Gold prices just lower; monthly gains on track
Vaxart Inc. (VXRT) shares tumbled to a 52-week low this week, with the stock price hitting a concerning $0.52. While the stock has declined significantly, InvestingPro analysis suggests the company is currently undervalued, with a market capitalization of approximately $123 million. The biotechnology company, which focuses on developing oral recombinant vaccines, has faced a tumultuous market environment, contributing to a significant decline in its stock value. Despite maintaining more cash than debt on its balance sheet, InvestingPro data indicates the company is quickly burning through cash. Over the past year, the company, previously known as Nabi Pharmaceuticals (NASDAQ:VXRT), has seen its shares decline by approximately 44%, though revenue growth forecasts remain positive for the current year. Investors are closely monitoring the company’s performance and potential recovery strategies as it navigates through these challenging financial waters. InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report, providing deeper analysis of Vaxart’s financial health and future prospects.
In other recent news, Vaxart, Inc. has announced a significant increase in funding for its COVID-19 vaccine trial. An amendment to its agreement with Advanced Technology International, supported by BARDA, adds approximately $105.9 million, bringing the total funding to around $240.1 million. This financial boost supports the ongoing Phase 2b trial of Vaxart’s oral COVID-19 vaccine candidate. Additionally, the company has been advised by an independent safety board to continue its trial, which plans to enroll 10,000 participants pending regulatory approvals.
In another development, Vaxart received a stop work order on a government-funded project from Advanced Technology International, effective for 90 days. This order requires halting activities except for specific follow-up efforts. The company is awaiting further decisions on whether the order will be lifted or extended. Furthermore, Vaxart has been granted an extension by Nasdaq to regain compliance with its minimum bid price requirement, with a new deadline set for June 30, 2025.
Vaxart also announced the appointment of Kevin Finney to its Board of Directors, bringing extensive healthcare expertise to the company. Lastly, Vaxart’s financial position remains bolstered by a BARDA Project NextGen award, ensuring funding into 2026 to support its vaccine development efforts.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.