The following is a summary of the Vaxart, Inc. (VXRT) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Vaxart reported a revenue of $7.4 million in 2023, an increase compared to $0.1 million in 2022, primarily due to the Bill & Melinda Gates Foundation grant and increased sales of Inavir in Japan.

• The company ended 2023 with cash, cash equivalents, and investments totaling $39.7 million, and raised an additional $15 million in net proceeds in early 2024, estimating a cash runway into the fourth quarter of 2024.

• Vaxart received a $9.27 million contract from BARDA to prepare for a 10,000-subject Phase 2b clinical trial of their oral pill XBB COVID-19 vaccine candidate, potentially beginning in Q2 2024.

Business Progress:

• Vaxart saw growth in their norovirus program and completed two phase 2 studies in 2023.

• The company established proof of concept in two challenge studies for respiratory and gastrointestinal viruses.

• Vaxart progressed with their COVID-19 vaccine program, aiming to produce more effective vaccines against various strains of the virus, with the support of a recent BARDA contract award.

• The company has planned a meeting with the FDA in 2024 over their Phase 2b dose confirmation study and believes they have the most advanced norovirus vaccine candidate in clinical development.

• The company has appointed a new President and CEO, Steve Lo.

More details: Vaxart IR

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