Company:Vaxart

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Short description: American biotechnology company based in San Francisco
Vaxart, Inc.
TypePublic
NASDAQ: VXRT
IndustryBiotechnology
Founded2004
FounderSean Tucker
HeadquartersSouth San Francisco, California
Key people
Michael Finney (Interim CEO)
ProductsOral vaccines
RevenueDecrease US$107,000 (2022)
Decrease –US$70.5 million (2022)
Number of employees
164 (2022)
Websitevaxart.com
Footnotes / references
[1]

Vaxart, Inc. is an American biotechnology company focused on the discovery, development, and commercialization of oral recombinant vaccines administered using temperature-stable tablets that can be stored and shipped without refrigeration, eliminating the need for needle injection. Its development programs for oral vaccine delivery (Vector-Adjuvant-Antigen Standardized Technology known as VAAST) include prophylactic, enteric-coated tablet vaccines for inhibiting norovirus, seasonal influenza, respiratory syncytial virus, and human papillomavirus. It was founded in 2004 by Sean Tucker.[2] Originally incorporated as West Coast Biologicals, Inc. in California in 2004, the company later changed its name to Vaxart, Inc. in July 2007, after reincorporating in Delaware. A significant development in the company's history was the reverse merger with Aviragen Therapeutics, Inc. on February 13, 2018, which led to Vaxart becoming a wholly-owned subsidiary of Aviragen. Post-merger, the company continued as Vaxart, Inc.[3]

Vaxart's development portfolio includes a range of oral vaccines targeting infectious diseases such as norovirus, COVID-19, and seasonal influenza, as well as therapeutic vaccines like those targeting HPV. The company has achieved significant milestones in its vaccine development, including completing Phase 1 trials for its COVID-19 vaccine candidate and embarking on Phase 2 studies. Vaxart’s vaccines are designed to elicit not only systemic immune responses but also mucosal and T cell responses, which may enhance protection against specific diseases and offer potential benefits for certain cancers and chronic viral infections. The tablet form of these vaccines represents a significant advancement in vaccine administration, potentially improving patient acceptance and resolving distribution challenges.[4]

Technology

The Vaxart technology is based on the potential to prevent or inhibit infectious diseases by using orally-delivered vaccines by tablets, eliminating intramuscular injection concerns which may involve pain, fear of needles, cross-contamination, dosing inconsistencies, and higher cost for large-scale immunizations.[5][6] As a proof of concept for oral vaccination efficacy, an oral vaccine against polio was proved to be safe and effective, and is in common use in many countries.[7][8][9]

Vaxart uses enteric-coated tablets to protect the active vaccine from acidic degradation in the stomach, delivering the vaccine into the small intestine where it can engage the immune system to stimulate systemic and mucosal immune responses against a virus.[10][11][6][12]

Vaxart uses a specific virus called adenovirus type 5 (Ad5) as a delivery biological "vector" to carry genes coding for the antigen to generate a protective immune response.[13][6][12] The Ad5 vector delivers the antigen to the epithelial cells lining the mucosa of the small intestine where it stimulates the immune system to respond against the vaccine antigen, creating a systemic immune response against a virus.[11][6][12]

In addition to its focus on infectious diseases, Vaxart has expanded its vaccine development efforts to include therapeutic vaccines for chronic viral infections and cancer. These efforts are anchored in the company's innovative technology that enables the creation of tablet-based vaccines, which can generate broad and durable immune responses, including systemic, mucosal, and T-cell responses. This comprehensive immune activation is particularly critical in the context of chronic viral infections and cancer, where both systemic and localized immune responses play a pivotal role in effective treatment.[14]

Vaccine development

Influenza Vaccine

The lead vaccine candidate by Vaxart is an influenza oral tablet vaccine, which showed safety and neutralizing antibody responses to influenza virus in a 2015 Phase I clinical trial.[15] A 2016-17 Phase II trial of the Vaxart oral flu vaccine, VXA-A1.1, showed that the vaccine was well-tolerated and provided immunity against virus shedding, outperforming the effectiveness of an established intramuscular vaccine.[16] In 2018, Vaxart completed a Phase II challenge study, in which the Vaxart influenza tablet vaccine demonstrated a 39 percent reduction in clinical disease relative to placebo, compared to a 27 percent reduction by the injectable flu vaccine, Fluzone.[11]

COVID-19 vaccine

In January 2020, Vaxart announced development of a tablet vaccine to inhibit COVID-19. Some of its competitors were companies such as Novavax, Inovio Pharmaceuticals, and Moderna.[17][13][18][11]

In February 2020, Vaxart began a program to develop an oral tablet vaccine for COVID-19.[17][13][18]

In April, the company reported positive immune responses in laboratory animals from its tests with a vaccine candidate for COVID-19.[19]

In January 2024, Vaxart received a grant from the United States Biomedical Advanced Research and Development Authority (BARDA). The grant, amounting to $9.27 million, is allocated for the preparation of a large-scale Phase 2b clinical trial involving 10,000 participants. This trial is designed to evaluate the efficacy of Vaxart's innovative oral pill XBB COVID-19 vaccine candidate in comparison to an approved mRNA vaccine. The funding is part of Project NextGen, a substantial $5 billion initiative by the U.S. Department of Health and Human Services (HHS) focusing on the development of new, innovative vaccines and therapeutics that provide broader and more durable protection against COVID-19. The oral vaccine platform developed by Vaxart is noted for its potential advantages, including generating mucosal immunity and offering a cross-reactive response to various COVID-19 variants​​. [20]

Norovirus vaccine

Vaxart has been progressing in the development of an oral tablet vaccine for Norovirus, the leading cause of acute gastroenteritis globally. Norovirus significantly impacts all age groups, particularly young children and the elderly, causing millions of cases annually with substantial healthcare and economic burdens.

Its vaccine candidate is a bivalent oral tablet targeting major norovirus genogroups GI and GII. The tablet form is specifically crafted to generate antibodies in the intestine, the primary site of norovirus infection.

In December 2022, Vaxart received significant funding and support from the Bill & Melinda Gates Foundationfor a study focusing on breastfeeding mothers and their infants. This study aligns with Vaxart’s broader norovirus vaccine program goals, targeting critical and at-risk populations globally​​.[21]

In 2023, Vaxart initiated a Phase 1 trial (VXA-NVV-108) focused on lactating mothers, aiming to evaluate the vaccine's ability to induce breast milk antibodies and their transfer to infants​​.[22] Furthermore, in July 2023, Vaxart announced positive topline data from a dose-ranging Phase 2 clinical trial of its bivalent norovirus vaccine candidate. The study met all primary endpoints, showing the vaccine was well-tolerated with robust immunogenicity​​. [23]

Additionally, in September 2023, Vaxart announced top-line data from its Phase 2 challenge study of the monovalent norovirus vaccine candidate. [24] This study met 5 of its 6 primary endpoints, demonstrating a statistically significant reduction in norovirus infection rate and a substantial reduction in viral shedding, while maintaining a well-tolerated safety profile​​.

Investment

In 2019, several hedge funds invested in Vaxart, with the largest investment coming from Armistice Capital which acquired 25.2 million shares.[25][26]

See also

References

  1. ↑ "FORM 10-K". Vaxart. Dec 31, 2021. pp. 48,103. https://investors.vaxart.com/static-files/df1c9931-941a-4222-b393-104f2cae0a6f. 
  2. ↑ Leuty, Ron (August 6, 2013). "Flu vaccine developer Vaxart snags $20 million". https://www.bizjournals.com/sanfrancisco/blog/biotech/2013/08/vaxart-avian-flu-vaccine-influenza.html. 
  3. ↑ "Vaxart Inc. Closes Merger with Aviragen Therapeutics, Inc.". Business Wire. February 13, 2018. https://www.businesswire.com/news/home/20180213006751/en/Vaxart-Inc.-Closes-Merger-with-Aviragen-Therapeutics-Inc.. 
  4. ↑ "Vaxart, Inc. 2023 10-K Filing". Vaxart, Inc.. March 15, 2023. https://investors.vaxart.com/static-files/f90e8fef-d3b5-483d-806b-0db0a4c2d273. 
  5. ↑ Zheng, Zhichao; Diaz-Arévalo, Diana; Guan, Hongbing; Zeng, Mingtao (17 May 2018). "Noninvasive vaccination against infectious diseases (Review)". Human Vaccines & Immunotherapeutics 14 (7): 1717–1733. doi:10.1080/21645515.2018.1461296. ISSN 2164-5515. PMID 29624470. 
  6. ↑ 6.0 6.1 6.2 6.3 Fast, Patricia E; Cox, Josephine H (1 September 2015). "An influenza vaccine pill - can we swallow it?". The Lancet Infectious Diseases 15 (9): 1051–6; discussion 1056–7. doi:10.1016/s1473-3099(15)00252-2. PMID 2633331. https://www.thelancet.com/journals/laninf/article/PIIS1473-3099(15)00252-2/fulltext#seccestitle10. Retrieved 27 January 2020. 
  7. ↑ Bandyopadhyay, Ananda S; Modlin, John F; Wenger, Jay; Gast, Chris (30 October 2018). "Immunogenicity of New Primary Immunization Schedules With Inactivated Poliovirus Vaccine and Bivalent Oral Polio Vaccine for the Polio Endgame: A Review". Clinical Infectious Diseases 67 (suppl_1): S35–S41. doi:10.1093/cid/ciy633. ISSN 1058-4838. PMID 30376081. 
  8. ↑ "Polio Vaccination: What Everyone Should Know". National Center for Immunization and Respiratory Diseases, US Centers for Disease Control and Prevention. May 4, 2018. https://www.cdc.gov/vaccines/vpd/polio/public/index.html. 
  9. ↑ "Polio: Global Eradication Initiative". Global Polio Eradication Initiative, World Health Organization. 2020. http://polioeradication.org/polio-today/faq/. 
  10. ↑ "Vaxart enters into research collaboration with Janssen to evaluate oral universal influenza vaccine: Oral vaccine candidate to be evaluated in pre-clinical challenge model". Business Wire. July 9, 2019. https://www.businesswire.com/news/home/20190709005100/en/Vaxart-Enters-Research-Collaboration-Janssen-Evaluate-Oral. 
  11. ↑ 11.0 11.1 11.2 11.3 "Vaxart (VXRT) - A long shot or perfect shot?". NASDAQ, RTTNews.com. 25 February 2020. https://www.nasdaq.com/articles/vaxart-vxrt-a-long-shot-or-perfect-shot-2020-02-25. 
  12. ↑ 12.0 12.1 12.2 SN Tucker; DW Tingley; CD Scallan (2008). "Oral adenovirus-based vaccines: historical perspective and future opportunity". Expert Review of Vaccines 7 (1): 25–31. doi:10.1586/14760584.7.1.25. ISSN 1476-0584. PMID 18251691. https://www.researchgate.net/publication/5599995. Retrieved 1 March 2020. 
  13. ↑ 13.0 13.1 13.2 "Increasing number of biopharma drugs target COVID-19 as virus spreads". BioWorld. February 26, 2020. https://www.bioworld.com/articles/433331-increasing-number-of-biopharma-drugs-target-covid-19-as-virus-spreads. 
  14. ↑ "Vaxart, Inc. 2023 10-K Filing". Vaxart, Inc.. March 15, 2023. https://investors.vaxart.com/static-files/f90e8fef-d3b5-483d-806b-0db0a4c2d273. 
  15. ↑ Liebowitz, David; Lindbloom, Jonathan D; Brandl, Jennifer R; Garg, Shaily J; Tucker, Sean N (2015). "High titre neutralising antibodies to influenza after oral tablet immunisation: a phase 1, randomised, placebo-controlled trial". The Lancet Infectious Diseases (Elsevier BV) 15 (9): 1041–1048. doi:10.1016/s1473-3099(15)00266-2. ISSN 1473-3099. PMID 26333337. https://www.thelancet.com/journals/laninf/article/PIIS1473-3099(15)00266-2/fulltext. 
  16. ↑ Liebowitz, David; Gottlieb, Keith; Kolhatkar, Nikita S; Garg, Shaily J; Asher, Jason M; Nazareno, Jonathan; Kim, Kenneth; McIlwain, David R et al. (2020). "Efficacy, immunogenicity, and safety of an oral influenza vaccine: a placebo-controlled and active-controlled phase 2 human challenge study". The Lancet Infectious Diseases 20 (4): 435–444. doi:10.1016/s1473-3099(19)30584-5. ISSN 1473-3099. PMID 31978354. https://www.thelancet.com/journals/laninf/article/PIIS1473-3099(19)30584-5/fulltext. 
  17. ↑ 17.0 17.1 "Vaxart (VXRT) to make vaccines to check coronavirus, stock up". Yahoo Finance (Zacks Equity Research). February 3, 2020. https://finance.yahoo.com/news/vaxart-vxrt-vaccines-check-coronavirus-161604338.html. 
  18. ↑ 18.0 18.1 "These 5 drug developers have jumped this week on hopes they can provide a coronavirus treatment". Markets Insider. February 27, 2020. https://markets.businessinsider.com/news/stocks/drug-stocks-gain-companies-coronavirus-vaccine-potential-wall-street-buys-2020-2-1028947495. 
  19. ↑ "Vaxart announces positive pre-clinical data for its oral COVID-19 vaccine program". Yahoo Finance. 2020-04-21. https://finance.yahoo.com/news/vaxart-announces-positive-pre-clinical-120010980.html. 
  20. ↑ "Vaxart Receives $9.27 Million BARDA Project NextGen Award to Prepare for Phase 2b Clinical Study Evaluating Its COVID-19 Oral Pill Vaccine Candidate". Vaxart, Inc.. January 19, 2024. https://investors.vaxart.com/news-releases/news-release-details/vaxart-receives-927-million-barda-project-nextgen-award-prepare. 
  21. ↑ "Vaxart Announces Collaborative Funding from Leading Foundation to Study Its Norovirus Vaccine Candidate in Breastfeeding Mothers". GlobeNewswire. December 1, 2022. https://investors.vaxart.com/news-releases/news-release-details/vaxart-announces-collaborative-funding-leading-foundation-study. 
  22. ↑ "Vaxart Doses First Subject in Phase 1 Trial of Its Norovirus Vaccine Candidate in Lactating Mothers". GlobeNewswire. November 2, 2023. https://investors.vaxart.com/news-releases/news-release-details/vaxart-doses-first-subject-phase-1-trial-its-norovirus-vaccine. 
  23. ↑ "Vaxart Announces Positive Preliminary Topline Data from Dose-Ranging Phase 2 Study of its Bivalent Norovirus Vaccine Candidate". GlobeNewswire. July 6, 2023. https://investors.vaxart.com/news-releases/news-release-details/vaxart-announces-positive-preliminary-topline-data-dose-ranging. 
  24. ↑ "Vaxart Announces Topline Data from the Phase 2 Challenge Study of its Monovalent Norovirus Vaccine Candidate". GlobeNewswire. September 6, 2023. https://investors.vaxart.com/news-releases/news-release-details/vaxart-announces-topline-data-phase-2-challenge-study-its. 
  25. ↑ "Hedge funds have never been this bullish on Vaxart, Inc. (VXRT)". Hedge Fund News, Insider Monkey. December 22, 2019. https://www.insidermonkey.com/blog/hedge-funds-have-never-been-this-bullish-on-vaxart-inc-vxrt-812685/. 
  26. ↑ "Vaxart - Top institutional holders". Yahoo Finance. 28 February 2020. https://finance.yahoo.com/quote/VXRT/holders?p=VXRT. 



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