Why Vaxart Stock Jumped Today
Shares of Vaxart (NASDAQ: VXRT) rose sharply on Tuesday, furthering the gains accrued since the biotech company filed an Investigational New Drug (IND) application for its oral coronavirus vaccine on Aug. 10. By the close of trading, Vaxart's stock was up 14.4% after surging as much as 32.7% earlier in the day.
Vaxart filed its IND application with the U.S. Food and Drug Administration (FDA) on Monday morning. It's essentially a request to begin testing its experimental vaccine on people in a clinical trial. "Filing the IND is the first major step of many we are taking to advance our oral vaccine in the prevention of COVID-19," Vaxart Chief Scientific Officer Sean Tucker said in a press release.
Vaxart's stock rallied on Tuesday. Image source: Getty Images.
Source Fool.com
