Vaxart Stock Is Moving Higher After The Bell: What's Going On?
Portfolio Pulse from Adam Eckert
Vaxart Inc (NASDAQ: VXRT) shares are trading higher in after-hours trading following updates on business and cash runway. The company announced that proceeds from a recent offering and reimbursements under its Project NextGen award will extend its cash runway into 2026. Vaxart plans to use the funds for a Phase 2b study of its oral COVID-19 vaccine and continues to develop other vaccine programs.
June 17, 2024 | 8:32 pm
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Vaxart Inc shares are up 3.67% in after-hours trading following updates on business and cash runway. The company announced that proceeds from a recent offering and reimbursements under its Project NextGen award will extend its cash runway into 2026. Vaxart plans to use the funds for a Phase 2b study of its oral COVID-19 vaccine and continues to develop other vaccine programs.
The extension of the cash runway into 2026 and the initiation of a Phase 2b study for its oral COVID-19 vaccine are significant positive developments for Vaxart. These updates likely boost investor confidence and contribute to the after-hours price increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100