Vaxart Inc (NASDAQ: VXRT) is making a run for the top in the market this morning. In fact, the gains are better stated in multiples than percentages.
The movement in the value of the stock comes after the announcement of a clinical trial initiation. Today, we’ll talk about:
- The trial initiation;
- what we’re seeing from VXRT stock as a result; and
- what we’ll be watching for ahead.
VXRT Announces Clinical Trial Initiation
As mentioned above, Vaxart is having a great start to the trading session this morning, gaining in multiples after announcing a clinical trial initiation. The announcement came by way of press release in the pre-market hours this morning.
In the release, VXRT said that it has initiated its Phase 1b bivalent norovirus vaccine clinical trial. The trial will consist of two parts. It will be an open-label lead-in phase. During the first part of the trial, 6 subjects will be dosed with norovirus GII.4 vaccine.
The second part of the trial will be a double-blind, placebo-controlled phase. In this phase of the trial, 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.
The study will ultimately evaluate the safety and immunogenicity of the drug. Also, the company said that it remains on track to initiate the Phase 2 monovalent norovirus challenge study in the second quarter of this year with results expected in the second half.
In a statement Wouter Latour, M.D., CEO at VXRT, had the following to offer:
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. 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.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Vaxart, the news proved to be overwhelmingly positive.
After all, this trial initiation brings its norovirus vaccine candidate one step further down the line of development. Moreover, the company is on track to initiate a Phase 2 trial soon, leading to further excitement.
Considering this, it’s not surprising to see that investors are sending the stock on a run for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:47), VXRT is trading at $4.06 per share after a gain of $2.39 per share or 141.96% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on VXRT. In particular, we’re interested in following the story surrounding the comapny’s continued work to develop its impressive pipeline of vaccine candidates. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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