Vaxart, Inc.
VXRT evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for VXRT—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · VXRT
Vaxart, Inc. is a clinical-stage biotechnology company developing oral tablet vaccines based on its proprietary adenoviral vector platform, with a commercial influenza product (Inavir) generating royalty revenue but no approved tablet vaccine candidates to date.
Key risk: Need for additional capital
BioSniper Score
Based on 5 of 6 signals
Market Cap
$121.6M
Cash Runway
—
Lead Asset
seasonal influenza vaccine candidate (Phase 2)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 1 pipeline candidate · 6 clinical trials for Vaxart, Inc..
Vaxart, Inc. is a clinical-stage biotechnology company developing oral tablet vaccines based on its proprietary adenoviral vector platform, with a commercial influenza product (Inavir) generating royalty revenue but no approved tablet vaccine candidates to date.
- Vaxart reported cash, cash equivalents, and short-term investments of approximately $64.0 million as of August 6, 2026 [sec_mda · as of 2026-08-06].
- The company has generated limited product revenue historically, though it receives royalty revenue from Inavir, a commercial influenza product [sec · filed 2026-05-08].
- Vaxart's tablet vaccine candidates are still in clinical development and have not yet completed a large-scale pivotal trial or obtained marketing approval [sec · filed 2026-05-08].
- The company expects to need additional capital to fund operations beyond the next 12 months and may face challenges securing financing on acceptable terms [sec_mda · as of 2026-08-06].
What works
- Vaxart has a proprietary oral tablet vaccine platform that could offer advantages in ease of administration and storage compared to injectable vaccines [sec_mda · as of 2026-03-13].
- The company has sufficient cash to fund planned operations for at least 12 months from the date of its latest quarterly report [sec_mda · as of 2026-08-06].
- Vaxart generates some royalty revenue from Inavir, a commercial influenza product, providing a modest revenue stream [sec · filed 2026-05-08].
What to weigh
- Vaxart has not yet successfully completed a large-scale pivotal clinical trial or obtained marketing approval for any of its tablet vaccine candidates [sec · filed 2026-05-08].
- The company expects to need additional capital to continue operations beyond the next 12 months, and adequate funding may not be available on acceptable terms [sec_mda · as of 2026-08-06].
- Vaxart's manufacturing capabilities depend on contract manufacturing organizations, and any difficulties could jeopardize clinical supply [sec · filed 2026-05-08].
- The company has a history of operating losses and an accumulated deficit, reflecting its early stage and lack of commercialized tablet vaccines [sec · filed 2026-05-08].
From the filings
Quoted directly from source documents.
Vaxart's cash runway is sufficient for at least 12 months from the latest quarterly report date.
“Our cash, cash equivalents and investments are sufficient to fund our planned operations for at least the period of 12 months from the date of issuance of this Quarterly Report.”
SEC MD&A · August 6, 2026
Vaxart has not yet completed a pivotal trial or obtained marketing approval for its tablet vaccine candidates.
“we are at an early stage in our clinical development process and have not yet successfully completed a large-scale, pivotal clinical trial, obtained marketing approval, manufactured our tablet vaccine candidates at commercial scale, or conducted sales and marketing activities that will be necessary to successfully commercialize our product candidates.”
SEC filings · May 8, 2026
Vaxart expects to need additional capital to continue operations.
“To continue operations, we expect that we will need to raise further capital, through the sale of additional securities or otherwise; however, adequate funding may not be available to us on acceptable terms, or at all”
SEC MD&A · August 6, 2026
Risks & what to watch (4)›
Key risks
- Need for additional capital — Vaxart expects to need further funding to continue operations beyond 12 months; adequate financing may not be available [sec_mda · as of 2026-08-06].
- Clinical and regulatory uncertainty — No tablet vaccine candidate has completed a pivotal trial or obtained marketing approval [sec · filed 2026-05-08].
- Manufacturing dependence — Reliance on contract manufacturers for clinical supply; any disruptions could delay development [sec · filed 2026-05-08].
- Limited product revenue — Vaxart has generated limited product revenue historically, with only modest royalty income from Inavir [sec · filed 2026-05-08].
What to watch
- Progress of clinical trials for tablet vaccine candidates, including any updates on efficacy or safety data [sec_mda · as of 2026-08-06].
- Ability to secure additional financing or partnerships to extend cash runway beyond 12 months [sec_mda · as of 2026-08-06].
- Manufacturing scale-up and regulatory interactions for lead vaccine candidates [sec · filed 2026-05-08].
- Any changes in royalty revenue from Inavir or new commercial agreements [sec · filed 2026-05-08].
Sources: SEC filings · SEC MD&A · Generated August 27, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
Profitable (positive operating cash flow)
D/E 1.01
Lead: Phase 2
1 candidate
No upcoming catalysts tracked
1 buy · 0 sells (180d)
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
1
Total value held
$15
| Holder | Shares | Value |
|---|---|---|
| lvm capital management ltd/mi | 25,000 | $15 |
Short Interest
as of May 22, 2026- % of float
- 9.4%
- Days to cover
- 2.6
- Shares short
- 21,173,323
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
VXRT short interestGovernance
Frequently asked questions
What is the AI investment thesis for Vaxart, Inc.?
Vaxart, Inc. is a clinical-stage biotechnology company developing oral tablet vaccines based on its proprietary adenoviral vector platform, with a commercial influenza product (Inavir) generating royalty revenue but no approved tablet vaccine candidates to date.
What is Vaxart, Inc.'s lead drug candidate?
Vaxart, Inc.'s most advanced tracked candidate is seasonal influenza vaccine candidate (Phase 2) for Norovirus Infections.
Who is the CEO of Vaxart, Inc.?
Mr. Steven Lo is the chief executive officer of Vaxart, Inc. (VXRT).
Where is Vaxart, Inc. headquartered?
Vaxart, Inc. (VXRT) is headquartered in South San Francisco, CA, United States.
What therapeutic areas does Vaxart, Inc. focus on?
Vaxart, Inc. develops therapies across Oncology, Immunology, Infectious Disease, Respiratory.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.