Vaxart, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 04:31 pm EDT
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Vaxart, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported revenue was USD 1.36 million. Net loss was USD 22.55 million compared to USD 29.43 million a year ago. Basic loss per share from continuing operations was USD 0.16 compared to USD 0.23 a year ago.
For the six months, revenue was USD 2.03 million compared to USD 0.085 million a year ago. Net loss was USD 47.69 million compared to USD 54.53 million a year ago. Basic loss per share from continuing operations was USD 0.35 compared to USD 0.43 a year ago.
Vaxart, Inc. is a clinical-stage biotechnology company that is primarily focused on the development of oral recombinant vaccines based on its Vector-Adjuvant-Antigen Standardized Technology (VAAST) proprietary oral vaccine platform. Its vaccines are designed to be administered using pills that can be stored and shipped without refrigeration and eliminate the risk of needle-stick injury. Its development programs include pill vaccines designed to protect against norovirus (cause for acute gastroenteritis), coronavirus, including SARS-CoV-2 (COVID-19)), and influenza. In addition, it has generated preclinical data for its therapeutic vaccine candidate targeting cervical cancer and dysplasia caused by human papillomavirus. The Company's platform technology employs a vector-based approach and consists of various components, such as a vector (adenovirus type 5 (Ad5); an antigen (Ad5 DNA); an adjuvant (Toll-like receptor 3 (TLR3)), and its proprietary enteric-coated tablet.