VXRT - Why Vaxart Stock Is Retreating Today
Shares of the clinical-stage biotech Vaxart (NASDAQ: VXRT) slid by as much as 11.3% in early-morning action Wednesday. The developmental vaccine company's shares appear to be reacting negatively to the news that Johnson & Johnson (NYSE: JNJ) has advanced its single-shot COVID-19 vaccine candidate, known as Ad26.COV2.S (JNJ-78436735), into a pivotal-stage trial.
Although the study's full results won't be ready until March 2023, J&J's chief scientific officer, Paul Stoffels, said in a press conference that the vaccine's safety and efficacy profile could become known quantities by year's end. That's potentially bad news for other COVID-19 vaccine developers like Vaxart who are only now entering early-stage trials.
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Why Vaxart Stock Is Retreating Today