Vaxart (NASDAQ:VXRT) recently reported preliminary results from phase 1 study of its tablet COVID-19 vaccine candidate. Although there were some positive data in those results, many investors worried about the failure of the experimental vaccine to produce neutralizing antibodies in study participants. The biotech stock plunged after the clinical update. In this Motley Fool Live video recorded on Feb. 3, 2021, contributors Keith Speights and Brian Orelli answer a viewer's question about whether Vaxart still has a future.

Keith Speights: JP asked, "Any future left for Vaxart?"

Brian Orelli: I think, you read down, it's a $1.4 billion market cap. That seems high to me for now. Very uncertain future. So whether it has no future, I don't know that I would say that, but I would be definitely concerned at buying right now based on the $1.4 billion market cap.

I think that probably tells me maybe other people think I'm wrong because that's pretty high valuation for some unproven technology. I'd say I don't think so, but it probably, it's worth looking into it based on the fact that other people do, and I don't pretend to be the smartest person on Wall Street.

Speights: I agree with you. I think it's too strong of a statement to say Vaxart has no future. I don't think that's necessarily the case. They do have other pipeline candidates. They've had some promise with another experimental tablet vaccine. It's just still really early, so I wouldn't write off the company, but I do agree with you that after today's news, the future for Vaxart doesn't look nearly as promising as it might have before today.

Orelli: I guess the biggest question is, is this problem-specific to coronavirus, or is it just specific to their tablet? If it's specific to their tablet, then I think it's probably overvalued and if it's specific to the coronavirus, then maybe it's not overvalued and it's a reasonable valuation.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.