Vaxart advances Phase 2b COVID-19 vaccine trial

Published 14/01/2025, 14:18
Vaxart advances Phase 2b COVID-19 vaccine trial

SOUTH SAN FRANCISCO - Biotechnology company Vaxart, Inc. (NASDAQ:VXRT), currently trading at $0.72 with a market cap of $164 million, announced today that it is moving forward with its oral COVID-19 vaccine candidate after an independent Data and Safety Monitoring Board (DSMB) recommended the continuation of its Phase 2b study. According to InvestingPro analysis, the company appears undervalued based on its Fair Value assessment. The DSMB's review of the 30-day safety data from the sentinel cohort has paved the way for the next phase, which will enroll approximately 10,000 participants upon a favorable review from the U.S. Food and Drug Administration (FDA) and approval from the Biomedical Advanced Research and Development Authority (BARDA).

The company's norovirus vaccine program is also making strides, with a Phase 1 trial set to begin in the first half of 2025. This trial will compare second-generation vaccine constructs against the first-generation, aiming to identify the most promising candidate for further development.

In addition, Vaxart is conducting preclinical studies on a new avian influenza vaccine candidate designed to tackle clade 2.3.4.4b, with the intent to prepare it for clinical use upon successful results.

Vaxart's financial outlook appears secure, with funding from a BARDA Project NextGen award of up to $460.7 million, combined with existing cash reserves, expected to sustain the company into 2026. InvestingPro data shows the company holds more cash than debt on its balance sheet, though it's quickly burning through cash with a negative EBITDA of $62.8 million in the last twelve months. The company's financial health score stands at 2.36, rated as "FAIR" by InvestingPro's comprehensive analysis. This funding is set to support key clinical and regulatory milestones, with the company also exploring partnerships and non-dilutive funding options to extend its cash runway.

The company's oral vaccine platform is central to its strategy, with the aim of developing vaccines that are easier to distribute and administer than traditional injectable vaccines. Vaxart's pipeline includes vaccines for coronavirus, norovirus, influenza, and a therapeutic vaccine for human papillomavirus (HPV).

This news is based on a press release statement from Vaxart, Inc. and has not been independently verified. The company's forward-looking statements involve risks and uncertainties, and there can be no assurance that the plans, intentions, or expectations will be achieved. The FDA's review of the trials and studies is ongoing, and the outcomes will be pivotal for the progression of Vaxart's vaccine candidates. Analysts maintain a strong buy consensus with price targets ranging from $2.50 to $8.00, though they don't expect profitability this year. For deeper insights into Vaxart's financial health and growth potential, access the complete Pro Research Report, available exclusively on InvestingPro, along with 10+ additional ProTips and comprehensive financial metrics.

In other recent news, Vaxart Inc., a biopharmaceutical company, has seen several developments. The company has been granted an extension until June 30, 2025, to regain compliance with the Nasdaq Capital Market's minimum bid price requirement. Despite this, the company's stock continues to trade on the Nasdaq as it explores options to meet the bid price requirement. In addition, Vaxart has secured an additional $4.6 million for a Phase 2b trial of its oral COVID-19 vaccine candidate, raising the total potential funding to approximately $460.7 million. This development reflects confidence in the potential of Vaxart's oral vaccine approach. The company reported a significant increase in revenue for the third quarter of 2024, jumping from $2.1 million in the same period the previous year. Despite holding more cash than debt, the company is rapidly depleting its cash reserves, according to InvestingPro. Vaxart's ongoing Phase 2b study of their oral COVID-19 vaccine is progressing well, with initial dosing expected to be completed soon. The company's Norovirus and HPV vaccine programs are also advancing, with promising developments reported.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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