---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-034829"
form_type: "8-K"
ticker: "VXRT"
cik: "0000072444"
company_name: "Vaxart, Inc."
filed_at: "2025-11-13T23:59:59+00:00"
generated_at: "2026-05-16T20:43:15.187942+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Vaxart reports Q3 revenue $72.4M, net loss $8.1M; signs Dynavax COVID-19 pill license deal worth up to $700M

## Summary
- Revenue $72.4M (vs $4.9M Q3 2024) from BARDA contract; net loss $8.1M ($0.04 EPS) vs $14.1M loss.
- Exclusive license with Dynavax: $25M upfront + $5M equity; up to $700M in milestones and royalties.
- Phase 2b COVID-19 trial enrollment completed (~5,400); topline data expected late 2026, sentinel cohort Q1 2026.
- Cash, equivalents, investments $28.8M; with Dynavax payment runway extended to Q2 2027.
- Phase 1 norovirus oral vaccine data shows robust fecal IgA; partnership discussions ongoing.

## SEC filing metadata
- accession: 0001437749-25-034829
- form_type: 8-K
- ticker: VXRT
- cik: 0000072444
- company_name: Vaxart, Inc.
- filed_at: 2025-11-13T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/72444/000143774925034829/0001437749-25-034829-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/72444/000143774925034829/vxrt20251112c_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-034829
- JSON: https://secwatch.observer/filing/0001437749-25-034829.json
- Plain text: https://secwatch.observer/filing/0001437749-25-034829.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.