Vaxart
Clinical-stage biotech developing oral tablet vaccines for infectious disease.
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Profile
Vaxart develops oral recombinant pill vaccines using its VAAST platform, with programs for COVID-19, norovirus, influenza and HPV. Its business is still clinical-stage and depends on trial progress, regulators, partners and external funding.
Vaxart is a clinical-stage biotechnology company in South San Francisco focused on oral recombinant vaccines delivered as enteric-coated tablets. Its VAAST platform combines a non-replicating adenovirus vector, pathogen antigen and immune-stimulating adjuvant to deliver vaccine instructions to the small intestine, where the company seeks both mucosal and systemic immune responses. The pipeline centers on COVID-19, norovirus and influenza vaccine candidates, with an earlier HPV therapeutic vaccine program.
Its COVID-19 program is partnered with Dynavax under an exclusive worldwide license for coronavirus indications, while Vaxart retains platform rights outside that field. The norovirus candidate is a bivalent oral tablet targeting the main human genogroups, and the influenza work applies the same pill-delivery approach to seasonal strains. Vaxart has no approved products, so its business depends on clinical results, regulatory review, collaborators and continued financing.
Company facts
Key statistics
Year to date +40.8% · Average volume (30d) 303.3K
Analysts
Ratings
Target range
Latest analyst notes
No analyst notes in the last 24 months.
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | −$0.12 | −$0.06 | +50.0% | $26.2M | $27.2M | +3.7% | −3.42% |
| May 7, 2026Q1 FY26 | $0.02 | $0.02 | 0.0% | $50.5M | $39.2M | −22.3% | −5.41% |
| Mar 12, 2026Q4 FY25 | −$0.08 | $0.24 | +400.0% | $36.0M | $104.2M | +190.0% | −14.86% |
| Nov 13, 2025Q3 FY25 | −$0.07 | −$0.04 | +42.9% | $36.0M | $72.4M | +101.4% | +10.81% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $20.9M | $39.7M | $72.4M | $104.2M | $39.2M | $27.2M | |
| Gross profit | $20.9M | $39.7M | $72.4M | $104.2M | $39.2M | $27.2M | |
| Operating income | −$14.9M | −$14.6M | −$7.8M | $55.4M | $5.2M | −$13.2M | |
| Net income | −$15.6M | −$15.0M | −$8.1M | $55.0M | $5.2M | −$13.5M | |
| Diluted EPS | −$0.07 | −$0.07 | −$0.04 | $0.23 | $0.02 | −$0.06 | |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | |
| Operating margin | -71.5% | -36.8% | -10.8% | 53.2% | 13.2% | -48.5% |
Fiscal years (4-quarter sums)FY21 $892.0K · FY22 $107.0K · FY23 $5.7M · FY24 $28.7M · FY25 $237.3M
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $64.0M · Total debt $7.8M · Total assets $165.2M · Shareholders' equity $82.4M
Dividends
No dividends on record.
Ownership
Shares outstanding 242.04M · Float 238.37M · 98.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Steven Lo · director, officer: President, Chief Exec Officer | 2.59M | 1.07% | Form 4 | Mar 26, 2026 |
| James F. Cummings · officer: Chief Medical Officer | 924.2K | 0.38% | Form 4 | Mar 31, 2026 |
| Sean Tucker · officer: SVP, Chief Scientific Officer | 882.8K | 0.36% | Form 4 | Mar 31, 2026 |
| Edward B. Berg · officer: SVP, General Counsel | 755.4K | 0.31% | Form 4 | Mar 26, 2026 |
| Michael J. Finney · director | 702.8K | 0.29% | Form 4 | Jun 16, 2025 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 22, 2026 | W. Mark Watson | director | +10,000 | $0.6530 |
| Nov 17, 2025 | W. Mark Watson | director | +20,000 | $0.4093 |
| Nov 17, 2025 | Elaine J. Heron | director | +40,000 | $0.3980 |
Peers
Not reported.