- NASDAQ:VXRT fell by 0.35% on Thursday as the stock lagged the NASDAQ index which gained 1.03%.
- Vaxart is banking on a demand for its COVID-19 tablet treatment.
- Vaxart teams up with a pharmaceutical giant to prepare for a flu vaccine in a post-COVID world.
Update April 28: Vaxart Inc (NASDAQ: VXRT) broke its two-month-long consolidative mode to the upside, rocketing nearly 37% to hit two-month highs of $9.48 on Tuesday. In post-market trading. The shares of the South San Francisco-based biotechnology company added another 3.50%, as the stock settled at $8.62. Vaxart posted its highest one-day gain since early February. The price of VXRT skyrocketed after the company announced an upcoming webinar scheduled for May 03, where it expects to release new Phase 1 data supporting the efficacy of its COVID-19 vaccine VXA-CoV2-1. The stocks were on a downtrend after the resignation of two prominent board members in late January.
Update April 12: Vaxart Inc( NASDAQ: VXRT) has extended its decline, closing Friday's session with a fall of 2.47% to close at $5.53. The South San Francisco-based biotechnology company remains one of the laggards in the race to vaccinate the world against COVID-19 and it seems that come investors are losing patience. Nevertheless, bargain-seekers seize on the company's headways into flu immunizations.
NASDAQ:VXRT has been one of the forgotten micro-cap biotech plays as Operation Warp Speed fades into the background. Following the releases of injectable vaccines from Pfizer (NYSE:PFE), Moderna (NASDAQ:MRNA), and AstraZeneca (NASDAQ:AZN), the COVID-19 vaccine discussion has lost its momentum. On Thursday, Vaxart traded relatively flat but still lagged the NASDAQ which once again surged by 1.03% on the strength of a rebound from big tech. Vaxart lost 0.35% during the trading session, and closed the day at $5.67. Vaxart has had a difficult time gaining traction with investors, and is trading well below both its 50-day and 200-day moving averages, signalling its downward trend thus far in 2021.
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Months ago, Vaxart surged on the news of its tablet-form COVID-19 vaccine candidate, named VXA-CoV2-1. This was during a time where logistics for transporting and storing Pfizer’s vaccine was making headlines, so many investors believed Vaxart’s tablet would be an easy solution. Well, here we are, and Pfizer’s vaccine remains in global circulation, while Vaxart received Phase 1 clinical trial data that its efficacy lagged that of Pfizer. Still, if further clinical trials return more positive news, then we could see Vaxart returning to its higher price levels.
VXRT Stock price news
Vaxart is also bringing its tablet form of vaccine to a new partnership with pharmaceutical giant Johnson & Johnson (NYSE:JNJ), to provide a new influenza vaccine moving forward. Although the flu has inexplicably disappeared for the most part during the COVID-19 pandemic, biopharma firms are already preparing for a world after COVID-19 is under control, which may mean a return of the seasonal flu virus.
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