Vaxart (VXRT) AI Stock Analysis

• Market Cap: $81.29M
• Dividend Yield: N/A
• Average Volume (3M): 1.97M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.92
• Revenue Growth: 288.94%
• EPS Growth: 39.45%
• Country: US
• Employees: 105
• Sector: Healthcare
• Sector Strength: 69
• Industry: Biotechnology
• EPS (TTM): -0.35
• Shares Outstanding: 228,208,280
• 10 Day Avg. Volume: 2,467,709
• 30 Day Avg. Volume: 1,968,589
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 7.00
• Price to Cash Flow (P/CF): -7.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $3.00
• Price Target Upside: 733.33% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

Vaxart's key strengths lie in its strong revenue growth and progress in vaccine development. However, significant challenges remain, including negative profitability, cash flow issues, and uncertainty in the COVID-19 program. These factors, combined with bearish technical indicators and a challenging valuation, result in a below-average stock score.

Positive Factors

Cash Flow

VXRT has a cash runway into 2026E, with recent financing and BARDA funding to support several clinical and regulatory milestones.

Regulatory Milestones

VXRT's norovirus oral vaccine unique competitive position to further benefit from upcoming regulatory milestones.

Trial Progress

The Phase II COVID-19 vaccine trial is progressing rapidly, with the sentinel cohort enrollment ahead of schedule, indicating strong advancement in the study.

Vaccine Development

Vaxart advances with $453M BARDA-backed COVID-19 vaccine, poised to lead in mucosal immunity.

Negative Factors

Investor Perception

Investor perception of the norovirus opportunity has considerable room for improvement given the significant disease burden and the lack of approved or late-stage programs.

Market Competition

Norovirus is an attractive market with VXRT now leading the way, as there's currently no approved norovirus vaccine, making the opportunity highly attractive.

Vaxart Business Overview & Revenue Model

Company Description

Vaxart, Inc. is a biotechnology company focused on developing oral recombinant vaccines based on its proprietary delivery platform. The company's oral vaccine technology is designed to be administered by tablet rather than by injection, making it potentially more convenient and accessible. Vaxart is engaged in the research and development of vaccines for a variety of infectious diseases, including influenza, norovirus, and coronaviruses.

How the Company Makes Money

Vaxart generates revenue primarily through partnerships, collaborations, and licensing agreements with other pharmaceutical and biotechnology companies. These partnerships typically involve upfront payments, milestone payments, and potential royalties on sales of products developed using Vaxart's technology. The company is also engaged in research and development activities that are sometimes funded by government grants or contracts, which provide additional revenue streams. As of now, Vaxart does not have a commercialized product on the market, so its revenue is largely dependent on these partnerships and funding sources.

Vaxart Financial Statement Overview

Summary

Vaxart has demonstrated strong revenue growth, but it continues to struggle with profitability and cash flow management. The balance sheet shows moderate leverage, providing some financial stability, but the negative cash flows highlight ongoing operational challenges.

Income Statement

Vaxart has shown a significant increase in total revenue in the latest year, from $7.38 million to $28.7 million, reflecting a strong growth trajectory. However, the company continues to face challenges with profitability as indicated by negative net income and EBIT, resulting in negative net profit and EBIT margins. The lack of positive EBITDA also highlights ongoing operational inefficiencies.

Balance Sheet

The balance sheet shows a relatively stable equity position with a stockholders' equity of $58.9 million. However, the company has a high debt-to-equity ratio at 0.30, suggesting that the company is moderately leveraged. The equity ratio is approximately 35.4%, indicating that a significant portion of assets is financed by equity, which provides some financial stability.

Cash Flow

The cash flow statement reveals challenges with negative free cash flow and operating cash flow, which are concerning trends. Despite a significant cash infusion from financing activities, the free cash flow to net income ratio and operating cash flow to net income ratio are negative, reflecting ongoing cash management issues.

Breakdown
Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
28.70M	7.38M	107.00K	892.00K	4.05M
	Gross Profit
28.70M	-60.76M	-3.16M	-47.86M	-15.82M
	EBIT
-66.29M	-83.35M	-114.59M	-72.75M	-30.17M
	EBITDA
-54.87M	-72.13M	-103.12M	-66.45M	-28.26M
	Net Income Common Stockholders
-66.95M	-82.47M	-107.76M	-70.47M	-32.22M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
51.72M	39.71M	93.72M	166.49M	126.87M
	Total Assets
166.39M	91.83M	153.85M	221.17M	152.58M
	Total Debt
17.53M	26.51M	21.70M	13.01M	7.21M
	Net Debt
-7.70M	-8.24M	-22.31M	-130.74M	-119.66M
	Total Liabilities
107.46M	34.02M	43.25M	33.64M	29.18M
	Stockholders Equity
58.92M	57.80M	110.60M	187.53M	123.40M
Cash Flow		Free Cash Flow
-45.32M	-72.32M	-104.38M	-64.99M	-24.97M
	Operating Cash Flow
-44.76M	-70.45M	-94.78M	-59.83M	-23.75M
	Investing Cash Flow
-21.32M	43.95M	-20.41M	-49.10M	-1.22M
	Financing Cash Flow
56.56M	15.24M	17.46M	125.80M	138.31M

Vaxart Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.36
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VXRT, the sentiment is Negative. The current price of 0.36 is below the 20-day moving average (MA) of 0.43, below the 50-day MA of 0.54, and below the 200-day MA of 0.68, indicating a bearish trend. The MACD of -0.05 indicates Positive momentum. The RSI at 26.90 is Positive, neither overbought nor oversold. The STOCH value of 3.92 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for VXRT.

Vaxart Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
BNTX	54 Neutral	$22.35B	―	-3.38%	―	-27.64%	-172.62%
VXRT	49 Neutral	$81.29M	―	-114.71%	―	288.94%	39.45%
MRNA	48 Neutral	$10.11B	―	-28.77%	―	-52.75%	25.00%
Sector *	48 Neutral	$6.35B	1.19	-46.26%	2.67%	19.24%	1.75%
OCGN	40 Underperform	$201.61M	―	-154.01%	―	187.79%	32.40%
NVAX	34 Underperform	$942.55M	―	30.06%	―	-30.65%	77.62%
INO	34 Underperform	$59.04M	―	-115.42%	―	-73.83%	34.81%

Vaxart Corporate Events

Vaxart Announces Board Changes with New Appointment

On January 28, 2025, Vaxart announced the appointment of Kevin Finney to its Board of Directors, effective immediately. Finney, with 35 years of executive experience in the healthcare sector, including significant roles at Autobahn Therapeutics and Allergan, is expected to enhance Vaxart’s strategic direction as it advances its oral vaccine platform. Concurrently, Robert A. Yedid resigned from the Board for personal reasons, marking a leadership transition that could influence Vaxart’s future operations.