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Why Vaxart Stock Is Soaring Today

By Joe Tenebruso - Apr 30, 2021 at 6:17PM

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The biotech is slated to provide updates to investors on its vaccine development efforts next week.

What happened 

Shares of Vaxart (VXRT 2.39%) surged 17% Friday, furthering a sharp rally in the biotechnology company's stock price in recent days.

So what 

Vaxart released a study on April 22 indicating that almost 19 million more American adults would get COVID-19 vaccines if they could do so via a pill rather than a shot. "Needle injections present a barrier to getting people vaccinated, and we have a solution that we believe will be effective and would allow people to avoid injections they don't want to have," Vaxart CEO Andrei Floroiu said in a press release. 

An upwardly sloping stock chart.

Vaxart's stock price is up sharply in recent days. Image source: Getty Images.

A phase 1 study showed Vaxart's oral tablet COVID-19 vaccine candidate induced T-cell responses in patients, which the company believes could protect against new coronavirus strains. Vaxart's vaccine was also found to be generally well tolerated. 

Now what 

Investors appear to be eagerly awaiting upcoming presentations by Vaxart's management team. On Monday, the company will host a webinar on the importance of T-cell responses for COVID-19 and share new comparative data for its vaccine candidate. Vaxart founder and chief scientific officer Sean Tucker will also give a presentation next week at the World Vaccine Congress Washington regarding the benefits of its oral vaccine. 

Additionally, Vaxart has become increasingly popular among traders on Reddit and other social media platforms in recent weeks. This is no doubt amplifying the moves in its stock price, which is likely to remain volatile.

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