Vaxart Inc Stock Price, News & Analysis

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.

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.

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.

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.

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.

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.

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.