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Vaxart, Inc. - VXRT STOCK NEWS

Welcome to our dedicated page for Vaxart news (Ticker: VXRT), a resource for investors and traders seeking the latest updates and insights on Vaxart stock.

Vaxart, Inc. (symbol: VXRT) is a clinical-stage biotechnology company dedicated to transforming vaccine delivery through its innovative oral recombinant vaccine platform. Founded in 2004, Vaxart's primary focus is the development of vaccines in tablet form, offering a needle-free alternative that is easy to administer and store. This proprietary technology aims to revolutionize the global vaccine market, addressing common diseases such as Coronavirus, Norovirus, Seasonal Influenza, Respiratory Syncytial Virus (RSV), and Human Papillomavirus (HPV).

Headquartered in the United States, Vaxart operates in a single segment focused exclusively on the discovery and development of these groundbreaking oral recombinant protein vaccines. The company has made significant strides in the clinical development of its diverse pipeline, with several candidates currently undergoing trials. Vaxart’s oral vaccines are designed to simplify distribution and administration, potentially increasing vaccination rates and improving global health outcomes.

Recent achievements for Vaxart include the ongoing development and testing of its oral COVID-19 vaccine candidate, which has shown promise in preclinical studies and early-phase clinical trials. This innovation could play a crucial role in global vaccination efforts, especially in regions where cold-chain requirements pose logistical challenges. Other notable projects include the development of oral vaccines for Norovirus and Influenza, which are also advancing through various stages of clinical testing.

Financially, Vaxart remains focused on strategic partnerships and funding opportunities to support its research and development initiatives. The company's recent financial results for the full year ended December 31, 2023, and the first quarter ended March 31, 2024, reflect its ongoing commitment to advancing its oral vaccine candidates through clinical trials and towards regulatory approval.

For more information and the latest updates, contact Vaxart Media Relations: Mark Herr (mherr@vaxart.com, 203-517-8957) or Investor Relations: Andrew Blazier (IR@vaxart.com, 646-871-8486).

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Vaxart (VXRT) announced a significant business update, revealing an extended cash runway into 2026, bolstered by a $453 million Project NextGen award from BARDA and a $40 million financing round. The funds will advance its oral pill vaccine platform, targeting COVID-19 and norovirus. A 10,000-subject Phase 2b study for their COVID-19 vaccine is set to begin in summer 2024, with interim efficacy analysis expected in Q1 2025. Feedback from the FDA for the norovirus vaccine is anticipated by mid-2024, potentially leading to further studies. Vaxart is also progressing in early-stage programs for influenza and HPV, driven by recent bird flu outbreaks.

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Vaxart (Nasdaq: VXRT) has announced an underwritten offering of 50 million shares of its common stock at $0.80 per share, a premium over the last closing price of $0.75 per share. The offering is expected to generate gross proceeds of $40 million, before deducting underwriting discounts, commissions, and other expenses. The offering is scheduled to close around June 17, 2024, subject to customary conditions. Oppenheimer & Co. is the sole bookrunner for the offering. The shares are being offered under an effective shelf registration previously filed with the SEC, and additional details are available in the prospectus supplement to be filed with the SEC.

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Vaxart (VXRT) has received a BARDA-funded Project NextGen award valued up to $453 million for a Phase 2b study of its oral COVID-19 vaccine candidate. The study will involve 10,000 subjects and compare the oral vaccine to an FDA-approved mRNA vaccine. Preliminary enrollment is expected by summer 2024, with interim efficacy results as early as Q1 2025. Initial funding of $65.7 million will support study preparations, with an additional $387.2 million provided based on study progress. Previous trials showed the vaccine's effectiveness against various SARS-CoV-2 variants and strong immune responses.

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On May 23, 2024, Vaxart announced inducement equity awards granted on May 17, 2024, to a new non-executive employee. The awards include an option to purchase 15,000 shares of Vaxart’s common stock, vesting over four years, and 7,500 restricted stock units (RSUs), vesting 25% annually for four years. These awards were issued under Vaxart's 2024 Inducement Award Plan in accordance with Nasdaq Listing Rule 5635(c)(4). This plan is specifically used to attract new employees not previously with Vaxart or rejoining after a bona fide period of non-employment.

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Vaxart (Nasdaq: VXRT) reported positive Phase 1 results for its oral pill norovirus vaccine in lactating mothers. The company plans to start a Phase 2b study for its XBB COVID-19 vaccine by Q2 2024. Vaxart aims to meet the FDA in mid-2024 to discuss its norovirus program. Financially, Vaxart posted a Q1 2024 net loss of $24.4M, improved from $25.1M in Q1 2023. Revenues rose to $2.2M from $0.7M in Q1 2023, primarily due to BARDA contract work. Cash reserves are $36.7M, sufficient until late Q4 2024. R&D expenses decreased to $19.0M, while G&A expenses increased to $7.2M.

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Vaxart, Inc. (NASDAQ: VXRT) will host a conference call on May 13, 2024, to provide a business update and report financial results for the first quarter ending March 31, 2024. Investors can access the conference call online or by phone, and submit questions in advance. A replay will be available on the company's website.

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Vaxart, Inc. (Nasdaq: VXRT) announced positive results for its bivalent norovirus vaccine candidate in lactating mothers. The Phase 1 clinical trial showed a significant rise in antibodies to norovirus in breast milk, with no serious adverse events reported. The goal is to provide passive antibody transfer to protect infants against the virus, which affects millions annually.

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Vaxart, Inc. (VXRT) announced that Dr. Sean Tucker will present at the World Vaccine Congress Washington 2024. The presentation focuses on oral tablet vaccination to enhance existing vaccines and block transmission. The event is scheduled for April 3, 2024, at 3:10 p.m. ET.
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Vaxart, Inc. announced equity awards for its new President and CEO, Steven Lo, including 1,000,000 stock options and 250,000 restricted stock units. The options vest over time, and the awards were granted under an inducement award plan.
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Vaxart, Inc. announces significant progress in preparing for a Phase 2b study evaluating its oral pill XBB COVID-19 vaccine, appoints Steven Lo as President and CEO, and reports financial results for full year 2023. The company received a $9.27 million contract for a Phase 2b clinical study against an approved mRNA vaccine. Vaxart also published preclinical data showing immune responses against multiple SARS-CoV-2 variants. In the norovirus vaccine space, the company completed enrollment in a Phase 1 study in lactating mothers and expects topline data in mid-2024. Financially, Vaxart reported $39.7 million in cash and investments as of December 31, 2023, with a net loss of $82.5 million for 2023 compared to $107.8 million in 2022. Revenue for 2023 was $7.4 million, primarily from grants and royalties. Research and development expenses decreased to $68.1 million in 2023, while general and administrative expenses were $22.6 million.
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FAQ

What is Vaxart, Inc. known for?

Vaxart, Inc. is known for developing oral recombinant vaccines in tablet form, targeting diseases like COVID-19, Norovirus, Influenza, RSV, and HPV.

When was Vaxart, Inc. founded?

Vaxart, Inc. was founded in 2004.

What is Vaxart's proprietary technology?

Vaxart's proprietary technology is an oral vaccine delivery platform that transforms vaccines into tablet form, eliminating the need for injections.

Where is Vaxart, Inc. headquartered?

Vaxart, Inc. is headquartered in the United States.

What are some diseases Vaxart's vaccines target?

Vaxart's vaccines target diseases including Coronavirus, Norovirus, Seasonal Influenza, Respiratory Syncytial Virus (RSV), and Human Papillomavirus (HPV).

How is Vaxart's oral vaccine beneficial?

Vaxart's oral vaccines are easy to administer, do not require needles, and simplify distribution, which can increase vaccination rates and improve global health outcomes.

What recent achievements has Vaxart made?

Recent achievements include ongoing development and testing of its oral COVID-19 vaccine candidate and advancements in oral vaccines for Norovirus and Influenza.

What is Vaxart's financial condition?

Vaxart's financial condition is focused on strategic partnerships and funding opportunities to support its research and development initiatives. Recent financial results reflect ongoing commitment to advancing vaccine candidates.

How can I contact Vaxart for more information?

For more information, contact Vaxart Media Relations: Mark Herr (mherr@vaxart.com, 203-517-8957) or Investor Relations: Andrew Blazier (IR@vaxart.com, 646-871-8486).

What segment does Vaxart operate in?

Vaxart operates in a single segment focused exclusively on the discovery and development of oral recombinant protein vaccines.

Vaxart, Inc.

Nasdaq:VXRT

VXRT Rankings

VXRT Stock Data

118.93M
227.43M
1.15%
22.96%
11.27%
Biological Product (except Diagnostic) Manufacturing
Manufacturing
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United States of America
SOUTH SAN FRANCISCO