Why shares of Vaxart Inc. (VXRT) are rising in premarket trading? – Stocks Register

Why shares of Vaxart Inc. (VXRT) are rising in premarket trading?

Vaxart, Inc. (Nasdaq: VXRT), a clinical-stage biotechnology company specializing in the discovery, development, and commercialization of oral recombinant vaccines, announced that its founder and chief scientific officer, Sean Tucker, will be giving a presentation at the upcoming World Vaccine Congress Washington on May 4-6, 2021. The presentation will be titled “Vaxart oral COVID-19 vaccine; hold the ice and the needles,” and will provide information regarding the oral tablet vaccine potentially efficient against new covid-19 strains. VXRT stock surged adjacent to the news

The World Vaccine Congress is an extremely established and renowned meeting for the development of vaccines. The meeting covers the whole vaccine and brings together, science, government, and manufacturers to create immense progress.

At last check-in premarket trading, shares of Vaxart Inc. (VXRT) were up 2.93% at $9.48. Vaxart Inc.’s stock added 9.12% to finish last trading session at $9.21. During the trading session, the stock oscillated between $8.92 and $11.00.  In the past 12 months, the company’s stock has advanced 207.00%, and in the last one week, the stock has moved up 59.90%.

About Vaxart

Vaxart’s oral tablet vaccine VXA-CoV2-1. will bypass concerns of expensive transportation of injection-based vaccines and increase the rate of population being immunized as no healthcare professionals may be needed for administering the vaccines.VXRT is focusing on the drugs potential to be effective against new variants, due to targeting nucleoproteins as well as spike proteins, inducing a T cell response, With T-cell responses being linked to protection against newer strains.

The first phase of VXA-CoV2-1 Clinical trials was deemed successful, with the drug meeting its primary and secondary endpoints. In accordance to agreement with Kindred Biosciences to facilitate the development and production of COVID-19 vaccine, the company’s plant-based in California will see the scaling of clinical trial material into mid-sized bioreactors and will also use bioreactors in Kansas to manufacture at a 2000 liter volume.

VXRT has also initiated an agreement with Attwell Vascular Technologies that specializes in the processing of specific compounds as well as tableting the compounds to be used in VXA-CoV2-1. The company has increased the number of its employees to 49 with hiring having been conducted in manufacturing, research, and development space.

Conclusion

The company is in the process of preparing for second phase of trials. Strong strategic positions combined with a solid liquidity position has given the company a significant role in the race for public immunization, with shareholders hopeful for the future of the company.


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