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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Vaxart
Vaxart (VXRT) investor relations material
Vaxart Q3 2026 & Fireside Chat earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 & Fireside Chat earnings summary6 Nov, 2026
Executive summary
Phase 2b COVID-19 study includes a 400-participant sentinel cohort and ~5,000-participant main cohort; full-study efficacy and safety data are targeted for mid-2027.
Focus remains on completing analytical testing and clinical milestones while seeking funding and partnerships to extend runway.
Financial highlights
Q3 revenue was $10.6M vs. $72.4M in Q3 2025, down 85% as government-contract activity declined; revenue included $7.5M in government-contract and $2.9M in collaboration revenue.
Q3 R&D expense was $22.8M vs. $75.9M; G&A was $5.1M vs. $4.3M.
Q3 net loss was $17.7M, or $0.07/share, vs. $8.1M, or $0.04/share; operating loss was $17.3M vs. $7.8M.
Nine-month revenue was $77.0M vs. $133.0M; net loss was $26.0M vs. $38.7M.
Cash, cash equivalents and short-term investments totaled $65.5M at September 30, 2026.
Outlook and guidance
Full-study COVID-19 topline efficacy and safety results are expected by mid-2027, following participant follow-up, analytical testing, external lab processing and BARDA review.
Management aims to submit the Phase 2b package to the FDA after the readout; Dynavax may elect to assume further development for a $50M payment.
Cash resources are expected to fund operations into Q2 2027; additional capital may be needed, with further expense reductions or deferrals among planned responses if financing is unavailable on acceptable terms.
Norovirus development could advance to the next clinical stage in 2027, subject to partnership or other funding; additional indications depend on appropriate financial or strategic support.
Detailed sentinel-data timing remains uncertain; external lab completion and BARDA review and approval govern potential disclosure.
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Latest events from Vaxart
- Oral vaccine platform shows strong safety, broad pipeline, and major 2027 milestones ahead.VXRT
H.C. Wainwright 28th Annual Global Investment Conference - Director elections and auditor ratification passed; say on pay failed; cash runway through Q2 2027.VXRTAGM 2026
- Oral pill vaccine platform shows broad efficacy, strong safety, and major upcoming milestones.VXRTCorporate presentation
- Positive safety data, $27.2M revenue, $13.5M net loss, and cash runway into Q2 2027.VXRTQ2 2026
- Contested director nominations resolved; Board to add new independent director and enhance governance.VXRTProxy filing
- Oral pill vaccine platform advances late-stage norovirus and COVID-19 trials with BARDA support.VXRTH.C. Wainwright 27th Annual Global Investment Conference
- BARDA contract boosts COVID-19 oral vaccine program, Q2 revenue up, but Nasdaq risk remains.VXRTQ2 2024
- COVID-19 trial paused, norovirus phase I underway, revenue up, cash runway into Q4 2025.VXRTQ4 2024
- Q1 revenue surged 857% to $20.9M as clinical trials advanced and net loss narrowed.VXRTQ1 2025
Next Vaxart earnings date
Q4 202611 Mar, 2027
Vaxart
Next Vaxart earnings date
Q4 202611 Mar, 2027
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Frequently asked questions
Vaxart Inc. is a biotechnology company focused on developing oral vaccines that are administered using tablet formulations rather than injections. The company's proprietary oral vaccine platform is designed to stimulate immune responses in mucosal tissues, which are the first line of defense against many infections. Vaxart's vaccine candidates target a range of infectious diseases, including influenza, norovirus, and COVID-19. The company is headquartered in South San Francisco, California, and its shares are listed on the NASDAQ.