In a regulatory filing, Vaxart (VXRT) stated: “As previously disclosed on June 13, 2024, Vaxart, Inc. entered into an agreement with Advanced Technology International, the Consortium Management Firm of the Rapid Response Partnership Vehicle funded by the Biomedical Advanced Research and Development Authority of the U.S. Department of Health and Human Services. Pursuant to the Project Agreement, the Company receives funding for a Phase 2b comparative study evaluating the Company’s oral pill XBB COVID-19 vaccine candidate against an mRNA vaccine comparator approved by the U.S. Food and Drug Administration. On December 20, 2024, the Company entered into Modification No. 4 to the Project Agreement. The Modification increased the total estimated ceiling for the funding to the Company to approximately $460.7M, representing an increase of approximately $4.6M, and increased the total amount of funding currently allotted to the Trial and available for payment to approximately $134.2M, representing an increase of approximately $37.7M. A portion of the additional funding is for the Company to acquire and distribute to clinical sites the mRNA comparator and other clinical materials for use in the Trial as well as to support clinical trial site readiness for the main efficacy and safety portion of the Trial.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on VXRT:
