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BLACK HORSE CAPITAL MANAGEMENT LLC
> NABI
| Date | Name | Ticker | Shares | Change | Value | Change | Price |
| 09/30/2012 | Vaxart, Inc. | NABI | 0 | -85,706 | 0 | -135,000 | |
| 06/30/2012 | Vaxart, Inc. | NABI | 85,706 | -1,908,600 | 135,000 | -3,574,000 | $1.58 |
| 03/31/2012 | Vaxart, Inc. | NABI | 1,994,306 | 1,994,306 | 3,709,000 | 3,709,000 | $1.86 |
| 12/31/2011 | Vaxart, Inc. | NABI | 1,890,006 | 1,890,006 | 3,553,000 | 3,553,000 | $1.88 |
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