Shares of Vaxart Inc. nearly doubled after the company reported that it has signed a Memorandum of Understanding with Attwill Medical Solutions Sterilflow to enable production of a billion or more tablet COVID-19 vaccine doses annually.
Clinical-stage biotechnology company Vaxart Inc. (VXRT:NASDAQ), which develops oral vaccines administered by tablet, today announced that "it signed a Memorandum of Understanding with Attwill Medical Solutions Sterilflow, LP (AMS) affirming the parties' intent to establish AMS as a resource for lyophilization development and large scale manufacturing including tableting and enteric coating for Vaxart's oral COVID-19 vaccine."
The firm indicated that once a formal agreement is finalized and executed, AMS will be allocating resources and equipment for ramping up commercial production of the vaccine.
Vaxart CEO Andrei Floroiu commented, "We believe AMS' experience coupled with its ability to manufacture a billion or more doses per year would be a beneficial addition to our group of CDMO partners and enable the large scale manufacturing and ultimate supply of our COVID-19 vaccine for the US, Europe and other countries in need...We believe our oral vaccines, generated on our proven platform, have the potential to offer superior protection against airborne viruses such as SARS-CoV-2 by triggering both mucosal and systemic immunity while being administered by a room temperature-stable tablet, an enormous logistical advantage in large vaccination campaigns."
Vaxart is a clinical-stage biotechnology company based in South San Francisco, Calif. The firm focuses its efforts on the development of oral tablet vaccines for use in a wide range of infectious diseases.
Vaxart began the day with a market capitalization of around $236.6 million with approximately 74.18 million shares outstanding and a short interest of about 5.50%. VXRT shares opened 13% higher today at $3.61 (+$0.42, +13.17%) over yesterday's $3.19 closing price and reached a new 52-week high price today of $6.48. The stock has traded today between $3.45 to $6.48 per share and closed at $6.26 (+$3.07, +96.24%).
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