Vaxart Inc Stock Price, News & Analysis

Vaxart (NASDAQ: VXRT) has initiated dosing in the 10,000-participant portion of its Phase 2b clinical trial for its oral pill COVID-19 vaccine candidate. The study will compare the efficacy, safety, and immunogenicity of Vaxart's oral vaccine against an approved mRNA COVID-19 vaccine in previously vaccinated adults. This advancement follows a positive 30-day safety review by an independent Data Safety Monitoring Board (DSMB) from the initial 400-participant sentinel cohort. The trial is funded through Project NextGen, with Vaxart receiving up to $460.7 million from BARDA and NIAID. The double-blind, multi-center, randomized, comparator-controlled study represents a significant milestone in developing an alternative to injectable COVID-19 vaccines.

Vaxart (NASDAQ: VXRT) has announced the adjournment of its 2025 annual stockholders meeting to June 2, 2025 at 8:30 a.m. Pacific Time. The virtual meeting will address all proposals from the proxy statement filed on April 10, 2025. The company is particularly focused on gaining stockholder approval for Proposal No. 2 regarding a Reverse Stock Split, which aims to regain Nasdaq compliance for minimum bid price requirements. The Board argues this split would help maintain Nasdaq listing, increase broker/analyst coverage, attract institutional investors, and aid in employee retention. Stockholders of record as of March 26, 2025, can vote until June 1, 2025 at 11:59 p.m. Eastern Time.

Vaxart (NASDAQ: VXRT) announced equity inducement awards for its new Chief Financial Officer, Jeroen Grasman, effective May 19, 2025. The compensation package includes: (1) an option to purchase 1,000,000 shares of common stock, vesting 25% after one year and 1/48th monthly thereafter, with exercise price at grant date closing price, and (2) a restricted stock unit (RSU) award of 350,000 shares, vesting 25% annually over four years. The awards were granted under Vaxart's 2024 Inducement Award Plan, complying with Nasdaq Listing Rule 5635(c)(4) for new employee inducement awards.

Vaxart (VXRT) has announced important amendments to its proxy statement for the upcoming Annual Meeting. The board has approved two key changes contingent on the passage of Proposal #2: limiting the reverse stock split ratio to no more than 1-for-20 and proposing to proportionally reduce the authorized number of common stock shares at a future special stockholder meeting. These changes come as Vaxart faces potential Nasdaq delisting and seeks stockholder approval for the reverse split to maintain its listing status. Leading proxy advisory firms ISS and Glass Lewis support Proposal #2. The company emphasizes that maintaining Nasdaq listing is crucial for stockholder liquidity and institutional investment accessibility. Stockholders can vote on Proposal #2 until May 20, 2025, at 11:59 p.m. ET, with previously cast negative votes eligible for change.

Vaxart (NASDAQ: VXRT) has received BARDA approval to begin dosing in the 10,000-participant portion of its Phase 2b clinical trial for its oral pill COVID-19 vaccine candidate. The double-blind, multi-center study will compare the efficacy, safety, and immunogenicity of Vaxart's oral vaccine to an approved mRNA COVID-19 vaccine in previously vaccinated adults.

The company expects to dose the first patient in Q2 2025. The trial is funded through Project NextGen, a $5 billion BARDA and NIAID initiative, with Vaxart's project award valued at up to $460.7 million through the Rapid Response Partnership Vehicle (RRPV) Consortium.

Vaxart (VXRT) has published complete data from its Phase 2b challenge study of its first-generation oral pill norovirus vaccine candidate in Science Translational Medicine. The study, involving 165 healthy adults, met five of six primary endpoints, demonstrating safety, efficacy, and immunogenicity. Key results include a 30% relative reduction in norovirus infection compared to placebo (p=0.003) and a 21% reduction in norovirus gastroenteritis. The vaccine showed significant increases in serum IgA, IgG, and norovirus-blocking antibodies. Machine learning analyses identified functional blocking antibody and fecal IgA as correlates of protection, which will inform the development of Vaxart's second-generation vaccine candidate. The company initiated a Phase 1 trial comparing first- and second-generation candidates in March 2025, with previous positive results in elderly adults and lactating mothers showing promising outcomes.

Vaxart (NASDAQ: VXRT) reported its Q1 2025 financial results and provided key business updates. The company has begun screening for the 10,000-participant portion of its COVID-19 Phase 2b trial, with dosing expected in Q2 2025. The trial's stop work order was lifted, with potential funding of up to $460.7 million under Project NextGen. Vaxart completed enrollment for its Phase 1 norovirus vaccine trial, with topline data expected mid-2025.

Financial highlights include Q1 2025 revenue of $20.9 million (vs $2.2M in Q1 2024), cash position of $41.9 million, and a reduced net loss of $15.6 million ($0.07 per share). The company appointed Jeroen Grasman as new CFO effective May 19, 2025. In preclinical developments, Vaxart's new avian influenza vaccine showed 100% protection in ferret studies.

Vaxart (NASDAQ: VXRT) has appointed Jeroen Grasman as its new Chief Financial Officer, effective May 19, 2025. Grasman, who brings over 20 years of biotech financial leadership experience, succeeds Phillip Lee, who is stepping down for personal reasons. Lee will remain with the company as a non-executive employee through June 1, 2025, to ensure a smooth transition.

Grasman most recently served as CFO at AltruBio from 2021 to 2025, where he led finance and operations for global clinical studies. His previous roles include VP of Finance and Operations at PACT Pharma, VP of Finance at Intarcia Therapeutics, and a 10-year tenure at Genentech. He holds an MSc in Applied Mathematics from Groningen University and an MBA from Harvard Business School.

Vaxart (VXRT) is addressing stockholder questions regarding a proposed reverse stock split ahead of its Annual Meeting on May 21, 2025. The company is seeking stockholder approval to implement a reverse split ratio between 1-for-5 and 1-for-50 to regain Nasdaq compliance, as its current share price of $0.42 (as of May 9, 2025) falls below the required $1.00 minimum bid price.

The company emphasizes that the reverse split won't change stockholders' investment value or cause dilution, but will result in fewer shares at a higher price. Both leading proxy advisory firms, ISS and Glass Lewis, support the proposal. Management stresses that maintaining Nasdaq listing is crucial for market visibility, trading volume, and future financing opportunities to advance their clinical programs for COVID-19 and norovirus.

The board intends to select a ratio just high enough to resolve the Nasdaq deficiency, with no current plans to implement the maximum 1:50 ratio.