Vaxart, Inc.
VXRT evidence brief
What we can confirm
- BioSniper Score:
- 5.7 / 10
- Market Cap:
- $119.2M
- Lead Asset:
- seasonal influenza vaccine candidate (Phase 2)
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 recombinant pill vaccines based on its proprietary delivery platform, with lead programs in COVID-19 and norovirus.
Key risk: Cash burn and runway
BioSniper Score
Based on 4 of 6 signals
Market Cap
$119.2M
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 recombinant pill vaccines based on its proprietary delivery platform, with lead programs in COVID-19 and norovirus.
- Reported topline 12-month safety data from the sentinel cohort of its Phase 2b COVID-19 trial, with no vaccine-related serious adverse events or sustained Grade 3+ adverse events in either arm [news · 2026-07-07].
- Cash, cash equivalents, and investments of $64.0 million as of June 30, 2026, with runway into the second quarter of 2027 [news · 2026-08-06].
- Total revenue of $27.2M and net income of -$13.5M as of 2026-06-30 [sec].
- Phase 2b COVID-19 trial topline data from the 400-person sentinel safety cohort and approximately 5,000 participants in the main cohort anticipated in the first half of 2027 [news · 2026-08-06].
- Second-generation norovirus vaccine candidate showed robust increases in fecal IgA correlated with protection in a prior Phase 2b challenge study [news · 2025-09-10].
What works
- Oral pill vaccine platform could offer needle-free administration and easier logistics, differentiating from injectable competitors [news · 2026-09-08].
- Positive 12-month safety data for the oral COVID-19 vaccine candidate, with no vaccine-related serious adverse events reported [news · 2026-07-07].
- Second-generation norovirus vaccine candidate induced fecal IgA responses correlated with protection in a prior Phase 2b challenge study [news · 2025-09-10].
- Cash runway into Q2 2027 provides approximately 9-12 months of operating capital based on current burn rate [news · 2026-08-06].
What to weigh
- Net loss of $13.5M in the latest reported period (as of 2026-06-30) indicates ongoing negative cash flow [sec].
- Phase 2b COVID-19 trial results for the main cohort are not expected until the first half of 2027, leaving a long period without pivotal data [news · 2026-08-06].
- Data timelines are controlled by BARDA, limiting the company's ability to independently disclose results [news · 2026-08-11].
- The company is clinical-stage with no approved products, meaning all revenue is from grants/contracts and not from product sales [news · 2026-09-08].
From the filings
Quoted directly from source documents.
Positive 12-month safety data for oral COVID-19 vaccine sentinel cohort
“No vaccine-related serious adverse events (SAEs) or sustained Grade 3 or higher adverse events were reported in either arm of the study.”
News · July 7, 2026
Cash position and runway
“Cash, cash equivalents, and investments of $64.0 million as of June 30, 2026; Runway into second quarter of 2027”
News · August 6, 2026
Second-generation norovirus vaccine candidate data
“Second-generation constructs induce robust increases in fecal IgA, which was shown to be correlated with protection against infection in the company’s previous Phase 2b challenge study”
News · September 10, 2025
Phase 2b COVID-19 trial topline data timeline
“Topline data from 400-person sentinel safety cohort and approximately 5,000 participants in main cohort anticipated in first half of 2027”
News · August 6, 2026
Catalyst timeline
- 2021-10-22 · Phase 2 start for COVID-19 vaccine candidate — Initiated a Phase 2 dose-ranging trial for the oral adenoviral-vector COVID-19 vaccine.
- 2021-12-27 · Phase 2 start for norovirus vaccine candidate — Initiated a Phase 2b challenge study for the oral norovirus vaccine.
- 2023-01-26 · Phase 2 start for seasonal influenza vaccine candidate — Initiated a Phase 2 trial for the oral seasonal influenza vaccine candidate.
Risks & what to watch (4)›
Key risks
- Cash burn and runway — Net loss of $13.5M as of 2026-06-30; cash of $64M provides runway only into Q2 2027 [sec][news·2026-08-06]
- Pivotal data delay
- BARDA-controlled data
- No approved products
What to watch
- Phase 2b COVID-19 trial topline data from the sentinel safety cohort and main cohort, expected in the first half of 2027 [news · 2026-08-06].
- Cash runway updates as the company approaches Q2 2027 [news · 2026-08-06].
- Norovirus vaccine Phase 2 data and any updates from the ongoing Phase 2 challenge study [pipeline].
- Presentations at investor conferences (e.g., H.C. Wainwright September 2026) for platform updates [news · 2026-09-08].
Sources: Catalysts · News · Pipeline · Generated October 11, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
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
5
Total value held
$19K
| Holder | Shares | Value |
|---|---|---|
| heritage wealth advisors | 29,655 | $18K |
| ascentis independent advisors | 2,000 | $1K |
| first command advisory services, inc. | 40 | $24 |
| lvm capital management ltd/mi | 25,000 | $15 |
| archer investment corp | 15 | $9 |
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 recombinant pill vaccines based on its proprietary delivery platform, with lead programs in COVID-19 and norovirus.
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.