Reported Q: Q1 2024 Rev YoY: +684.5% EPS YoY: +92.6% Move: -4.41%
Vaxart Inc
VXRT
$0.650 -4.41%
Exchange NASDAQ Sector Healthcare Industry Biotechnology
Q1 2024
Published: May 13, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for VXRT

Reported

Report Date

May 13, 2024

Quarter Q1 2024

Revenue

2.18M

YoY: +684.5%

EPS

-0.01

YoY: +92.6%

Market Move

-4.41%

Previous quarter: N/A

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Earnings Highlights

  • Revenue of $2.18M up 684.5% year-over-year
  • EPS of $-0.01 increased by 92.6% from previous year
  • Gross margin of 49.6%
  • Net income of -24.42M
  • "we are very pleased with the recent positive results from the Phase I clinical trial evaluating our oral pill bivalent norovirus vaccine candidate in lactating mothers." - Steven Lo
VXRT
Company VXRT

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Executive Summary

Vaxart reported a first quarter of 2024 with modest revenue growth and a substantial operating loss driven by research and development and general and administrative expenses. Revenue totaled $2.181 million, aided by BARDA-related activity and noncash royalties from Inavir in Japan, while gross profit matched revenue at $2.181 million, yielding a gross margin of about 49.6%. The companyโ€™s cash position stood at roughly $36.7 million in total cash, cash equivalents and investments, with the cash runway extending into late Q4 2024, assuming ongoing BARDA reimbursements and no material new cash receipts in the near term. Management highlighted meaningful progress across the core pipeline: positive Phase I norovirus data in lactating mothers, expected FDA discussions in mid-2024 to refine the regulatory path for a potential Phase IIb dose-confirmation study, and ongoing preparations to initiate a 10,000-subject Phase IIb COVID-19 trial (XBB construct) potentially as early as Q2 2024, contingent on funding and regulatory alignment. The mix of funding momentum (BARDA support) and strong execution on manufacturing readiness underpins the near-term catalyst profile, though the company remains heavily dependent on external funding and regulatory approvals to extend its cash runway and advance its programs toward pivotal trials. Investors should monitor BARDA funding progress, FDA feedback, and the pace of data readouts from norovirus correlates of protection and immunogenicity endpoints for the COVID-19 program, as these will largely determine the trajectory of next-year milestones and potential value creation.

Key Performance Indicators

Revenue
Increasing
2.18M
QoQ: -32.79% | YoY: 684.53%
Gross Profit
Increasing
2.18M
49.56% margin
QoQ: 6.65% | YoY: 684.53%
Operating Income
Increasing
-24.07M
QoQ: -42.43% | YoY: 5.87%
Net Income
Increasing
-24.42M
QoQ: -40.53% | YoY: 2.88%
EPS
Increasing
-0.01
QoQ: -27.27% | YoY: 92.63%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
Q1 2025 20.88 -0.07 +857.2% View
Q4 2024 15.19 -0.01 +368.0% View
Q3 2024 4.93 -0.01 +1.0% View
Q2 2024 6.40 -0.01 +371.4% View
Q1 2024 2.18 -0.01 +684.5% View