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Vaxart, Inc. (VXRT) Enters into New Equity Offering Sales Agreement

Thursday, September 16, 2021 08:22 AM | Carl Pettit
Vaxart, Inc. (VXRT) Enters into New Equity Offering Sales Agreement

What’s Going on with Vaxart, Inc.?

Yesterday, Sept. 15, Vaxart, Inc. (VXRT) entered into a controlled equity offering sales agreement, intending to sell up to $100 million worth of the company’s common stock. The clinical-stage biotechnology firm also terminated a previously disclosed open market sales agreement on September 13, 2021. Pre-market today, VXRT stock was trading at $8.07, representing a 1.47% decrease in value per share.

What Does This Mean for VXRT?

Vaxart, Inc., on September 15, 2021, entered into an equity offering sales agreement with Cantor Fitzgerald & Co. and B. Riley Securities Inc. that allows Vaxart (along with the sales agent, Jefferies) to time to time offer company common stock “par value $0.0001 per share, having an aggregate offering price of up to $100.0 million.”

In other news, Vaxart, Inc. also terminated a previously disclosed open market sale agreement — filed on October 14, 2020 — with the termination coming into effect on September 13, 2021. Related to this previous (now closed) agreement, Vaxart “sold 13,932,490 shares of its common stock” for around $133.4 million in aggregate proceeds.

Fundamental Score - 62

VXRT has a Fundamental Rank of 62. Find out what this means to you and get the rest of the rankings on VXRT!

Vaxart Inc is a clinical-stage biotechnology company. It focuses on the development of oral recombinant vaccines to protect against a wide range of infectious diseases. The products under its tablet pipeline consist of the treatment of Coronavirus, Norovirus, Seasonal Influenza, RSV(respiratory syncytial virus), and HPV(Human papillomavirus) Therapeutic. It operates in a single segment, which is the discovery and development of oral recombinant protein vaccines. Geographically all the business activity functions through the region of the United States.

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