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- Vaxart (NASDAQ:VXRT) is up ~10% in after-hours trading Monday after reporting Q1 results that beat on the top line and saying it could launch a phase 2 trial of its oral pill XBB COVID-19 vaccine candidate against an approved mRNA vaccine as early as this quarter.
- The company’s bottom line results were in-line.
- “Recent preclinical data suggests our COVID-19 XBB construct showed a more robust immunogenic response compared with our previous constructs,” CEO Steven Lo said in a news release. “With a potentially superior construct, we are exploring whether certain changes we implemented in this vaccine candidate will also be beneficial for other indications in our pipeline.”
- In the quarter, Vaxart’s net loss narrowed ~3% year over year to $24.4M. Net loss per share went to -$0.14 from -$0.19.
- As of the end of the quarter (March 31), Vaxart (VXRT) reported cash, cash equivalents and investments of ~$36.7M compared to ~$39.7M on Dec. 31, 2023. The company said its cash runway should last into late Q4.
