VXRT - Why Shares of Vaxart Are Soaring Today
Shares of clinical-stage vaccine developer Vaxart (NASDAQ: VXRT) are up again today, gaining 12.34% to $9.83 apiece as of 2:30 p.m. EDT. The stock is up 21% over the past five trading days due to greater capital inflows after the company released encouraging second-quarter earnings on Aug. 5.
Vaxart managed to raise $36.2 million during the quarter via issuing new stock -- bringing its cash balance to $177.3 million. That is quite significant for a company with a market cap just north of $1 billion. In addition, the company received clearance from the U.S. Food and Drug Administration to move into phase 2 clinical trials for its experimental oral coronavirus vaccine.
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Why Shares of Vaxart Are Soaring Today