Exhibit 99.1

Vaxart Provides Business Update and Reports Third Quarter 2026 Financial Results

Topline data from 400-person sentinel safety cohort and approximately 5,000 patients in main cohort Phase 2b COVID-19 trial anticipated by mid-year 2027

Expanded intellectual property portfolio with new European patent that further protects core IP for Vaxart's oral recombinant norovirus vaccine candidate

Appointed Raquel “Rocky” C. Bono, M.D., Vice Admiral, U.S. Navy (Ret.), a nationally recognized healthcare executive and physician leader to its Board of Directors

Live stockholder fireside chat scheduled for November 6, 2026, at 4:30 p.m. ET

SOUTH SAN FRANCISCO, Calif., November 5, 2026 -- Vaxart, Inc. (OTCQX: VXRT) ("Vaxart" or the "Company"), a clinical-stage biotechnology company developing oral recombinant vaccines administered via tablet, today announced its business update and financial results for the third quarter of 2026.

"During the third quarter, the Vaxart team worked diligently to advance our Phase 2b COVID-19 trial," said Steven Lo, Chief Executive Officer of Vaxart. "The release of the topline efficacy and safety data from the main cohort remains a top priority, and we continue to actively work toward completion of analytical testing and disclosure of the trial results, in collaboration with our partner BARDA. In parallel, we continue to reinforce our competitive positioning, recently expanding our global intellectual property portfolio with a key European patent protecting our oral recombinant norovirus vaccine candidate and derivatives thereof. Beyond our clinical work, we remain focused on expanding board governance and fostering open dialogue with our retail stockholders as highlighted by the addition of Dr. Raquel Bono to our Board as Chair of our newly established Stockholder Engagement Committee."

Recent Business Highlights

COVID-19 Program Update

BARDA COVID-19 Contract Update

Norovirus Vaccine Developments

Influenza Program Developments

Corporate Governance Enhancements

Financial Results for the Third Quarter Ended September 30, 2026

Stockholder Fireside Chat
Vaxart will host a live stockholder fireside chat to answer frequently asked stockholder questions on Friday, November 6, 2026, at 4:30 p.m. ET.

A live webcast of the fireside chat will be available in the Investor section on the Company’s website at www.vaxart.com. Questions may be submitted in advance to ir@vaxart.com.

About Vaxart
Vaxart is a clinical-stage biotechnology company developing a range of oral recombinant vaccines based on its proprietary delivery platform. Vaxart vaccines are designed to be administered using pills that can be stored and shipped without refrigeration and eliminate the risk of needle-stick injury. Vaxart believes that its proprietary pill vaccine delivery platform is suitable to deliver recombinant vaccines, positioning the Company to develop oral versions of currently marketed vaccines and to design recombinant vaccines for new indications. Vaxart’s development programs currently include pill vaccines designed to protect against coronavirus, norovirus, and influenza, as well as a therapeutic vaccine for human papillomavirus (HPV), Vaxart’s first immune-oncology indication. Vaxart has filed broad domestic and international patent applications covering its proprietary technology and creations for oral vaccination using adenovirus and TLR3 agonists.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, 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 and timing of results from preclinical and clinical trials, commercialization agreements and licenses, and beliefs and expectations of management are forward-looking statements, including statements contained in the quotations of Vaxart’s management in this press release. These forward-looking statements may be accompanied by such words as “should,” “believe,” “could,” “potential,” “will,” “expected,” “anticipate,” “plan,” "target," "seek," "intend," "may," "predict," "project," "would," and other words and terms of similar meaning. Examples of such statements include, but are not limited to, statements regarding the potential of VXA-H5-02 and Vaxart’s oral mucosal vaccine platform to induce protective immune responses against H5N1 or other influenza strains in humans; Vaxart’s ability to maintain or extend its intellectual property protection; Vaxart’s ability to develop and commercialize its product candidates; and Vaxart’s expectations regarding the role of its platform in influenza prevention and pandemic preparedness. These forward-looking statements are based on current expectations, estimates, forecasts, and projections about the industry and markets in which Vaxart operates as well as management’s current beliefs and assumptions. 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, 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; and other risks and uncertainties described in the “Risk Factors” sections of Vaxart’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q filed with the U.S. Securities and Exchange Commission, which are available on the SEC’s website at www.sec.gov. The forward-looking statements in this press release speak only as of the date of this press release. Vaxart undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law.

Contact
Vaxart Media and Investor Relations:
FINN Partners
IR@vaxart.com

Vaxart, Inc.

Condensed Consolidated Balance Sheets

Vaxart, Inc.

Condensed Consolidated Statements of Operations

(Unaudited)