Vaxart inventory plummeted Monday forward of a key presentation for its oral Covid vaccine and after the corporate reported rising first-quarter losses.
X
The biotech firm misplaced 14 cents per share, rising from a 2-cent loss within the year-earlier interval. Revenue declined practically 83% to $506,000 as a consequence of decrease royalty funds out of Japan for a seasonal flu drug. Vaxart (VXRT) additionally reported a virtually sixfold enhance in analysis and growth bills because of the prices of testing vaccines for Covid-19 and the norovirus.
If licensed for emergency use, the Covid vaccine may very well be a serious boon for Vaxart inventory. According to this month’s IBD/TIPP Poll, greater than one-quarter of Americans are hesitant to get a Covid jab. Vaxart says 19 million extra Americans would get inoculated if the vaccine got here in tablet kind. As it’s, present Covid vaccines require one or two pictures.
That determine might enhance, “particularly given the distribution advantages of a room-temperature stable tablet,” Vaxart Chief Executive Andrei Floroiu mentioned in a written assertion. “That alone could potentially make a significant global impact.”
But on the stock market today, Vaxart inventory tumbled 25.6% to eight.02.
Vaxart Stock Dives Ahead Of Presentation
The dive for Vaxart inventory comes forward of Chief Scientific Officer Sean Tucker’s presentation late Tuesday through the World Vaccine Congress Washington 2021.
The presentation is titled “Vaxart oral Covid-19 vaccine; hold the ice and the needles.” It will possible give attention to the advantages of a tablet vaccine vs. the injectable vaccines, which require chilly transportation and storage. Highly efficient vaccines from Pfizer (PFE) and Moderna (MRNA) additionally require two injections. The Johnson & Johnson (JNJ) inoculation requires only one shot.
Other vaccines are additionally doubtlessly across the nook for the U.S. Novavax (NVAX) has a two-shot vaccine into account. AstraZeneca‘s (AZN) vaccine is allowed internationally and likewise requires double injections. But AstraZeneca hasn’t — and may not — ask for authorization within the U.S.
On a year-to-date foundation, Vaxart inventory has surged greater than 53%. But that is after closing 2020 under 6 per share.
Follow Allison Gatlin on Twitter at @IBD_AGatlin.
YOU MAY ALSO LIKE:
AbbVie Stock Nears Breakout After First-Quarter Beat And Raise
Breakout Success: BioNTech Stock Pops On Covid Vaccine For Teens
Get Timely Buy & Sell Alerts With IBD Leaderboard
Looking For The Next Big Stock Market Winners? Start With These 3 Steps
