Vaxart Inc Stock Research

Market Summary

USD0.79+0.03

Delayed

3.95%

VXRT Stock Price

VXRT RSI Chart

VXRT Valuation

Market Cap

101.4M

Price/Earnings (Trailing)

-0.97

Price/Sales (Trailing)

637.62

EV/EBITDA

-0.51

Price/Free Cashflow

-1.15

VXRT Price/Sales (Trailing)

VXRT Profitability

EBT Margin

-65745.28%

Return on Equity

-85.53%

Return on Assets

-59.67%

Free Cashflow Yield

-86.95%

VXRT Fundamentals

VXRT Revenue

Revenue (TTM)

159.0K

Revenue Y/Y

-100%

Revenue Q/Q

-100%

VXRT Earnings

Earnings (TTM)

-104.6M

Earnings Y/Y

-66.69%

Earnings Q/Q

0.41%

Price Action

52 Week Range

0.735.43

(Low)(High)

Last 7 days

-6.8%

Last 30 days

-16.5%

Last 90 days

-31.5%

Trailing 12 Months

-83.0%

VXRT Financial Health

Current Ratio

5.54

VXRT Investor Care

Shares Dilution (1Y)

3.51%

Peers (Alternatives to Vaxart)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
AMGN	125.3B	26.3B	-2.75%	3.76%	19.12	4.76	1.32%	11.18%
GILD	99.6B	27.3B	-8.96%	41.01%	21.68	3.65	-0.09%	-26.23%
MRNA	58.4B	19.3B	-12.76%	1.00%	6.99	3.03	4.29%	-31.47%
BIIB	38.3B	10.2B	-9.67%	32.94%	12.57	3.76	-7.36%	95.80%
MID-CAP
NBIX	9.1B	1.5B	-9.09%	3.35%	58.87	6.11	31.34%	72.43%
DNLI	3.2B	108.5M	-21.10%	-19.55%	-9.78	29.38	122.90%	-12.19%
BEAM	2.5B	60.9M	-18.47%	-36.46%	-8.76	41.55	17.51%	22.00%
BBIO	2.1B	107.9M	22.95%	67.45%	-4.29	19.27	54.84%	17.36%
SMALL-CAP
RCUS	1.2B	112.0M	-14.86%	-46.41%	-4.63	11.04	-70.76%	-603.77%
REPL	1.1B	7.0M	-22.18%	24.65%	-7.11	158.97	131.81%	-45.39%
FATE	541.9M	96.3M	-12.99%	-82.24%	-1.92	5.63	72.44%	-32.79%
NVAX	513.7M	2.0B	-39.67%	-92.01%	-0.78	0.26	72.89%	62.27%
SGMO	355.3M	111.3M	-30.55%	-58.78%	-1.85	3.19	0.54%	-7.86%
VXRT	101.4M	159.0K	-16.47%	-82.96%	-0.97	637.62	-86.46%	-64.56%
IBIO	25.1M	-	94.03%	-77.12%	-0.31	3.21	0.51%	-185.61%

Financials for Vaxart

Income Statement (Last 12 Months)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Revenue	-32.7%	107,000	159,000	359,000	471,000	892,000
Operating Expenses	6.4%	114,694,000	107,823,000	95,848,000	82,488,000	73,644,000
S&GA Expenses	2.4%	29,386,000	28,693,000	26,775,000	22,604,000	21,890,000
R&D Expenses	6.5%	81,054,000	76,125,000	66,068,000	56,879,000	48,749,000
EBITDA	-12.7%	-99,422,000	-88,233,000	-75,132,000	-66,155,000	-
EBITDA Margin	-154.4%	-625	-245	-159	-74.16	-
Earnings Before Taxes	-3.0%	-107,691,000	-104,535,000	-92,804,000	-79,475,000	-70,363,000
EBT Margin	-154.3%	-657	-258	-168	-78.88	-
Interest Expenses	-	0.00	-	-	-	-
Net Income	-3.0%	-107,758,000	-104,604,000	-92,878,000	-79,564,000	-70,470,000
Net Income Margin	-154.3%	-657	-258	-168	-79.00	-
Free Cahsflow	-1.2%	-88,156,000	-87,104,000	-74,241,000	-64,989,000	-

* denotes actual numbers (not divided by Millions)
Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Assets	-12.2%	154	175	181	200	221
Current Assets	-17.4%	99.00	120	138	154	169
Cash Equivalents	-9.4%	46.00	51.00	91.00	123	144
Net PPE	26.9%	16.00	12.00	9.00	8.00	7.00
Goodwill	0%	5.00	5.00	5.00	5.00	5.00
Liabilities	-18.4%	43.00	53.00	38.00	34.00	34.00
Current Liabilities	-17.6%	18.00	22.00	16.00	11.00	11.00
Shareholder's Equity	-9.6%	111	122	143	166	188
Retained Earnings	-7.9%	-327	-303	-273	-244	-219
Additional Paid-In Capital	2.8%	438	426	417	411	407
Accumulated Depreciation	23.0%	3.00	2.00	2.00	1.00	-
Shares Outstanding	4.6%	134	128	126	126	126

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q4	2022Q3	2022Q2	2022Q1	2021Q4
Cashflow From Operations	-16.4%	-94.78	-81.44	-81.09	-68.35	-59.83
Share Based Compensation	3.7%	14.00	13.00	12.00	11.00	9.00
Cashflow From Investing	54.0%	-20.41	-44.39	-17.73	-24.81	-49.10
Cashflow From Financing	86.3%	17.00	9.00	25.00	59.00	126

Risks for VXRT

What is the probability of a big loss on VXRT?

100%

Probability that Vaxart stock will be more than 20% underwater in next one year

100%

Probability that Vaxart stock will be more than 30% underwater in next one year.

100%

Probability that Vaxart stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does VXRT drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Vaxart was unfortunately bought at previous high price.

Drawdowns

Returns for VXRT

Cumulative Returns on VXRT

-34.5%

5-Year Cumulative Returns

-19.5%

3-Year Cumulative Returns

What are the long-term rolling returns for VXRT?

FIve years rolling returns for Vaxart.

Annualized Returns

Which funds bought or sold VXRT recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-03-10	VICTORY CAPITAL MANAGEMENT INC	reduced	-0.04	-17,342	13,658	-%
2023-02-28	Voya Investment Management LLC	unchanged	-	-56,479	44,521	-%
2023-02-24	NATIXIS	sold off	-100	-42,000	-	-%
2023-02-21	MACQUARIE GROUP LTD	sold off	-100	-20,000	-	-%
2023-02-16	GHP Investment Advisors, Inc.	unchanged	-	154	154	-%
2023-02-16	HARBOUR INVESTMENTS, INC.	unchanged	-	-3,550	1,450	-%
2023-02-15	JANE STREET GROUP, LLC	added	389	454,952	847,952	-%
2023-02-15	CI Private Wealth, LLC	new	-	17,608	17,608	-%
2023-02-15	Metropolitan Life Insurance Co/NY	added	7.11	-8,255	7,745	-%
2023-02-15	Steward Partners Investment Advisory, LLC	reduced	-20.00	-2,463	1,537	-%

Latest Funds Activity

Are funds buying VXRT calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own VXRT

No. of Funds

Vaxart News

Schedule 13G FIlings of Vaxart

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Feb 09, 2023	vanguard group inc	5.35%	7,019,507	SC 13G
Feb 01, 2023	blackrock inc.	6.7%	8,858,225	SC 13G/A
Jan 10, 2023	state street corp	1.83%	2,398,264	SC 13G/A
Mar 10, 2022	state street corp	10.39%	13,072,021	SC 13G/A
Feb 11, 2022	state street corp	8.91%	11,187,642	SC 13G/A
Feb 07, 2022	blackrock inc.	6.7%	8,452,420	SC 13G
Feb 11, 2021	state street corp	8.63%	9,444,967	SC 13G
Jun 09, 2020	armistice capital, llc	19.99%	16,785,583	SC 13D/A
May 27, 2020	armistice capital, llc	11.3%	8,400,000	SC 13D/A
May 18, 2020	armistice capital, llc	14.0%	10,350,000	SC 13D/A

VXRT Fair Value

Vaxart fair value in different scenarios

The table shows the Fair Value estimates for Vaxart for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	0.23 -70.89%	0.23 -70.89%	0.23 -70.89%	0.23 -70.89%	0.23 -70.89%
Current Inflation	0.23 -70.89%	0.23 -70.89%	0.23 -70.89%	0.23 -70.89%	0.23 -70.89%
Very High Inflation	0.23 -70.89%	0.23 -70.89%	0.23 -70.89%	0.23 -70.89%	0.23 -70.89%

Historical Vaxart Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Vaxart

View All Filings

Date Filed	Form Type	Document
Mar 16, 2023	8-K	Current Report
Mar 15, 2023	10-K	Annual Report
Feb 09, 2023	SC 13G	Major Ownership Report
Feb 01, 2023	SC 13G/A	Major Ownership Report
Jan 10, 2023	SC 13G/A	Major Ownership Report
Dec 30, 2022	4	Insider Trading
Dec 30, 2022	3	Insider Trading
Dec 28, 2022	4	Insider Trading
Dec 19, 2022	8-K	Current Report

Latest Insider Trading transactions for VXRT

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2022-12-28	Watson W. Mark	bought	15,140	0.757	20,000	-
2022-12-16	Lee Phillip E	acquired	-	-	206,250	chief financial officer
2022-08-25	HERON ELAINE J	acquired	-	-	14,750	-
2022-08-24	Yedid Robert A.	gifted	-	-	-26,240	-
2022-08-19	Yedid Robert A.	acquired	24,774	0.944146	26,240	-
2022-08-04	Wheadon David E.	acquired	-	-	7,375	-
2022-08-04	Yedid Robert A.	acquired	-	-	7,375	-
2022-08-04	Watson W. Mark	acquired	-	-	14,750	-
2022-08-04	Cherrington Julie M	acquired	-	-	6,217	-
2022-08-04	Davis Todd C	acquired	-	-	7,375	-

About Vaxart

Andrei Floroiu

www.aviragen.com

110

Vaxart, Inc., a clinical-stage biotechnology company, engages in the discovery and development of oral recombinant protein vaccines based on its proprietary oral vaccine platform. The company's product pipeline includes norovirus vaccine, an oral tablet vaccine, which is in a Phase Ib clinical trial with bivalent oral tablet vaccine for the GI.1 and GII.4 norovirus strains; seasonal influenza vaccine, which is in Phase II clinical trial for the treatment of H1 influenza infection; respiratory syncytial virus vaccine; and coronavirus vaccine, which is in Phase II clinical trial for the treatment of SARS-CoV-2 infection. It is also developing therapeutic vaccines for cervical cancer and dysplasia caused by human papillomavirus. The company is headquartered in South San Francisco, California.

VXRT Income Statement

2022-12-31

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer, Including Assessed Tax	$ 107	$ 892
Operating expenses:
Research and development	81,054	48,749
General and administrative	29,386	21,890
Impairment of intangible assets	4,254	3,005
Total operating expenses	114,694	73,644
Operating loss	(114,587)	(72,752)
Other income (expense):
Interest income	1,247	81
Non-cash interest expense related to sale of future royalties	(1,305)	(1,480)
Gain on remeasurement of future royalty liability	6,960	3,789
Foreign exchange loss, net	(6)	(1)
Loss before income taxes	(107,691)	(70,363)
Provision for income taxes	67	107
Net loss	$ (107,758)	$ (70,470)
Net loss per share attributable to common stockholders, basic and diluted (in dollars per share)	$ (0.84)	$ (0.58)
Shares used to compute net loss per share, basic and diluted (in shares)	127,683,813	121,453,723
Comprehensive loss:
Net loss	$ (107,758)	$ (70,470)
Unrealized loss on available-for-sale investments, net of tax	(225)	(74)
Comprehensive loss	(107,983)	(70,544)
Customer Service Contracts [Member]
Revenue from Contract with Customer, Including Assessed Tax	0	13
Non Cash Royalty Revenue [Member]
Revenue from Contract with Customer, Including Assessed Tax	$ 107	$ 879

VXRT Balance Sheet

2022-12-31

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets:
Cash, cash equivalents and restricted cash	$ 46,013	$ 143,745
Short-term investments	49,704	22,742
Accounts receivable	20	71
Prepaid expenses and other current assets	3,714	2,609
Total current assets	99,451	169,167
Long-term investments	0	16,210
Property and equipment, net	15,585	6,601
Right-of-use assets, net	25,715	13,168
Intangible assets, net	5,020	10,624
Goodwill	4,508	4,508
Other long-term assets	3,568	890
Total assets	153,847	221,168
Current liabilities:
Accounts payable	5,514	3,872
Deferred grant revenue	2,000	0
Other accrued current liabilities	8,084	5,064
Current portion of operating lease liability	2,228	1,011
Current portion of liability related to sale of future royalties	95	836
Total current liabilities	17,921	10,783
Operating lease liability, net of current portion	19,477	11,997
Liability related to sale of future royalties, net of current portion	5,621	10,686
Other long-term liabilities	231	171
Total liabilities	43,250	33,637
Commitments and contingencies (Note 9)
Stockholders’ equity:
Preferred Stock: $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding as of December 31, 2022 or 2021	0	0
Common Stock: $0.0001 par value; 250,000,000 and 150,000,000 shares authorized as of December 31, 2022 and 2021, respectively; 134,199,429 and 125,594,393 shares issued and outstanding as of December 31, 2022 and 2021, respectively	13	13
Additional paid-in capital	437,992	406,943
Accumulated deficit	(327,109)	(219,351)
Accumulated other comprehensive loss	(299)	(74)
Total stockholders’ equity	110,597	187,531
Total liabilities and stockholders’ equity	$ 153,847	$ 221,168