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About Vaxart
From its filings with the US Securities and Exchange Commission
Vaxart is based in South San Francisco, California and is incorporated in Delaware. Its shares trade on OTC under the ticker VXRT. The SEC classifies its business as biological products, (no diagnostic substances). In the fiscal year to 31 December 2025, it reported revenue of $237.3m and net income of $16.3m. At that date it held total assets of $186.1m and shareholders' equity of $87.8m.
Vaxart Biosciences, Inc. was originally incorporated in California under the name West Coast Biologicals, Inc. in March 2004 and changed its name to Vaxart, Inc. (“Private Vaxart”) in July 2007, when it reincorporated in the state of Delaware.
On February 13, 2018, Private Vaxart completed a reverse merger (the “Merger”) with Aviragen Therapeutics, Inc. (“Aviragen”), pursuant to which Private Vaxart survived as a wholly owned subsidiary of Aviragen. Under the terms of the Merger, Aviragen changed its name to Vaxart, Inc. and Private Vaxart changed its name to Vaxart Biosciences, Inc. Unless otherwise indicated, all references to “Vaxart,” “we,” “us,” “our” or the “Company” in this Annual Report mean Vaxart, Inc., the combined company.
We are a clinical-stage biotechnology company primarily focused on the development of oral recombinant vaccines based on our Vector-Adjuvant-Antigen Standardized Technology (“VAAST”) proprietary oral vaccine platform.
We are developing prophylactic vaccine candidates that target a range of infectious diseases, including norovirus (a widespread cause of acute gastroenteritis), coronavirus, including SARS-CoV-2 (the virus that causes coronavirus disease 2019 (“COVID-19”)), and influenza. In addition, we have generated preclinical data for our first therapeutic vaccine candidate targeting cervical cancer and dysplasia caused by human papillomavirus (“HPV”).
Quoted from its 10-K, filed 13 Mar 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Health Care
- Industry
- Biotechnology
- Listed since
- 17 Mar 1980
- Employees
- 65
- Website
- vaxart.com ↗
- Head office
- 310 UTAH AVENUE, SUITE 150, SOUTH SAN FRANCISCO, CA
- Incorporated in
- DE
- Classification
- Biological Products, (No Diagnostic Substances)
- Filer status
- Accelerated filer<br>Smaller reporting company
Leadership
Pay as last reported
- Dr. Michael FinneyChairman of the Board, since 2018$305,390
- Mr. Steven LoPresident, Chief Executive Officer, Director, since 2024$2.1m
- Mr. Jeroen GrasmanChief Financial Officer, Principal Accounting Officer and Principal Financial Officer
- Dr. Sean TuckerSenior Vice President, Chief Scientific Officer$1.2m
- Mr. Edward BergSenior Vice President, General Counsel
- Ms. Laurie HastingsSenior Vice President of Human Resources
- Dr. James CummingsChief Medical Officer$1.2m
- Mr. W. Mark WatsonLead Independent Director$142,881
- Mr. Kevin FinneyIndependent Director
- Dr. Elaine HeronIndependent Director$143,779
- Dr. David WheadonIndependent Director$146,976
- Mr. Matt SteinIR Contact Officer, since 2025
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 33
- Environment
- 33
- Social
- 55
- Governance
- 12
- Carbon reduction policy
- No
- Human rights policy
- Yes
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Vaxart Inc is built upon an innovative vaccine platform that uses oral tablets for vaccine administration. This approach offers several advantages, including ease of use, elimination of the need for needles, and increased patient compliance. By utilizing this unique technology, the company has the potential to revolutionize the way vaccines are administered.
- Vaxart Inc has a diverse pipeline of vaccine candidates targeting various infectious diseases. This broad development portfolio mitigates the risk associated with focusing on a single product. With ongoing research and development efforts, the company can capitalize on a wide range of market opportunities and potentially address unmet medical needs.
Weaknesses
- Vaxart Inc is a relatively young company and may lack the extensive commercialization experience of more established vaccine manufacturers. This could pose challenges in effectively bringing their products to market, establishing partnerships, and navigating regulatory processes. Developing strong marketing and distribution strategies will be crucial for the company's success.
- Vaxart Inc relies on external manufacturers for the production of its vaccine candidates. This reliance on third-party facilities introduces a level of dependency and potential supply chain risks. Ensuring consistent and high-quality manufacturing processes will be essential for meeting market demand and maintaining product efficacy and safety.
Opportunities
- The global vaccines market is experiencing significant growth due to increasing awareness about preventive healthcare, expanding immunization programs, and rising disease prevalence. Vaxart Inc can leverage this favorable market trend by successfully developing and commercializing its vaccine candidates, potentially capturing a significant market share and achieving financial success.
- Establishing strategic partnerships with pharmaceutical companies, government agencies, and research institutions can provide Vaxart Inc with access to additional resources, expertise, and funding. Collaborations can accelerate the company's product development, enhance its market reach, and increase its competitive advantage. Building strong relationships with key stakeholders becomes crucial for long-term success.
Threats
- The vaccine market is highly competitive, with numerous established players and emerging biopharmaceutical companies. Vaxart Inc may face intense competition in terms of vaccine efficacy, safety, pricing, and market access. Staying ahead of competitors requires continuous innovation, effective marketing strategies, and a strong focus on addressing customer needs and demands.
- Developing and commercializing vaccines involve stringent regulatory requirements and safety evaluations. Vaxart Inc must navigate complex regulatory pathways, ensuring compliance with regulations and demonstrating the efficacy and safety of its products. Any adverse events or safety concerns can significantly impact the reputation and market acceptance of the company's vaccine candidates.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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