Vaxart Stock Climbs After Blockbuster Q1 Revenue
Portfolio Pulse from Erica Kollmann
Vaxart, Inc. (NASDAQ:VXRT) reported Q1 financial results with a loss of 14 cents per share, aligning with analyst estimates. However, quarterly sales of $2.181 million significantly exceeded expectations, marking a 223.11% increase year-over-year. The company is advancing its clinical programs, including a Phase 2b study for its oral COVID-19 vaccine and discussions with the FDA regarding its norovirus vaccine candidate. Shares surged 12.24% after-hours following a 16.31% increase during regular trading.
May 13, 2024 | 8:30 pm
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POSITIVE IMPACT
Vaxart's Q1 earnings report showed strong sales growth and progress in its vaccine development programs, leading to a significant after-hours stock price increase.
The substantial beat on quarterly sales expectations and the positive progress in vaccine development, especially with BARDA's support for the COVID-19 vaccine study, are likely to boost investor confidence in the short term. The after-hours stock price movement indicates a positive market reaction to the news.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100