This $2 Biotech Stock Could Deliver A 92% Gain
Vaxart, Inc. (Nasdaq: VXRT), a clinical-stage biotechnology company developing oral recombinant vaccines that are administered by tablet rather than by injection, has caught the attention of analysts and investors, after announcing the initiation of a Phase 1b bivalent norovirus vaccine clinical trial.
The company’s product pipeline includes tablet vaccines that are designed to protect against norovirus, seasonal influenza, and respiratory syncytial virus. It is also developing therapeutic immune-oncology vaccines for cervical cancer and dysplasia caused by human papillomavirus.
Wouter Latour, M.D., chief executive officer of Vaxart, commented: “The initiation of the bivalent norovirus vaccine Phase 1b trial marks a significant step towards our goal of developing a vaccine that can protect the most vulnerable patients from this highly infectious disease.”
Latour continued, “Norovirus infection disproportionately affects the elderly and the very young, and we believe an oral vaccine would be the optimal approach to prevent the significant morbidity and even mortality in these age groups.”
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As Business Wire reported,
“The bivalent norovirus vaccine Phase 1b trial consists of two parts, an open-label lead-in phase during which 6 subjects will be dosed with norovirus GII.4 vaccine, and a double-blind, placebo-controlled phase during which a total of 80 subjects will be randomized into four groups and dosed with either placebo, norovirus GI.1 vaccine, norovirus GII.4 vaccine or both norovirus vaccines.
Both portions of the study are designed to evaluate safety and immunogenicity. Vaxart expects the first dosing of the randomized portion of the study to begin in April, subject to final review by the FDA.
The Company expects to receive topline data from the Phase 1b clinical study in the second half of 2019.
In addition, the Company reported it remains on track to initiate the Phase 2 monovalent norovirus challenge study in the second quarter of 2019, with results expected in the second half of 2019.”
The company also recently announced that it has entered into definitive agreements with certain institutional investors for the purchase and sale in a registered direct offering priced at-the-market of 1,200,000 shares of the Vaxart’s common stock, at a purchase price of $2.50 per share, for aggregate gross proceeds of $3 million.
The offering is expected to close on or about March 20, 2019, subject to the satisfaction of customary closing conditions.
Although the healthcare sector is still growing, if companies continue as they have been, the future looks promising.
VXRT should be considered a buy if recent momentum continues.
Look for an entry at $2.14 with a price target of at least $4.11 based on the pattern in the chart.