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Vaxart Shares Rise 95% After Signing Agreement for Oral Tablet COVID-19 Vaccine

Source: Streetwise Reports

 

June 26, 2020 (Investorideas.com Newswire) Shares of Vaxart Inc. nearly doubled after the company reported that it has signed a Memorandum of Understanding with Attwill Medical Solutions Sterilflow to enable production of a billion or more tablet COVID-19 vaccine doses annually.


Clinical-stage biotechnology company Vaxart Inc. (VXRT:NASDAQ), which develops oral vaccines administered by tablet, today announced that "it signed a Memorandum of Understanding with Attwill Medical Solutions Sterilflow, LP (AMS) affirming the parties' intent to establish AMS as a resource for lyophilization development and large scale manufacturing including tableting and enteric coating for Vaxart's oral COVID-19 vaccine."

The firm indicated that once a formal agreement is finalized and executed, AMS will be allocating resources and equipment for ramping up commercial production of the vaccine.

Vaxart CEO Andrei Floroiu commented, "We believe AMS' experience coupled with its ability to manufacture a billion or more doses per year would be a beneficial addition to our group of CDMO partners and enable the large scale manufacturing and ultimate supply of our COVID-19 vaccine for the US, Europe and other countries in need...We believe our oral vaccines, generated on our proven platform, have the potential to offer superior protection against airborne viruses such as SARS-CoV-2 by triggering both mucosal and systemic immunity while being administered by a room temperature-stable tablet, an enormous logistical advantage in large vaccination campaigns."

Vaxart is a clinical-stage biotechnology company based in South San Francisco, Calif. The firm focuses its efforts on the development of oral tablet vaccines for use in a wide range of infectious diseases.

Vaxart began the day with a market capitalization of around $236.6 million with approximately 74.18 million shares outstanding and a short interest of about 5.50%. VXRT shares opened 13% higher today at $3.61 (+$0.42, +13.17%) over yesterday's $3.19 closing price and reached a new 52-week high price today of $6.48. The stock has traded today between $3.45 to $6.48 per share and closed at $6.26 (+$3.07, +96.24%).

Disclosure:

1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.

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3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

6) This article does not constitute medical advice. Officers, employees and contributors to Streetwise Reports are not licensed medical professionals. Readers should always contact their healthcare professionals for medical advice.


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