On April 28, 2020 Vaxart, Inc., a clinical-stage biotechnology company developing oral recombinant vaccines that are administered by tablet rather than by injection, reported an update on its financials for the first quarter of 2020, and a corporate update ahead of its presentation at the Maxim Infectious Disease Virtual Conference on May 5, 2020 (Press release, Vaxart, APR 28, 2020, View Source [SID1234556733]).

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"This has been a busy quarter at Vaxart, as we have focused on developing a vaccine candidate for COVID-19." said Wouter Latour, MD, chief executive officer of Vaxart Inc. "We believe our oral tablet vaccine could be an important tool to help protect the global population from COVID-19."

2020 Q1 Financials Update and Recent Corporate Highlights:

Vaxart had cash of $29.9 million as of March 31, 2020.

Vaxart received a total of $10.3 million from warrant exercises during the quarter.

Vaxart will receive $2.8 million in royalty revenue for Q1 2020.

On April 21, 2020, Vaxart announced that its lead vaccine candidates generated anti-SARS CoV-2 antibodies in all tested animals after the first dose. The Company expects to announce additional four-week data within days and the selection of lead development candidate shortly thereafter.

Vaxart is continuing with its manufacturing collaboration with Emergent and provided Vaxart elects to proceed, is on schedule to produce bulk cGMP vaccine in time for initiation of a Phase 1 clinical study during the second half of 2020.

The Universal Influenza vaccine collaboration with Janssen remains on schedule to provide results in mid-2020.

The Company continues to pursue strategic, financial and public-private partnerships to advance its development candidates, including its coronavirus vaccine candidates, norovirus and seasonal influenza vaccine programs.