Vaxart Updates BARDA Funding for COVID-19 Vaccine Trial, Secures $29M for Completion & Sets Data Readout Timelines
Summary
Vaxart announced a modification to its BARDA funding, reducing the total potential award but releasing $29 million to complete its Phase 2b COVID-19 vaccine trial and advance data analysis, with key 12-month data expected soon.
Key Events
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BARDA Contract Modification
Vaxart entered into Modification No. 7 of its Project Award Agreement with Advanced Technology International (ATI), funded by BARDA, for its Phase 2b oral pill COVID-19 vaccine trial.
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Funding Adjustment
The total funding available under the Project Agreement is now approximately $345 million, a decrease of approximately $116 million from the prior modification. This reduction reflects a ~50% decrease in trial participants ordered by BARDA in August 2025.
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Immediate Funding Release
The modification allows for the release of approximately $29 million to complete the trial and conduct exploratory analyses to further evaluate safety and efficacy.
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Key Data Readout Timelines
Vaxart expects to report 12-month data from the 400-participant Sentinel Cohort in the coming weeks and 12-month data from the 5,085-participant main cohort in the first half of 2027.
Analysis
This filing details a significant modification to Vaxart's BARDA funding for its oral COVID-19 vaccine trial. While the total potential funding was reduced by $116 million due to a prior decrease in trial participants (from August 2025), the current modification releases $29 million specifically for trial completion and advanced data analysis. This immediate funding is crucial for a clinical-stage biotech, enabling the company to finalize the study and report key 12-month data from its sentinel cohort in the coming weeks, followed by main cohort data in the first half of 2027. These data readouts are critical milestones that will inform the future of their lead vaccine candidate.
At the time of this filing, VXRT was trading at $0.54 on OTC in the Life Sciences sector, with a market capitalization of approximately $130.6M. The 52-week trading range was $0.26 to $0.84. This filing was assessed with neutral market sentiment and an importance score of 8 out of 10.