Strategic Partnership with Dynavax
Vaxart announced a partnership with Dynavax for their oral COVID-19 vaccine program, potentially worth up to $700 million, including an upfront license fee of $25 million and a $5 million equity investment. This extends Vaxart's cash runway to Q2 2027.
Positive Norovirus Vaccine Developments
Vaxart reported positive Phase I results for their second-generation norovirus vaccine, showing significant increases in antibody responses, with a potential for improved protection over the first-generation constructs.
Increased Revenue
Revenue for Q3 2025 was $72.4 million, a significant increase from $4.9 million in Q3 2024, primarily due to the BARDA contract.