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Vaxart (VXRT) Enters an Agreement With Altesa for Antiviral
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Clinical-stage biotechnology company, Vaxart, Inc. (VXRT - Free Report) , announced that it has signed an exclusive worldwide licensing agreement with Altesa Biosciences, Inc.
Please note that Altesa is a clinical-stage pharmaceutical company developing therapeutics addressing RNA viruses.
Per the agreement, Altesa obtained the worldwide, exclusive right to develop, manufacture and commercialize Vaxart’s proprietary formulation of vapendavir, a clinical-stage, broad-spectrum antiviral. In exchange, Vaxart is eligible to receive up to $130 million in development and commercial milestones, as well as tiered royalties ranging from the low-single to low-double digits on product sales for multiple indications.
Vaxart acquired vapendavir in 2018 as part of the merger with Aviragen Therapeutics, Inc. In preclinical and clinical studies, vapendavir was found to be active against a broad spectrum of enteroviruses and could combat respiratory infections produced by the human rhinovirus (HRV).
Per Vaxart, vapendavir has potential applications in treating a range of infections, which include epidemic hand, foot and mouth disease (HFMD), which is mostly prevalent in developing countries; HRV infection in chronic obstructive pulmonary disease (COPD) patients; and several diseases affecting children, including enteroviral infections, seasonal recurrent lower respiratory tract infection (LRTI) in preschoolers and seasonal asthma exacerbation in school-age children.
Shares of Vaxart have rallied 28.1% so far this year against the industry’s decrease of 8.9%.
Image Source: Zacks Investment Research
The company is also developing an oral tablet vaccine to protect against SARS-CoV-2. It has completed human dosing in its phase I study of SARS CoV-2 vaccine candidate that commenced in October 2020 and met the primary and secondary endpoints.
On the first-quarter call, Vaxart stated that it will advance three oral tablet COVID-19 vaccine candidates to the clinic — VXA-CoV2-1 (includes both the S and the N proteins) into phase II and two S-only constructs into phase I/II.
It has inked an agreement with Emergent BioSolutions Inc. (EBS - Free Report) , whereby the latter will deploy its molecule-to-market contract development and manufacturing (CDMO) services to help develop and manufacture Vaxart’s experimental oral vaccine candidate for the coronavirus disease.
The development of an oral vaccine will be a significant boost for Vaxart, given the urgent and significant need, and the convenience of an oral formulation.
The company is also developing an oral tablet vaccine for norovirus, a leading cause of acute gastroenteritis in the United States and Europe.
Zoetis’ earnings estimates are up 7 cents for 2021 and 9 cents for 2022 over the past 90 days. The stock has rallied 16.5% year to date.
Bayer’s earnings estimates are up 6 cents for 2021 and 11 cents for 2022 over the past 60 days. The stock has gained 3.6% year to date.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
Vaxart (VXRT) Enters an Agreement With Altesa for Antiviral
Clinical-stage biotechnology company, Vaxart, Inc. (VXRT - Free Report) , announced that it has signed an exclusive worldwide licensing agreement with Altesa Biosciences, Inc.
Please note that Altesa is a clinical-stage pharmaceutical company developing therapeutics addressing RNA viruses.
Per the agreement, Altesa obtained the worldwide, exclusive right to develop, manufacture and commercialize Vaxart’s proprietary formulation of vapendavir, a clinical-stage, broad-spectrum antiviral. In exchange, Vaxart is eligible to receive up to $130 million in development and commercial milestones, as well as tiered royalties ranging from the low-single to low-double digits on product sales for multiple indications.
Vaxart acquired vapendavir in 2018 as part of the merger with Aviragen Therapeutics, Inc. In preclinical and clinical studies, vapendavir was found to be active against a broad spectrum of enteroviruses and could combat respiratory infections produced by the human rhinovirus (HRV).
Per Vaxart, vapendavir has potential applications in treating a range of infections, which include epidemic hand, foot and mouth disease (HFMD), which is mostly prevalent in developing countries; HRV infection in chronic obstructive pulmonary disease (COPD) patients; and several diseases affecting children, including enteroviral infections, seasonal recurrent lower respiratory tract infection (LRTI) in preschoolers and seasonal asthma exacerbation in school-age children.
Shares of Vaxart have rallied 28.1% so far this year against the industry’s decrease of 8.9%.
The company is also developing an oral tablet vaccine to protect against SARS-CoV-2. It has completed human dosing in its phase I study of SARS CoV-2 vaccine candidate that commenced in October 2020 and met the primary and secondary endpoints.
On the first-quarter call, Vaxart stated that it will advance three oral tablet COVID-19 vaccine candidates to the clinic — VXA-CoV2-1 (includes both the S and the N proteins) into phase II and two S-only constructs into phase I/II.
It has inked an agreement with Emergent BioSolutions Inc. (EBS - Free Report) , whereby the latter will deploy its molecule-to-market contract development and manufacturing (CDMO) services to help develop and manufacture Vaxart’s experimental oral vaccine candidate for the coronavirus disease.
The development of an oral vaccine will be a significant boost for Vaxart, given the urgent and significant need, and the convenience of an oral formulation.
The company is also developing an oral tablet vaccine for norovirus, a leading cause of acute gastroenteritis in the United States and Europe.
Zacks Rank & Stocks to Consider
Vaxart currently carries a Zacks Rank#3 (Hold). A couple of better-ranked stocks in the healthcare sector include Zoetis Inc. (ZTS - Free Report) and Bayer (BAYRY - Free Report) , both carrying a Zacks Rank #2 (Buy), at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zoetis’ earnings estimates are up 7 cents for 2021 and 9 cents for 2022 over the past 90 days. The stock has rallied 16.5% year to date.
Bayer’s earnings estimates are up 6 cents for 2021 and 11 cents for 2022 over the past 60 days. The stock has gained 3.6% year to date.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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