Vaxart secures $105.9 million more for COVID-19 pill vaccine trial

Vaxart, Inc. (NASDAQ: VXRT) announced on Monday an amendment to its funding agreement with Advanced Technology International, which is backed by the Biomedical Advanced Research and Development Authority (BARDA). According to InvestingPro data, the company maintains a relatively strong balance sheet with more cash than debt, though it faces challenges with cash burn rates. The modification, dated February 7, 2025, significantly increases the financial support for the ongoing Phase 2b clinical trial of the company's oral COVID-19 vaccine candidate.

This latest modification adds approximately $105.9 million to the project, bringing the total available funding to around $240.1 million. The trial aims to evaluate the efficacy and safety of Vaxart's oral pill vaccine, comparing it against an mRNA vaccine that has received U.S. Food and Drug Administration approval.

Vaxart has completed enrollment for the initial part of the study, which involved around 400 participants and focused on the company's oral pill XBB vaccine candidate. An independent data safety monitoring board has recommended the study continue without changes after a preliminary 30-day safety assessment.

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