Vaxart Highlights Oral Vaccine Platform, COVID Trial Progress at H.C. Wainwright Conference

Vaxart Highlights Oral Vaccine Platform, COVID Trial Progress at H.C. Wainwright Conference Written by MarketBeat September 15, 2026 Add As Preferred Source Share Share Share This Article Link copied to clipboard. Close Image from MarketBeat Media, LLC. Key Points Vaxart’s oral vaccine platform uses thermostable Ad5-based tablets designed to generate both systemic and mucosal immunity, potentially reducing reliance on injections and cold-chain storage. The company has completed enrollment of roughly 5,400 participants in its BARDA-funded Phase IIb COVID-19 trial; the 12-month relative efficacy results are expected in the first half of 2027. Early Sentinel-cohort data showed no vaccine-related serious safety concerns and fewer reported adverse events than the mRNA comparator arm. Vaxart is seeking funding or partnerships to advance its Phase II norovirus candidate and earlier-stage influenza programs, while saying its cash runway extends into the first half of 2027. MarketBeat previews top five stocks to own in October . 3 Stocks Under $5 With Strong Analyst Upside Potential Vaxart OTCMKTS: VXRT Chief Executive Officer Steve Lo outlined the company’s oral vaccine platform, its government-funded COVID-19 study and development opportunities in norovirus and influenza during an H.C. Wainwright conference presentation. Lo said Vaxart’s recombinant adenovirus type 5, or Ad5, delivery platform is designed to administer vaccines as thermostable oral pills rather than injections. The company is developing candidates for COVID-19, norovirus and influenza. According to Lo, the pill is intended to dissolve in the intestine and generate both systemic and mucosal immune responses, in contrast with injectable vaccines that primarily generate systemic immunity. Get Vaxart alerts: Sign Up The company has dosed 3,880 subjects across its clinical studies to date and has manufacturing operations in South San Francisco, Lo said. He emphasized potential logistical benefits of an oral vaccine, including no cold-chain storage, no needles and the ability for patients to self-administer doses. COVID-19 Study Enrollment Complete Vaxart has fully enrolled approximately 5,400 participants in its BARDA-funded Phase IIb COVID-19 clinical trial, which compares the company’s oral vaccine candidate with an approved mRNA vaccine. The primary objectives include safety and tolerability, immunogenicity and relative vaccine efficacy. The study consists of a 400-subject Sentinel safety cohort and a main cohort of approximately 5,000 participants. Lo said the main cohort’s 12-month relative efficacy endpoint is expected to read out in the first half of 2027. In the Sentinel cohort, Vaxart reported no vaccine-related serious adverse events in either study arm and no sustained Grade 3 or higher adverse events related to vaccination. Participants receiving Vaxart’s oral vaccine and a placebo injection reported fewer adverse events than participants receiving a placebo pill and the mRNA comparator, according to Lo. Vaxart reported lower levels of injection-site pain, tenderness and swelling in its study arm, despite participants receiving a placebo injection to maintain trial blinding. The company also said the mRNA comparator arm showed higher rates of malaise, fatigue, headache and muscle pain. COVID-19 case counts, including symptomatic and asymptomatic cases, were similar between the two arms in the Sentinel cohort. Lo noted that the Sentinel cohort was not designed or powered to establish a statistically significant efficacy comparison. He said the company viewed the similar case counts and lower reported reactogenicity as encouraging ahead of the larger study readout. Vaxart’s COVID-19 program is partnered with Sanofi. Lo said Sanofi holds a worldwide license agreement and may choose to opt in following the Phase IIb results. Vaxart previously received a $25 million upfront payment and a $5 million equity investment under the collaboration, he said. If Sanofi opts in, Vaxart could be eligible for up to $670 million in milestone payments and tiered royalties in the low- to mid-teens, with a potential $50 million opt-in milestone. Norovirus Candidate Awaiting Funding or Partnership Lo also highlighted Vaxart’s second-generation bivalent norovirus vaccine candidate, which targets the GI.1 and GII.4 strains. He said the company estimates norovirus causes 22 million U.S. cases annually and creates more than $10 billion in annual domestic economic burden, while no approved vaccines currently exist. Vaxart’s first-generation norovirus construct was evaluated in a GI.1 challenge study and showed a relative reduction in infection and norovirus acute gastroenteritis symptoms versus placebo, according to Lo. The company used findings from that work, including its norovirus-blocking antibody assay, or NBAA, as a correlate to guide development of the second-generation candidate. Lo said the newer construct demonstrated improved geometric fold rises in the NB