$VXRT entry Target PTs 7.20-8-8.20 Long term PTs 75-200-500
VXRT entry Target PTs 7.20-8-8.20 Long term PTs 75-200-500 and higher...timeline Sept 2022Wyckoff Re-accumulation after decline
Catalyst: Shares of Vaxart (Nasdaq: VXRT) rose on Monday after the biotech said the U.S. Food and Drug Administration (FDA) had cleared its Investigational New Drug (IND) application for its oral Coronavirus vaccine.
Why Vaxart Stock Surged Today
The vaccine maker has a promising new construct for its experimental COVID-19 tablet.
What happened
Shares of Vaxart (Nasdaq: VXRT) rose on Monday after the biotech said the U.S. Food and Drug Administration (FDA) had cleared its Investigational New Drug (IND) application for its oral coronavirus vaccine. As of 2:20 p.m. EDT, Vaxart's stock price was up more than 12%.
So what
Vaxart's S-only vaccine construct produced higher serum antibodies than its other vaccine candidate, which expresses both S and N proteins, in a non-human primate study. Vaxart plans to begin a phase II clinical trial for its S-only vaccine later this year.
"This new clinical trial will allow us to compare the S-only and S+N vaccine candidates and put us in a position to decide which approach offers the best way forward for our COVID-19 vaccine development program, particularly in the face of emerging variant strains," Vaxart's chief scientific officer Dr. Sean Tucker said in a press release.
Now what
If Vaxart's new vaccine construct can produce a stronger antibody response in human patients than its other oral vaccine did in prior studies, it could become a more legitimate competitor to the COVID-19 drugs developed by Pfizer and Moderna. As a tablet, Vaxart's oral vaccine would be easier to store, transfer, and administer. If Vaxart can demonstrate a comparable efficacy and safety profile to the leading vaccines currently on the market, there would likely be tremendous demand for its new drug.
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