Vaxart Q2 rev $39.7M; norovirus antibodies up 141%; COVID trial stopped at 5K enrolled

Vaxart, Inc.

Q2 2025 revenue $39.7M (vs $6.4M YoY); net loss $15.0M ($0.07/sh) vs $16.5M ($0.09/sh).
Positive norovirus Phase 1: second-gen constructs raised GI.1 blockers 141%, GII.4 94% vs first-gen.
COVID-19 Phase 2b enrollment halted Aug 5 at ~5,000 of planned 10,000; follow-up continues through late 2026.
Cash $26.3M; runway into Q1 2026; exploring partnerships and non-dilutive funding to extend.
Special meeting Sep 5 to vote on reverse stock split (1:5 to 1:20) for Nasdaq compliance.

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