August 13, 2025 — Vaxart, Inc. (OTCQX: VXRT) announced its business update and financial results for the second quarter of 2025, highlighting positive topline data from its Phase 1 clinical trial of second-generation oral norovirus vaccine constructs.
The company reported statistically significant increases in antibody responses, suggesting improved protection against norovirus infection. Vaxart’s COVID-19 Phase 2b trial enrolled approximately 5,000 participants before a stop work order was issued; follow-up continues for all participants, including a 400-person sentinel cohort.
As of June 30, 2025, Vaxart had $26.3 million in cash, cash equivalents, and investments, providing a runway into 2026. The company plans a live stockholder fireside chat on August 20, 2025, prior to a special meeting of stockholders.
CEO Steven Lo noted the progress in advancing the oral vaccine platform and the strong enrollment in the COVID-19 trial, which validates the demand for alternatives to current vaccines.
Recent business highlights include norovirus vaccine developments, with plans for a Phase 2b safety and immunogenicity study potentially starting in the second half of 2025, pending funding. COVID-19 vaccine developments include monitoring participants in the Phase 2b trial for up to 12 months post-vaccination, with topline data expected in late 2026.
Vaxart is also advancing its avian influenza program, with its new vaccine demonstrating 100% protection against death in a ferret challenge model.
Second-quarter financial results show revenue of $39.7 million, primarily from government contracts, and a net loss of $15.0 million.
Vaxart will host a conference call today at 4:30 p.m. ET to discuss these results.
Matt Steinberg
FINN Partners
IR@vaxart.com
(646) 871-8481
Source: Vaxart, Inc.
