Why Vaxart Stock Crashed Today

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Shares of Vaxart (NASDAQ: VXRT) plunged 58% on Wednesday after the biotech released data from a phase 1 study of its oral COVID-19 vaccine candidate, VXA-CoV2-1. 

Preliminary results from Vaxart’s clinical trial showed VXA-CoV2-1 to be generally well-tolerated, with no severe adverse events reported among the study’s 495 participants. Notably, VXA-CoV2-1 also triggered a T-cell response that Vaxart says could help combat the novel coronavirus.

“Our Phase I results highlight the importance of our differentiated vaccine design, as they suggest VXA-CoV2-1 could have broad activity against existing and future coronavirus strains,” Vaxart CEO Andrei Floroiu said in a press release. “These results are timely, as we are seeing the emergence of new variants less responsive to first-generation vaccines.”

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