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 |