Vaxart (NASDAQ:VXRT) stock is down in intraday trading following the regarding its vaccine candidate. Despite being “well-tolerated” and triggering “multiple immune responses,” the company said “neutralizing antibodies were not detected” in recipients of the oral tablet vaccine.
That’s bad news to receive in Phase I of clinical trials, especially when you consider that vaccine candidates by both Moderna (NASDAQ:MRNA) and the joint team of Pfizer (NYSE:PFE) and BioNTech (NASDAQ:
BNTX) have . Plus Johnson & Johnson (NYSE:JNJ) has its and looks liable to receive federal authorization as well.
The news hit especially hard because Vaxart had become an object of interest for a potential short squeeze following the chaos of speculative trading last week fueled by subreddit r/WallStreetBets. Bullish trading on Tuesday saw VXRT close at $23.33 before declining in afterhours trading to open at $10.84 today.
On the date of publication, Vivian Medithi did not have (either directly or indirectly) any positions in the securities mentioned in this article.
