VXRT Overview

Market Reaction: Shares of Moderna and BioNTech fell on Monday morning following a memo from a FDA official linking COVID-19 mRNA vaccines to myocarditis deaths in 10 children.

Public Concern: The potential link between mRNA vaccines and myocarditis, especially in teenage boys and young men, has fueled arguments against vaccinating children with these vaccines.

Vaxart's Financial Performance: Vaxart's shares rose ~11% after reporting Q3 revenue of $72.4M, exceeding forecasts by $32.3M, largely due to a BARDA contract. The company also noted a net loss per share of $0.04, reflecting a ~33% YoY contraction despite a significant increase in R&D expenses.

Precigen's Growth and FDA Approval: Precigen's shares surged ~27% following a strong Q3 performance with $2.9M in revenue, surpassing expectations and showing over 200% YoY growth, driven by collaboration and licensing revenue after FDA approval of its immunotherapy candidate, Papzimeos.

Patient Engagement for Papzimeos: Since receiving FDA approval in August, Precigen has registered over 100 patients in its Papzimeos Patient Hub, indicating strong early interest and rapid activation of its sales force.

Rising Costs for Both Companies: Both Vaxart and Precigen reported increased net losses per share, with Precigen's SG&A and R&D costs rising significantly, highlighting the financial pressures associated with their respective development activities.

Partnership Announcement: Vaxart, Inc. has formed a significant partnership with Dynavax, potentially worth up to $700 million, which includes an upfront license fee and equity investment, extending Vaxart's cash runway into Q2 2027.

Clinical Development Progress: The company reported positive Phase I results for its norovirus program and is on track to provide COVID-19 vaccine data in 2026, with ongoing funding from BARDA for clinical trials.

Financial Performance: Vaxart's revenue for Q3 2025 reached $72.4 million, a substantial increase from the previous year, supported by the BARDA contract, while maintaining $28.8 million in cash and investments.

Management Outlook: The management expressed increased confidence following the Dynavax deal, focusing on advancing their vaccine programs and seeking additional partnerships to support future developments.

Earnings Reports Today: Major companies reporting earnings today include Applied Materials, Walt Disney, and Virgin Galactic, among others, with expected earnings moves indicated by options prices.

Implied Earnings Moves: The expected stock price movements after earnings announcements vary, with significant implied moves for companies like Vaxart (+77.35%) and Ballard Power Systems (+18.66%).

Options Activity Insights: Investors often analyze options activity prior to earnings to gauge potential stock movements, providing insights into market expectations.

Caution on Options Trading: The article emphasizes the risks associated with options trading and advises thorough research before participating in such activities.

Vaxart Withdraws Stock Split Proposal: Vaxart, Inc. has officially withdrawn its proposal for a reverse stock split, with CEO Steven Lo emphasizing the company's commitment to maintaining communication with stockholders and focusing on advancing its oral vaccine platform.

Innovative Vaccine Development: Vaxart is developing oral recombinant vaccines that can be stored without refrigeration, targeting diseases such as coronavirus, norovirus, influenza, and human papillomavirus (HPV), while holding patents for its proprietary delivery technology.

Concerns Over Board Changes: Concerned Vaxart Stockholders express skepticism regarding the appointment of W. Mark Watson as Lead Independent Director, believing it fails to address ongoing governance issues and stockholder dissatisfaction.

Opposition to Reverse Stock Split: The group urges stockholders to vote against the proposed reverse stock split, emphasizing that it does not resolve underlying problems and calling for genuine engagement and reforms from the Company.