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Why Vaxart Shares Popped 78% in April

By Jason Hawthorne - May 4, 2021 at 9:57AM

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Shareholders keep getting their hopes up for the company's tablet-based COVID-19 vaccine.

What happened?

Vaxart (VXRT 1.15%), the biotech creating tablet-based vaccines, jumped 78.2% last month according to S&P Global Market Intelligence. The increase recovered some of the ground it lost after Phase 1 data from its COVID-19 vaccine disappointed investors in early February. Shares closed the month at $10.78.

A person holding a glass of water in one hand and a pill in the other.

Image source: Getty Images.

So what?

About three months ago, investors bid shares of Vaxart higher in anticipation of results that it failed to deliver. The company kicked off May by reporting disappointing earnings before the bell on Monday May 3. That triggered a sell-off that erased much of April's gains. Despite the share volatility, the company plows forward.

Now what?

Management announced it will advance its VXA-CoV2-1 tablet vaccine into Phase 2. The company also plans to advance its norovirus vaccine through studies of a booster dose and in the elderly population.

Vaxart continues to trade on its potential. However, that potential coming to fruition is important for the U.S. to beat the pandemic. The company's own study suggested 19 million vaccine-skeptical Americans -- many in underserved demographics -- would get inoculated if the method of administration was pill rather than injection.

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