Despite omicron variant chatter propping up even relatively obscure biotech companies, Vaxart (NASDAQ:VXRT) can’t seem to get in on the conversation. VXRT stock is down 9% today as it appears to be leveling off from its recent highs. The drop could be due to a certain fast-talking CNBC figurehead.
Mad Money main-man Jim Cramer had a few unglamorous words to say about Vaxart today:
“You can speculate on it … but it has not been a winner, and I don’t think that’s going to change.”
Vaxart is perhaps best known for its in-development oral Covid-19 vaccine, which some bulls believe is sorely missing from the current offering. Today’s news also comes as Vaxart announced the acquisition of a new manufacturing facility, stated to assist with its Phase 2 vaccine study.
With so much up in the air, how does the future look for Vaxart?
VXRT Stock Tumbles as Vaxart Struggles to Get in the Game
Vaxart hasn’t seen the sustained rise the major winners of Covid-19 have experienced. Unlike Moderna (NASDAQ:MRNA) or Pfizer (NYSE:PFE), which continue to break through previous all-time highs, Vaxart has stumbled in its approval process.
Phase 2 trials can last anywhere from several months to two years, but either way, compared to the major players in the vaccine race, Vaxart is objectively behind the curve. Johnson & Johnson (NYSE:JNJ) announced Phase 3 trial results of its Covid-19 vaccine in January of this year.
Now, Vaxart does have an advantage over other vaccines, as it is one of the only oral tablets in production. But how far can that potential take it?
VXRT jumped nearly 12% this summer after receiving U.S. Food and Drug Administration approval for its investigational new drug application. Since then however, the markets have largely slept on the biotech company as other vaccines gain traction — and approval.
Cramer’s comments likely did little to put investors’ minds at ease. The clock appears to be ticking for Vaxart as biotech bulls eagerly await advancement in the regulatory process.
On the date of publication, Shrey Dua did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
