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Tuesday, May 30, 2023

Vaxart Inc. (NASDAQ: VXRT) stock soars in the after-hour session. Here’s what’s happening?

Vaxart Inc. (NASDAQ: VXRT) stock surged by 17.05% at last close while the VXRT stock price continues to rise by 8.91% in the after-hours trading. Vaxart is a clinical-stage biotechnology corporation that is working on a variety of oral recombinant vaccines using its own delivery mechanism. Vaxart vaccines are formulated to be given as tablets that can be packaged and delivered without refrigeration, reducing the chance of needle stick injury.

What is happening?

On April 29, 2021 Vaxart announced that Sean Tucker, VXRT’s founder and chief scientific officer, would speak at the upcoming World Vaccine Congress Washington, which will be held digitally from May 4-6, 2021. Investors continue to be looking forward to Vaxart’s management team’s future presentations. Dr. Tucker’s presentation, titled “Vaxart oral COVID-19 vaccine; keep the ice and the needles,” will give attendees an inside look at VXRT’s solution and strategy to combating the COVID-19 pandemic with a room temperature oral tablet vaccine that could defend against current and evolving COVID-19 strains.

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On April 22, Vaxart published a report claiming that if COVID-19 vaccinations should be taken as pills rather than shots, almost 19 million more American adults would have them. Needle injections are an obstacle to having patients vaccinated, according to Vaxart CEO Andrei Floroiu they have a solution that they hope would be successful and will help people to stop injections they don’t want to have. According to the poll, 23% of respondents indicated they do not want to get vaccinated, but about a third said they would if the vaccine was available as a tablet rather than a needle shot

Vaxart’s oral tablet COVID-19 vaccine candidate induced T-cell responses in participants in a phase 1 trial, indicating that it could defend from new coronavirus strains, according to Vaxart. The vaccine from Vaxart was also shown to be well tolerated.

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