Shares of Vaxart Inc. (VXRT) jumped 48% in premarket trading on Wednesday after the company said it had signed a deal with Emergent BioSolutions Inc. (EBS) to help develop and manufacture Vaxart's COVID-19 oral vaccine candidate. Emergent's stock was up 4% before the market opened. "We believe an oral vaccine administered using a room temperature-stable tablet may offer enormous logistical advantages in the roll-out of a large vaccination campaign," Vaxart CEO Wouter Latour said in a news release. The company, which had first announced plans to develop a vaccine on Jan. 31, expects to start a Phase 1 clinical trial in the second half of the year. Emergent is also contracting with Novavax Inc. (NVAX) on its vaccine candidate, and it has said it is developing two products to prevent or treat COVID-19 infections. Year-to-date, Emergent's stock is up 6.8%, while Vaxart is up 450.6%. The S&P 500 is down 21.7%.
-Jaimy Lee; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
March 18, 2020 07:54 ET (11:54 GMT)
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