Vaxart, Inc. (VXRT), a clinical-stage biotechnology company, has soared 10.72% in aftermarket trading session. Consequently, VXRT stock is changing hands at $7.85 at the time of writing. The increase has come after the positive study results about the impacts of Vaxart Covid vaccine candidate on Covid transmission. On Thursday, VXRT stock closed the day at $7.09 after declining 0.14% during regular hours.
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Positive study results for VXRT Covid vaccine candidate
In the late hours of Thursday, a Duke University-led study showed that the VXRT investigational oral tablet vaccine reduced the airborne transmission of the SARS-CoV-2 virus in an animal model. The study showed that Vaxart’s oral vaccine platform could induce in the recipient robust mucosal and systemic response. The results are consistent with the ones from Vaxart’s Phase II human flu challenge study. The study showed that Vaxart’s oral tablet vaccine reduced shedding better as compared to injectable flu vaccine comparator. The currently approved injected Covid vaccines have a limitation that the airborne transmission could occur in the people who have received them. The researchers vaccinated hamsters orally or intranasally with Vaxart’s Covid vaccine candidate. Afterwards, they exposed them to a significant level of the Covid-19 virus. The vaccinated hamsters quickly cleared the infectious virus in their nose and lungs.
Q2 2021 financial results
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On 5th August, VXRT reported the financial results for the second quarter of the fiscal year 2021, which ended 30th June 2021. According to the results, the company had cash and cash equivalents of $165.26 million on 30th June. The total assets in possession of the company remained at $228.84 million, while the total liabilities were $29.06 million. The revenue for three month period was $112,000, while for an equivalent period of 2020, it was $523,000. The total operating expenses for the period were $15.88 million, while for an equivalent period of 2020, these were $9.04 million. The company suffered a loss of $15.77 million from the operations, while during the equivalent period of 2020; the loss from operations was $8.52 million. The net loss for three month period was $16.11 million, while for an equivalent period of 2020; the net loss was $8.97 million. The net loss per basic and diluted share was $0.13 during the quarter, while during the equivalent three month period of 2020, it was $0.12.
Future for VXRT?
During the last month, VXRT stock has declined by more than 17%, but the recent developments, like the study by Duke University, could turn the tide in favour of VXRT stock in the coming months, according to the analysts. So, potential investors should keep a close eye on VXRT stock in the near future.