Quarterly ResultMay 7, 2026, 04:25 PM
Vaxart Q1 2026 Net Income $5.2M; Revenue $39.2M
AI Summary
Vaxart, Inc. announced its first quarter 2026 financial results, reporting a net income of $5.2 million, a significant improvement from a net loss of $15.6 million in the prior year. Revenue increased to $39.2 million, primarily driven by government contracts and a Dynavax collaboration. The company anticipates topline data from the 400-person sentinel cohort of its Phase 2b COVID-19 trial in Q2 2026 and has a cash runway into the second quarter of 2027. Additionally, Vaxart secured a flexible capital facility for up to $25 million and appointed a new director to its Board.
Key Highlights
- Vaxart reported net income of $5.2 million for Q1 2026, compared to a net loss of ($15.6) million in Q1 2025.
- Revenue for Q1 2026 was $39.2 million, up from $20.9 million in Q1 2025.
- Cash, cash equivalents, and investments totaled $61.0 million as of March 31, 2026, providing a runway into Q2 2027.
- Cumulative cash payments of $218.9 million received from the BARDA contract as of March 31, 2026.
- Entered a share purchase agreement with Lincoln Park Capital for up to $25 million of common stock over 24 months.
- Research and development expenses decreased to $29.4 million in Q1 2026 from $30.7 million in Q1 2025.
- General and administrative expenses decreased to $4.6 million in Q1 2026 from $5.1 million in Q1 2025.
- Net income per share was $0.02 for Q1 2026, compared to a net loss per share of ($0.07) for Q1 2025.