Vaxart Q1 net loss $15.6M; COVID-19 Phase 2b screening underway, CFO appointed

Vaxart, Inc.

2026-Q1 EPS reported -$0.07 vs consensus $0.02 ▼ miss (-443.1%)

Net loss $15.6M ($0.07/shr) vs $24.4M ($0.14) prior year; revenue $20.9M from BARDA contract (vs $2.2M).
Cash $41.9M; runway into Q1 2026; Project NextGen award up to $460.7M, $85.6M received to date.
Screening for 10,000-person COVID-19 Phase 2b trial started; dosing expected Q2 2025 after stop work order lifted.
Norovirus Phase 1 enrollment complete (60 participants); topline data mid-2025; avian flu vaccine 100% protective in ferret model.
Jeroen Grasman appointed CFO effective May 19, 2025; Phillip Lee resigning as CFO for personal reasons.

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