Vaxart Provides Business Update; Expects Net Proceeds From $40M Offering And Reimbursment Under Project NextGen Award Of Up To $453M To Extend Cash Runaway Into 2026
Portfolio Pulse from Benzinga Newsdesk
Vaxart has announced a business update, highlighting that it expects net proceeds from a $40 million offering and reimbursement under the Project NextGen Award of up to $453 million. This funding is expected to extend the company's cash runway into 2026, allowing it to focus on key clinical and regulatory milestones in its COVID-19 and norovirus programs.
June 17, 2024 | 8:08 pm
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Vaxart expects net proceeds from a $40 million offering and up to $453 million from the Project NextGen Award, extending its cash runway into 2026. This positions the company well to achieve key clinical and regulatory milestones in its COVID-19 and norovirus programs.
The significant funding from the $40 million offering and the Project NextGen Award will provide Vaxart with the necessary capital to extend its cash runway into 2026. This financial stability is crucial for the company to achieve its clinical and regulatory milestones, particularly in its COVID-19 and norovirus programs. Investors are likely to view this as a positive development, potentially driving the stock price up in the short term.
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