Vaxart Shares Surge 32% Amid COVID-19 Vaccine Progress
By ATTN Desk · Editorial oversight: Sean Han
Vaxart Inc (NASDAQ: VXRT)
1. Introduction
Vaxart Inc (ticker: VXRT; name_ko: 백스아트) is a clinical-stage biotechnology company headquartered in South San Francisco, California. Founded in 2004, Vaxart develops temperature-stable, oral recombinant vaccines delivered via enteric-coated tablets. Its platform is designed to induce both mucosal and systemic immunity against viral diseases without the need for needles or refrigeration.
2. Corporate Structure and Leadership
- Founding: 2004 (as West Coast Biologicals, Inc.); renamed Vaxart, Inc. in July 2007 upon reincorporation in Delaware.
- Headquarters: South San Francisco, California
- Employees: 51–200
- Key Executives:
- Chief Executive Officer: Steven Lo
- Chief Scientific Officer & Founder: Sean Tucker
- Chief Financial Officer: Jeroen Grasman (effective May 19, 2025)
- Board Actions: On May 29, 2025, shareholders were asked to authorize a reverse stock split to meet Nasdaq’s minimum bid price requirement.
3. Developments and News
- January 2024: Awarded a $9.27 million grant from the U.S. Biomedical Advanced Research and Development Authority (BARDA).
- May 13, 2025: Announced the appointment of Jeroen Grasman as CFO, succeeding Phillip Lee.
- May 29, 2025: Filed a definitive proxy (DEFA14A) seeking approval for a reverse stock split; voting deadline June 1, 2025.
- June 5, 2025: Management discussed company updates at the Jefferies Healthcare Conference.
- June 13, 2025:
- Stock closed at $0.7097, up 32.16% on volume of 11,630,015 shares.
- Initiated dosing of the first participant in the 10,000-person portion of its Phase 2b COVID-19 oral vaccine trial.
- June 16–19, 2025: Attending the BIO International Convention in Boston to discuss norovirus Phase 1 topline data with industry stakeholders.
4. Financial and Strategic Analysis
| Metric | Value |
|---|---|
| Share Price (June 13, 2025) | $0.7097 (+32.16%) |
| Volume (June 13, 2025) | 11,630,015 |
| Market Cap (intraday) | $161.3 million |
| 52-Week Range | $0.28 – $1.07 |
| Average Volume (3M) | 3,645,303 |
| Price/Sales (TTM) | 2.46 |
| Price/Book (MRQ) | 2.69 |
| EV/Revenue | 2.06 |
| Revenue (TTM) | $47.4 million |
| Net Income (TTM) | - $58.1 million |
| Profit Margin | -122.63% |
| Return on Assets (TTM) | -28.90% |
| Return on Equity (TTM) | -114.74% |
| Total Cash (MRQ) | $41.94 million |
| Total Debt/Equity (MRQ) | 45.07% |
| Levered Free Cash Flow (TTM) | $50.39 million |
| Beta (5Y Monthly) | 1.15 |
| 1-Year Target Estimate (Analysts) | $4.67 |
Strategic Initiatives:
- Vaccine Pipeline:
- Norovirus (Phase 1 completed; Phase 2 topline expected mid-2025)
- COVID-19 (ongoing Phase 2b, 10,000 participants)
- Seasonal influenza, RSV, HPV (preclinical/clinical)
- Regulatory & Partnerships: Collaboration with BARDA; intellectual property covering oral delivery using adenovirus vectors and TLR3 agonists.
- Corporate Action: Proposal for a reverse stock split to meet Nasdaq listing requirements.
5. Market Position and Industry Context
- Differentiation: Oral pill vaccines targeting mucosal immunity, addressing cold-chain logistics and needle-related barriers.
- Competitive Landscape: Includes mRNA and protein-based injectable vaccine developers (e.g., Moderna, Novavax, Pfizer).
- Market Trends: Increased interest in next-generation vaccine platforms that improve accessibility and rapid deployment.
- Risks: Outcomes of clinical trials, regulatory approvals, market adoption of oral vaccines, and capital requirements for late-stage development.
TL;DR
- On June 13, 2025, VXRT shares rose 32.16% to $0.7097 on 11.63 million volume amid clinical progress.
- Phase 2b dosing in a 10,000-participant COVID-19 oral vaccine trial has commenced.
- Shareholders have been asked to approve a reverse stock split proposal to comply with Nasdaq rules by June 1, 2025.
- CFO Jeroen Grasman joined on May 19, 2025, bringing over 20 years of financial leadership experience in the biotech sector.
- Norovirus Phase 1 data were presented, with Phase 2 topline results anticipated mid-2025.
- Upcoming participation at the BIO International Convention (June 16–19) will facilitate discussions with potential partners regarding the vaccine pipeline.