(MENAFN - Baystreet.ca) Vaxart, Inc. (NASDAQ:VXRT) rose Tuesday after the company said new data obtained from Phase I COVID-19 trial 'added to the evidence' suggesting VXA-CoV2-1 shows broad cross-reactivity against other coronaviruses.
The San Francisco-based Vaxart is an American biotechnology company focused on the discovery, development, and commercialization of oral recombinant vaccines administered using temperature-stable tablets that can be stored and shipped without refrigeration, eliminating the need for needle injection.
Its development programs for oral vaccine delivery (called VAAST) include prophylactic, enteric-coated tablet vaccines for inhibiting norovirus, seasonal influenza, respiratory syncytial virus, and human papillomavirus.
Vaxart has a collaborative development program for oral delivery of a vaccine against universal flu using proprietary antigens from Janssen Pharmaceutica (Janssen Vaccines and Prevention B.V.).
In January 2020, Vaxart announced development of a tablet vaccine to inhibit COVID-19. Some of its competitors are companies such as Novavax, Inovio Pharmaceuticals, and Moderna (NASDAQ:MRNA).
In February 2020, Vaxart began a program to develop an oral tablet vaccine for COVID-19.
In April, the company reported positive immune responses in laboratory animals from its tests with a vaccine candidate for COVID-19.
In October 2020, Vaxart was under investigation by the Securities and Exchange Commission and federal prosecutors after the company may have exaggerated its role in and investment from Operation Warp Speed.
VXRT stock climbed 88 cents, or 11%, to $8.90.
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