Q1 2024 Vaxart Inc Earnings Call Transcript
Key Points
- Vaxart Inc (VXRT) reported positive results from the Phase 1 clinical trial of its oral pill bivalent norovirus vaccine candidate in lactating mothers, showing significant antibody increases in breast milk.
- The company is preparing for a Phase 2b trial of its COVID-19 XBB vaccine candidate, with potential initiation as early as this quarter, pending additional funding and regulatory alignment.
- Vaxart Inc (VXRT) has received initial contract support from BARDA for its COVID-19 vaccine development under Project NextGen.
- Recent preclinical data suggests that the COVID-19 XBB vaccine construct has produced a more robust immunogenic response compared to previous constructs.
- The company ended the first quarter with $36.7 million in cash, cash equivalents, and investments, providing a financial runway into late fourth quarter of 2024.
- Vaxart Inc (VXRT) is still in need of securing additional funding to initiate the COVID-19 Phase 2b trial.
- The company's financial results show a reliance on BARDA funding and contracts, which could pose risks if not sustained or expanded.
- There are inherent risks in clinical development, as highlighted by the forward-looking statements disclaimer, indicating potential future challenges in product development and regulatory approvals.
- The safety data from the norovirus vaccine study remains blinded and will only become available 12 months after enrollment, delaying full assessment of the vaccine's safety profile.
- Vaxart Inc (VXRT) faces the challenge of securing regulatory alignment and meeting FDA requirements for advancing its vaccine candidates to later stages of clinical trials.
Greetings, and welcome to the Vaxart business update and first-quarter 2024 financial results conference call. A question-and-answer session will follow management's opening remarks. Individual investors may submit written questions to [email protected]. As a reminder, this conference is being recorded. I would now like to turn the webcast over to your host, Ed Berg, Senior Vice President and General Counsel.
Good afternoon, and welcome to today's call. Joining us from Vaxart are Steven Lo, Chief Executive Officer; Dr. Sean Tucker, Founder and Chief Scientific Officer; Dr. James Cummings, Chief Medical Officer; and Phillip Lee, Chief Financial Officer. Before we begin, I would like to remind everyone that during this conference call, Vaxart may make forward-looking statements, including statements about the company's financial results, financial guidance, its future business strategies and operations, and its product development and regulatory progress, including statements about its ongoing or planned clinical trials.
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