6/26, 2:22 PM (Source: TeleTrader)
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Chart for: Vaxart, Inc

Vaxart COVID-19 vaccine backed by US government

Biotech company Vaxart Inc. announced on Friday that its oral COVID-19 vaccine would participate in a non-human primate (NHP) challenge study backed by the United States government through the Operation Warp Speed.

"SARS-CoV-2, the coronavirus that causes COVID-19, is primarily transmitted by viral particles that enter through the mucosa - nose, mouth, or eyes - strongly suggesting that mucosal immunity could serve as the first line of defense," commented Vaxart's Chief Executive Andrei Floroiu. Back in May, President Donald Trump announced the start of the $10 billion program to develop a COVID-19 vaccine by the end of the year.

By the time of the announcement, Vaxart's stocks surged 76.52% in the premarket to sell for $11.05 a share. Since the start of the year, the value of the company's shares has multiplied almost 18 times.

Breaking the News / ND