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Vaxart Inc (VXRT)
NASDAQ:VXRT
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Vaxart
(NASDAQ:VXRT)
54Neutral
Positive Factors
Financial Support
Vaxart advances with $453M BARDA-backed COVID-19 vaccine, poised to lead in mucosal immunity.
Regulatory Progress
Management is in ongoing active discussions with the FDA, highlighted by a recent Type C meeting, to clarify potential late-stage development, which could expedite the path to market.
Negative Factors
Market Perception
Investor perception of the norovirus opportunity has considerable room for improvement given the significant disease burden and the lack of approved or late-stage programs.
Vaxart (VXRT) vs. S&P 500 (SPY)
Market Cap
$86.42M
Dividend YieldN/A
Average Volume (3M)1.87M
Price to Earnings (P/E)―
Beta (1Y)2.04
Revenue Growth288.94%
EPS Growth39.45%
CountryUS
Employees105
SectorHealthcare
Sector Strength50
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.04
Shares Outstanding228,208,280
10 Day Avg. Volume1,795,207
30 Day Avg. Volume1,869,010
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap1.42
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit4.26
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$3.00Price Target Upside614.29% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
Vaxart Business Overview & Revenue Model
Company DescriptionVaxart, Inc. is a biotechnology company focused on developing oral recombinant vaccines based on its proprietary delivery platform. The company's oral vaccine technology is designed to be administered by tablet rather than by injection, making it potentially more convenient and accessible. Vaxart is engaged in the research and development of vaccines for a variety of infectious diseases, including influenza, norovirus, and coronaviruses.
How the Company Makes MoneyVaxart generates revenue primarily through partnerships, collaborations, and licensing agreements with other pharmaceutical and biotechnology companies. These partnerships typically involve upfront payments, milestone payments, and potential royalties on sales of products developed using Vaxart's technology. The company is also engaged in research and development activities that are sometimes funded by government grants or contracts, which provide additional revenue streams. As of now, Vaxart does not have a commercialized product on the market, so its revenue is largely dependent on these partnerships and funding sources.
Vaxart Financial Statement Overview
Summary
Vaxart has demonstrated strong revenue growth, but it continues to struggle with profitability and cash flow management. The balance sheet shows moderate leverage, providing some financial stability, but the negative cash flows highlight ongoing operational challenges. Moving forward, improving operational efficiencies and cash flow management will be crucial for sustainable growth.Income Statement
Vaxart has shown a significant increase in total revenue in the latest year, from $7.38 million to $28.7 million, reflecting a strong growth trajectory. However, the company continues to face challenges with profitability as indicated by negative net income and EBIT, resulting in negative net profit and EBIT margins. The lack of positive EBITDA also highlights ongoing operational inefficiencies.―
Balance Sheet
The balance sheet shows a relatively stable equity position with a stockholders' equity of $58.9 million. However, the company has a high debt-to-equity ratio at 0.30, suggesting that the company is moderately leveraged. The equity ratio is approximately 35.4%, indicating that a significant portion of assets is financed by equity, which provides some financial stability.55
Cash Flow
The cash flow statement reveals challenges with negative free cash flow and operating cash flow, which are concerning trends. Despite a significant cash infusion from financing activities, the free cash flow to net income ratio and operating cash flow to net income ratio are negative, reflecting ongoing cash management issues.―
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 28.70M | 7.38M | 107.00K | 892.00K | 4.05M | Gross Profit |
| 28.70M | -60.76M | -3.16M | -47.86M | -15.82M | EBIT |
| -66.29M | -83.35M | -114.59M | -72.75M | -30.17M | EBITDA |
| -54.87M | -72.13M | -103.12M | -66.45M | -28.26M | Net Income Common Stockholders |
| -66.95M | -82.47M | -107.76M | -70.47M | -32.22M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 51.72M | 39.71M | 93.72M | 166.49M | 126.87M | Total Assets |
| 166.39M | 91.83M | 153.85M | 221.17M | 152.58M | Total Debt |
| 17.53M | 26.51M | 21.70M | 13.01M | 7.21M | Net Debt |
| -7.70M | -8.24M | -22.31M | -130.74M | -119.66M | Total Liabilities |
| 107.46M | 34.02M | 43.25M | 33.64M | 29.18M | Stockholders Equity |
| 58.92M | 57.80M | 110.60M | 187.53M | 123.40M |
| Cash Flow | Free Cash Flow | |||
| -45.32M | -72.32M | -104.38M | -64.99M | -24.97M | Operating Cash Flow |
| -44.76M | -70.45M | -94.78M | -59.83M | -23.75M | Investing Cash Flow |
| -21.32M | 43.95M | -20.41M | -49.10M | -1.22M | Financing Cash Flow |
| 56.56M | 15.24M | 17.46M | 125.80M | 138.31M |
Vaxart Technical Analysis
Neutral
0.42
Price Trends
0.43
Negative
0.56
Negative
0.66
Negative
Market Momentum
>-0.01
Negative
52.27
Neutral
36.88
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VXRT, the sentiment is Neutral. The current price of 0.42 is above the 20-day moving average (MA) of 0.39, below the 50-day MA of 0.43, and below the 200-day MA of 0.66, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 52.27 is Neutral, neither overbought nor oversold. The STOCH value of 36.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for VXRT.
Vaxart Risk Analysis
Vaxart disclosed 84 risk factors in its most recent earnings report. Vaxart reported the most risks in the “Tech & Innovation” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Vaxart Peers Comparison
Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
54 Neutral | $86.42M | ― | -114.71% | ― | 288.94% | 39.45% | |
52 Neutral | $5.17B | 3.59 | -42.19% | 2.82% | 15.05% | -0.04% | |
50 Neutral | $92.74M | ― | -49.85% | ― | 155.26% | -640.36% | |
46 Neutral | $89.76M | ― | -42.83% | ― | ― | 48.92% | |
44 Neutral | $117.48M | ― | -34.72% | ― | -100.00% | -12.66% | |
42 Neutral | $109.96M | ― | -120.84% | ― | -4.42% | -12.01% | |
37 Underperform | $102.52M | ― | -424.44% | ― | ― | 51.02% |
* Healthcare Sector Average
Performance Comparison
VXRT
Vaxart
0.42
-0.40
-48.78%
MGNX
MacroGenics
1.43
-2.95
-67.35%
IMUX
Immunic
1.01
-0.25
-19.84%
ZNTL
Zentalis Pharmaceuticals
1.23
-10.52
-89.53%
OBIO
Orchestra BioMed Holdings
2.65
-1.95
-42.39%
SGMT
Sagimet Biosciences, Inc. Class A
3.26
-0.98
-23.11%
Vaxart Earnings Call Summary
Earnings Call Date:Mar 20, 2025
(Q4-2024)
| % Change Since: -26.32%|
Next Earnings Date:May 13, 2025
Earnings Call Sentiment Neutral
The earnings call presents a balanced view with significant progress in norovirus vaccine development and revenue increase, offset by challenges in the COVID-19 program due to the stop work order.Q4-2024 Updates
Positive Updates
Increased Revenue
Revenue for 2024 was $28.7 million, a significant increase compared to $7.4 million in 2023, primarily from government contracts related to BARDA and non-cash royalty revenue from sales of Inavir in Japan.
Progress in Norovirus Vaccine Development
Initiated a Phase 1 trial for second-generation oral norovirus vaccine constructs, with promising preclinical data indicating potentially more potent responses compared to the first-generation constructs.
Positive Safety Profile
The norovirus oral vaccine candidate demonstrated a benign safety and tolerability profile consistent with previous studies, with no significant differences in adverse events between the vaccine candidate and placebo.
Publication in Science Translational Medicine
Two articles were published on norovirus studies, highlighting the efficiency of the Vaxart platform in generating mucosal antibody responses and supporting immunogenicity in older adults.
Cash Runway Extended
Implemented measures to reduce expenses, including a workforce reduction, and anticipates cash runway into the fourth quarter of 2025.
Negative Updates
Stop Work Order for COVID-19 Study
Received a stop work order from the US Department of Health and Human Services related to the BARDA funded Project NextGen award, affecting the planned 10,000 participant portion of the COVID-19 study.
Uncertainty in COVID-19 Program
The stop work order creates uncertainty in the COVID-19 program, impacting the 10,000-participant trial and necessitating expense adjustments to extend the cash runway.
Company Guidance
During the Vaxart Business Update and Fourth Quarter and Full Year 2024 Financial Results Conference Call, the company provided detailed guidance on its ongoing and future initiatives. Vaxart emphasized its commitment to developing next-generation oral pill vaccines, highlighting the progress of its COVID-19 and norovirus programs. They reported a significant award of approximately $460 million for a COVID-19 study, although this was temporarily paused by a stop work order from HHS. Despite this, the sentinel cohort of 400 participants continues to be monitored. The company also initiated a Phase 1 trial for its second-generation oral norovirus vaccine, with plans for potential Phase 2 and Phase 3 trials as early as 2025 and 2026, respectively. Financially, Vaxart ended 2024 with $51.7 million in cash, implementing cost-saving measures to extend its runway into Q4 2025. Revenue for 2024 was $28.7 million, primarily from government contracts and non-cash royalty revenue, marking a significant increase from $7.4 million in 2023. The company is exploring partnerships and non-dilutive funding to further support its endeavors.Vaxart Corporate Events
Product-Related AnnouncementsDelistings and Listing ChangesShareholder MeetingsStock SplitBusiness Operations and Strategy
Vaxart Resumes COVID-19 Vaccine Trial After Government Lift
Neutral
May 5, 2025
On May 5, 2025, Vaxart, Inc. announced significant progress in its vaccine programs, including the lifting of a government stop work order on April 24, 2025, which allows the continuation of a clinical trial for its COVID-19 vaccine candidate. The company is also advancing its norovirus program and is on track to report topline data by mid-2025. Vaxart is proposing a reverse stock split to be voted on at the upcoming annual meeting to avoid Nasdaq delisting, which could impact liquidity and funding opportunities. The company is implementing cost control measures to extend its cash runway into 2026 and is actively seeking non-dilutive funding to support its strategic initiatives.
Spark’s Take on VXRT Stock
According to Spark, TipRanks’ AI Analyst, VXRT is a Neutral.
Vaxart’s overall score is driven by strong revenue growth and progress in its norovirus vaccine program, providing a positive outlook. However, significant challenges in profitability, cash flow management, and uncertainties in the COVID-19 program weigh heavily on the stock. Technical indicators suggest bearish momentum, while valuation metrics highlight financial struggles. The company’s strategic initiatives and cash management efforts offer some hope for future stability, but current risks remain substantial.
To see Spark’s full report on VXRT stock, click here.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.