Hagens Berman Sobol Shapiro LLP and Scott+Scott Attorneys at Law LLP Announce a Class Action for All Vaxart Shareholders that May Include You, Even if You Participated in the Previous Partial Settlement with Vaxart

NEW YORK--(BUSINESS WIRE)--Hagens Berman Sobol Shapiro LLP & Scott+Scott Attorneys at Law LLP:

UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA

In re VAXART, INC. SECURITIES LITIGATION This Document Relates to: ALL ACTIONS

Master Case No. 3:20-cv-05949-VC SUPPLEMENTAL SUMMARY NOTICE OF CLASS CERTIFICATION

THIS SUPPLEMENTAL NOTICE PROVIDES ONLY LIMITED INFORMATION ABOUT THE CASE
PLEASE VISIT WWW.VAXARTSECURITIESLITIGATION.COM FOR MORE INFORMATION

The Court has certified this lawsuit as a class action for Vaxart shareholders that may include you, even if you participated in the previous partial settlement with Vaxart. This supplemental notice summarizes your rights and options, but please visit www.VaxartSecuritiesLitigation.com for more detailed information. If you’re included in the Class or Subclass (defined below) and do nothing, you will be bound by whatever results are reached in this class action. However, if you want to be free to bring your own separate suit (at your expense) against the Armistice Defendants (defined below) on the claims at issue, you must submit a “request for exclusion” by March 11, 2026. There is no money available now, and there may never be any.

On January 16, 2026, the Court issued an order clarifying what it means to have traded “contemporaneous[ly]” with the Defendants. Specifically, it means you must have purchased or acquired Vaxart common stock on either June 26 or June 29, 2020, inclusive, to be a member of the Subclass in this case. Because of this order, members of the Class are being given an additional opportunity to exclude themselves from the Class before this case goes to trial in April 2026.

What is this case against the Armistice Defendants about? Plaintiffs claim the Armistice Defendants violated Sections 10(b) & 20A of the Securities Exchange Act of 1934. The Armistice Defendants deny they did anything wrong. The Court has not decided whether Plaintiffs or the Armistice Defendants are right.

Are you affected? All persons or entities who (i) purchased or otherwise acquired publicly traded Vaxart common stock; or (ii) purchased call options or sold put options thereon, between June 25 and July 24, 2020, inclusive (the “Class Period”), and were damaged thereby, are members of the Class. Any members of the Class who purchased contemporaneously with the Armistice Defendants’ June 26 and 29, 2020 sales of Vaxart common stock and were damaged thereby are also members of the Subclass.

Who represents you? The Court appointed the law firms of Hagens Berman Sobol Shapiro LLP and Scott+Scott Attorneys at Law LLP as “Class Counsel” to represent you and all Class and Subclass members. You do not have to pay Class Counsel (or anyone else) to have your interests represented in this Action. If a recovery is obtained in this Action, the Court will direct that any attorneys’ fees and costs will be paid from any such recovery.

What are your options? (1) You can either stay in the Class OR (2) ask to be excluded.

If you stay in the Class, you will be bound by all Court decisions, and you won’t be able to sue the Armistice Defendants for the same legal claims that are the subject of this lawsuit. To stay in the Class, you don’t have to do anything now, and you will be notified later, on how to collect a share of the Class’s recovery, if any, that may be obtained.

If you want to be excluded, then you must submit a “request for exclusion” by March 11, 2026 (see instructions below). If you do, the Court will exclude you from the Class (including the Subclass, if applicable). If you exclude yourself, you cannot get a share of the recovery, if any, obtained in this Action, but you will be free to sue the Armistice Defendants on the same claims (at your own expense) and will not be bound by any orders or judgments entered in this class action.

To exclude yourself, you must send a written request stating that you “request to be excluded from the Class in In re Vaxart Securities Litig.” To be valid, it must also include your name, address, telephone number, signature, and copies of documents (do not send originals) sufficient to show how many shares of Vaxart common stock (and how many put or call options, if any) you purchased, acquired, and/or sold between June 25 and July 24, 2020, inclusive. You must submit your exclusion request so that it is received no later than March 11, 2026. You may submit your exclusion request by: (i) mailing it to Vaxart Securities Litigation, EXCLUSIONS, c/o A.B. Data, Ltd., P.O. Box 173001, Milwaukee, WI 53217; (ii) submitting it via the web portal at www.VaxartSecuritiesLitigation.com; or (iii) emailing it to [e-mail]. Unless otherwise ordered, your exclusion request must comply with the above requirements to be valid. Note: you cannot exclude yourself by phone.

If you already excluded yourself from the Class, you do not need to submit another request for exclusion; you will continue to be excluded from the Class. However, if you previously excluded yourself from the Class and no longer wish to be excluded from the Class, you can revoke your request for exclusion by submitting a written request to the Claims Administrator by (i) mailing it to Vaxart Securities Litigation, EXCLUSIONS, c/o A.B. Data, Ltd., P.O. Box 173001, Milwaukee, WI 53217; or (ii) emailing it to [e-mail].

How can you get more information? If you have questions or seek additional information about this Action (including the operative Complaint, the Armistice Defendants’ Answer, and selected Orders of the Court to date), visit www.VaxartSecuritiesLitigation.com; write to Vaxart Securities Litigation, c/o A.B. Data, Ltd., P.O. Box 173001, Milwaukee, WI 53217; or call 877-388-1723.

Dated: February 9, 2026

BY ORDER OF THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF CALIFORNIA