expenses), net		(458	)		(450	)
Provision for income taxes		(38	)		(153	)
Net loss	$	(16,007	)	$	(1,297	)
Net loss per share, basic and diluted	$	(0.14	)	$	(0.02	)
Shares used in computing net loss per share, basic and diluted		115,422,628			60,677,145