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Vaxart, Inc. (NASDAQ:VXRT), currently trading at $0.46 with a market capitalization of approximately $105 million, announced Tuesday it received a notice from the Nasdaq Stock Market stating that its common stock will be suspended from trading on the Nasdaq Capital Market at the open of trading on July 8, 2025. The notice follows Vaxart’s continued non-compliance with the minimum $1.00 bid price requirement under Nasdaq Listing Rule 5550(a)(2).
According to the company’s statement, Vaxart was first notified on July 2, 2024, that its stock price had closed below $1.00 per share for 30 consecutive business days, resulting in non-compliance with Nasdaq’s minimum bid price rule. The company was given until December 30, 2024, to regain compliance. After not meeting the requirement, Vaxart was granted an additional 180-day period, extending the deadline to June 30, 2025.
On July 1, 2025, Nasdaq staff issued a delisting determination, setting the suspension date for July 8, 2025. Vaxart stated it intends to request a hearing before a Nasdaq Hearings Panel by July 8, 2025. Under Nasdaq rules, a timely hearing request will stay the delisting process but will not prevent the trading suspension. Vaxart’s securities will remain suspended unless the panel decides to reinstate trading on Nasdaq.
The company expects its common stock to begin trading on the over-the-counter market under the symbol “VXRT” starting July 8, 2025. Vaxart has applied to be listed on the OTCQX tier but noted there is no assurance of approval.
This information is based on a statement from Vaxart’s July 2, 2025, SEC filing.
In other recent news, Vaxart, Inc. announced promising results from its Phase 1 trial for its second-generation oral pill norovirus vaccine candidates. The trial, involving 60 healthy volunteers, showed significant increases in norovirus blocking antibody titers, with a 141% increase in GI.1 and a 94% increase in GII.4 at higher doses compared to first-generation constructs. These findings are part of Vaxart’s ongoing discussions with potential partners as the company plans for a Phase 2b study in 2025. Additionally, Vaxart is seeking shareholder approval for a reverse stock split to maintain its Nasdaq listing, with a vote deadline set for May 20, 2025. The proposed split would not exceed a 1-for-20 ratio and aims to ensure compliance with Nasdaq’s listing requirements. In another development, Vaxart received authorization from BARDA to expand its Phase 2b COVID-19 vaccine trial to include 10,000 participants, funded by Project NextGen. This trial will compare Vaxart’s oral vaccine candidate to an approved mRNA COVID-19 vaccine. These recent developments highlight Vaxart’s ongoing efforts in vaccine innovation and maintaining its market presence.
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