Vaxart Reports Q2 2024 Results and Secures BARDA Contract

Vaxart, Inc. has announced its financial results for the second quarter of 2024, showcasing a significant contract worth $453 million from the Biomedical Advanced Research and Development Authority (BARDA) for its COVID-19 vaccine initiative. The company also reported encouraging outcomes from its norovirus vaccine program, particularly from a Phase 1 trial.

In an effort to advance its vaccine candidates, Vaxart highlighted ongoing discussions with the FDA, along with plans to commence a large-scale Phase 2b COVID-19 trial later this year. The company reported earnings of $6.4 million for the quarter, primarily due to the BARDA contract, and concluded with cash reserves totaling $62.6 million. Additionally, Vaxart received an extra $64.7 million payment from BARDA shortly after the quarter, extending its financial runway into 2026.

### Key Highlights:
– Vaxart secured a $453 million contract from BARDA for its COVID-19 vaccine program.
– Positive results were obtained from a Phase 1 trial for the norovirus vaccine.
– Ongoing discussions with the FDA encompass both COVID-19 and norovirus vaccine programs.
– A Phase 2b COVID-19 trial is scheduled for the latter half of 2024, aiming to involve roughly 10,000 participants.
– Second-quarter revenue reached $6.4 million, largely due to the BARDA contract.
– The company concluded the quarter with $62.6 million in cash and has received an additional $64.7 million post-quarter.
– Vaxart’s cash position is anticipated to sustain operations through 2026.

### Company Outlook:
Vaxart plans to launch the Phase 2b COVID-19 trial in the latter half of 2024, pending FDA approval, targeting high-risk participants. The company is also working on enhancing vaccine constructs for other diseases, including avian influenza, and is pursuing further funding.

### Challenges and Opportunities:
While specific details about FDA discussions and trial designs were not disclosed, Vaxart’s mucosal vaccine technology aligns well with government objectives for next-generation vaccines and pandemic preparedness. The company perceives the recent failure of HillVax’s norovirus vaccine in a Phase 2b trial as an opportunity to demonstrate the strengths of its mucosal response.

In summary, Vaxart is positioning itself as a significant player in the vaccine development sector. With robust funding from BARDA and advancements in its vaccine programs, the company appears well-equipped to navigate the biotechnology landscape and meet critical health challenges.