VXRT - Why Vaxart Stock Is Soaring Today
Shares of Vaxart (NASDAQ: VXRT) are up by 13.2% as of 11:14 a.m. EDT on Thursday, after the company announced the publication of a new study that estimates the annual cost of norovirus gastroenteritis in the U.S. The data from the study in question, published in the Journal of Infectious Diseases, makes a strong case that a vaccine for norovirus would save billions of dollars every year.
Norovirus is a contagious virus that causes such symptoms as vomiting and diarrhea. According to this new study, outbreaks of norovirus cost the U.S. a median of $10.6 billion every year. Further, outbreaks that go unreported account for more than 90% of all the costs, according to the data. The study also says that about half of the expenses associated with the norovirus happen during winter.
This virus is particularly costly for employers since productivity losses account for about 89% of the costs. There is currently no vaccine for the norovirus approved by the U.S. Food and Drug Administration. However, Vaxart -- which specializes in the development of oral vaccines -- currently has a norovirus vaccine candidate in its pipeline.