Vaxart Falls Ahead of Oral COVID Variant-Fighting Vaccine Results

Vaxart falls ahead of a presentation that is expected to reveal Phase 1 clinical trials of an oral COVID vaccine showing promise in protecting against variants.
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Vaxart  (VXRT) - Get Report shares fell Monday, reversing gains in premarket trading, ahead of a presentation from the company’s founder and chief scientific officer that is expected to reveal its Phase 1 clinical trials of an oral vaccine that shows promise in protecting against COVID variants.

Shares of Vaxart were up 12.62% at $12.14 in premarket trading ahead of the presentation from its founder and chief scientific officer, Dr. Sean Tucker, on the importance of T-cell immunity in COVID-19 vaccines. 

At the open, the stock fell 7.51% to $9.97. The oral vaccine development firm’s name has popped up frequently in social media chat rooms. 

Tucker will present at the upcoming World Vaccine Congress Washington 2021 that will be held virtually from May 4-6. 

His presentation, titled, “Vaxart oral COVID-19 vaccine; hold the ice and the needles,” will “provide insight into the company’s response and approach to addressing the COVID-19 pandemic with a room temperature oral tablet vaccine that is potentially protective against new and emerging COVID-19 strains.”

Vaxart last week said it would provide new results comparing T-cell responses from its experimental vaccine, VXA-CoV2-1, with other vaccines. It also said Phase I clinical results “suggest VXA-CoV2-1 is potentially protective against new and emerging Covid-19 strains.”

Vaxart shares slumped in February after preliminary Phase 1 trial results that it kicked off last October didn’t show much of a response to then-current strains of COVID.

However, Vaxart CEO Andrei Floroiu said in a statement at the time that the results “highlight the importance of our differentiated vaccine design, as they suggest VXA-CoV2-1 could have broad activity against existing and future coronavirus strains.”

Shares of Vaxart ended the trading day Friday up 17.05% at $10.78.