Vaxart Bags $453M Worth BARDA-Funded Project, Seeks To Raise $40M Via Equity Offering
Portfolio Pulse from Nabaparna Bhattacharya
Vaxart, Inc. (NASDAQ: VXRT) has secured a $453 million project award from BARDA to fund a Phase 2b study of its oral COVID-19 vaccine. Additionally, Vaxart announced an equity offering to raise $40 million. Despite initial premarket gains, VXRT shares are trading lower by 7.68%.
June 14, 2024 | 2:06 pm
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Vaxart has secured a $453 million project award from BARDA to fund a Phase 2b study of its oral COVID-19 vaccine. Additionally, the company announced an equity offering to raise $40 million. Despite initial premarket gains, VXRT shares are trading lower by 7.68%.
The $453 million BARDA award is a significant positive development for Vaxart, providing substantial funding for its COVID-19 vaccine study. However, the announcement of a $40 million equity offering has likely contributed to the short-term decline in share price due to dilution concerns. The overall impact is positive due to the large funding award, but the equity offering has tempered immediate gains.
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