Vaxart Secures Funding Through Dynavax Partnership, Aiming for Data Releases in 2026 and Cash Runway Until Q2 2027

Partnership Announcement: Vaxart, Inc. has formed a significant partnership with Dynavax, potentially worth up to $700 million, which includes an upfront license fee and equity investment, extending Vaxart's cash runway into Q2 2027.

Clinical Development Progress: The company reported positive Phase I results for its norovirus program and is on track to provide COVID-19 vaccine data in 2026, with ongoing funding from BARDA for clinical trials.

Financial Performance: Vaxart's revenue for Q3 2025 reached $72.4 million, a substantial increase from the previous year, supported by the BARDA contract, while maintaining $28.8 million in cash and investments.

Management Outlook: The management expressed increased confidence following the Dynavax deal, focusing on advancing their vaccine programs and seeking additional partnerships to support future developments.