Vaxart Provides Merger Update

26

Vaxart Provides Merger Update

Vaxart, Inc., a clinical-stage biotechnology company developing oral recombinant vaccines that are administered by tablet rather
than by injection, announced today it has reached an understanding with the CAS Group under which East Hill, a major shareholder in
Aviragen, will support the merger between Vaxart and Aviragen.

“We are committed to creating significant value for all our shareholders as evidenced by the amended terms of the merger that
were recently announced,” said Wouter W. Latour, M.D., chief executive officer of Vaxart. “We want to thank all those who helped in
that process, including in particular the current Vaxart shareholders.”

“We look forward to building a long term relationship with East Hill, as with all our shareholders, and greatly appreciate their
support.”

About Vaxart

Vaxart is a clinical-stage company focused on developing oral recombinant protein vaccines based on its proprietary oral vaccine
platform. Vaxart’s oral vaccines are designed to generate broad and durable immune responses that protect against a wide range of
infectious diseases and may be useful for the treatment of chronic viral infections and cancer. Vaxart’s oral vaccines are
administered using a convenient room temperature-stable tablet, rather than by injection. Vaxart believes that tablet vaccines are
easier to distribute and administer than injectable vaccines, and have the potential to significantly increase vaccination rates.
Vaxart’s development programs include oral tablet vaccines are designed to protect against norovirus, seasonal influenza and
respiratory syncytial virus (RSV), as well as a therapeutic vaccine for human papillomavirus (HPV), Vaxart’s first immuno-oncology
indication. For more information, please visit www.vaxart.com.

Cautionary Note Regarding Forward Looking Statements

This press release contains forward-looking statements about Vaxart Inc. and its business, strategy and plans, including but not
limited to statements regarding its clinical drug development activities, clinical results and trial designs. All statements other
than statements of historical facts included in this press release are forward looking statements. The words “believes”, “may,”
“can,” “plans,” “estimates,”“will,” and any similar expressions or other words of similar meaning are intended to identify those
assertions as forward-looking statements. These forward-looking statements involve substantial risks and uncertainties that could
cause actual results to differ materially from those anticipated. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this press release. Except to the extent required by applicable law
or regulation, Vaxart undertakes no obligation to update the forward-looking statements included in this press release to reflect
subsequent events or circumstances.

Additional Information and Where to Find It

In connection with a proposed strategic merger of Aviragen Therapeutics (Nasdaq: AVIR) and Vaxart, Aviragen has filed relevant
materials with the Securities and Exchange Commission (SEC), including a registration statement on Form S-4, as amended. Investors
may obtain the proxy statement/prospectus, as well as other filings containing information about Aviragen, free of charge, from the
SEC’s web site (www.sec.gov). In addition, investors and security holders may obtain free copies of the documents filed with the
SEC by Aviragen by directing a written request to: Aviragen Therapeutics, Inc. 2500 Northwinds Parkway, Suite 100, Alpharetta, GA
30009, Attention: Investor Relations. Investors and security holders are urged to read the proxy statement, prospectus and the
other relevant materials when they become available before making any voting or investment decision with respect to the merger.

This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer
to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of
securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as
amended.

Participants in the Solicitation

Aviragen and its directors and executive officers and Vaxart and its directors and executive officers may be deemed to be
participants in the solicitation of proxies from the stockholders of Aviragen in connection with the proposed transaction.
Information regarding the special interests of these directors and executive officers in the merger will be included in the proxy
statement/prospectus referred to above. Additional information regarding the directors and executive officers of Aviragen is also
included in Aviragen Annual Report on Form 10-K for the year ended December 31, 2016. This document is available free of charge at
the SEC web site (www.sec.gov) and from Investor Relations at Aviragen at the address set forth above.

W2O


Katie Hogan, 415-658-9745

khogan@wcgworld.com


or


Vaxart, Inc.


Emery Dora, 650-550-3514

edora@vaxart.com

Source