Vaxart disclosed positive safety outcomes from the first stage of its Phase II-B oral COVID-19 vaccine candidate trial during a stockholder meeting. The 400-person Sentinel cohort, which compared the company’s tablet vaccine targeting the XBB variant against an approved injectable mRNA vaccine, showed no vaccine-related serious complications or severe long-lasting adverse events over a 12-month evaluation period. The most common side effects in oral-vaccine recipients were mild-to-moderate fatigue at 20.9%, headache at 18.9%, and appetite loss at approximately 10%, considerably lower rates than the mRNA comparator group.
The larger main cohort, enrolling approximately 5,000 participants vaccinated against the KP.2 variant, is now fully enrolled. Vaxart anticipates releasing complete data from both cohorts in the first half of 2027, subject to approval from the Biomedical Advanced Research and Development Authority. The company received a $29 million contract modification from BARDA to fund expanded analyses including mucosal antibody testing, cellular biomarkers, and genomic sequencing across study participants.
Financially, Vaxart ended Q2 2026 with $64 million in cash and short-term investments, sufficient to fund operations into Q2 2027 under its current plan. Second-quarter revenue totaled $27.2 million, down from $39.7 million in the prior-year period, primarily from BARDA funding. Net loss for the quarter was $13.5 million. The company has access to an additional $25 million through a share purchase agreement with Lincoln Park Capital and is pursuing non-dilutive funding sources.
Management indicated ongoing efforts to secure a commercial partner for its norovirus vaccine program, describing it as representing a significant unmet medical need. The company also announced governance changes following a shareholder cooperation agreement, including board restructuring and the creation of new committees focused on stockholder engagement and clinical-regulatory affairs.
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