Vaxart Inc [NASDAQ:VXRT] was a top performer yesterday and closed the day with gains of 46%. This saw the stock form a bullish reversal pattern after establishing solid support at the $5 price level. The strong bullish reversal followed the company’s announcement that it had got a nod from the FDA for its phase 1 trial for a COVID-19 vaccine.
The IND approval came after the FDA’s review of the vaccine for safety on pre-clinical animal data.
With this approval from the FDA, the company stated that it would start patient enrollment later in September.
It also stated that it would test two vaccine doses on adults aged 18 to 55. However, the company has not diverged details on how the dosing will be spread out, or how many adults will be taking part in the testing.
While the primary goal of this study is to test the new vaccine for safety, it will also look into how the vaccine responds to the immune system. It will specifically look into how it helps in the creation of antibodies that fight against the coronavirus. The study also aims to find out whether participants in the study develop COVID-19, the disease caused by the new coronavirus.
At this point, a company that is still in phase one in the COVID-19 vaccine race may appear to be lagging behind. Most front runners are now doing late stage tests of the vaccine. While this may hold true, this company has advantage over the other players angling for the same. That’s because while the other players are mostly working on an injectable vaccine, this company has announced that it is working on an oral vaccine.
This could see this vaccine gain wider acceptance in the market since it is easier to take. As such, it has the potential to gain a wider share of the COVID-19 vaccine market once it is released. On top of that, the tablets will be in a position to be stored at room temperatures, as opposed to the injectable vaccines that need to be stored in frozen conditions. Essentially, this means that this vaccine can be used in the 3rd world countries, where such facilities may not be adequate especially for a vaccine that is targeting entire populations.
In essence, despite being a late comer, this stock is well-positioned to capture the COVID-19 market and grow revenues.
About Vaxart Inc
Vaxart Inc is a biopharma company that develops oral vaccine. It is based in San Francisco, California.