Vaxart (NASDAQ: VXRT) Increases Funding for COVID-19 Vaccine Trial

Vaxart, Inc., a Delaware-based biotechnology company, announced in an 8-K filing with the Securities and Exchange Commission dated December 20, 2024, that it has entered into Modification No. 4 to its Project Agreement. This modification increases the total estimated ceiling for funding to approximately $460.7 million, up by about $4.6 million. Additionally, the total funding currently allotted to the Phase 2b comparative study, comparing Vaxart’s oral pill XBB COVID-19 vaccine candidate with an FDA-approved mRNA vaccine, has been increased to approximately $134.2 million, a rise of roughly $37.7 million.

Part of the additional funding will be allocated for acquiring and distributing the mRNA comparator and other clinical materials to clinical sites involved in the trial. It will also aid in preparing these sites for the main efficacy and safety phase of the study.

The details of the Modification are set to be included as an exhibit in Vaxart’s upcoming periodic report. The Company highlighted the importance of the additional funding in its ongoing efforts regarding clinical and regulatory development plans for its product candidates. However, it also noted that forward-looking statements involve inherent risks and uncertainties, warning investors that actual results may differ from anticipated outcomes due to various factors.

Vaxart emphasized the significance of milestone achievements and successful outcomes in the trial, while also acknowledging risks associated with continuing operating losses. The Company committed to updating stakeholders as necessary under applicable laws.

The filing was signed on December 27, 2024, by Steven Lo, President and Chief Executive Officer of Vaxart, Inc.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Vaxart’s 8K filing here.

About Vaxart

Vaxart, Inc, a clinical-stage biotechnology company, discovers and develops oral recombinant protein vaccines based on its proprietary oral vaccine platform. The company’s product pipeline includes norovirus vaccine, a bivalent oral tablet vaccine in Phase 2 clinical trial for the GI.1 and GII.4 norovirus strains; coronavirus vaccine, which is in Phase 2 clinical trial, for the treatment of SARS-CoV-2 infection; seasonal influenza vaccine, which is in Phase 2 clinical trial, to treat H1 influenza infection; and human papillomavirus therapeutic vaccine, which is in preclinical stage, that targets HPV-16 and HPV-18 for cervical cancers and precancerous cervical lesions.