Penny Stocks On Robinhood #4: Vaxart Inc.
Finally, shares of Vaxart Inc. (VXRT Stock Report) gapped up on Tuesday. Following its close on Monday at $2.37, VXRT stock jumped to an open of $2.90 on Tuesday. The company has gotten folded into the growing list of coronavirus penny stocks to watch right now. As far as Robinhood is concerned, over 20,000 accounts show as having shares of the penny stock.
Why did VXRT stock jump on Tuesday? Prior to the opening bell, Vaxart announced positive pre-clinical data for its COVID-19 vaccine program. The program was initiated in Janjuary and based on its VAAST oral vaccines platform. Through an agreement with Emergent BioSolutions in March, the companies will prepare for cGMP production of an oral COVID-19 vaccine.
These results are extremely encouraging, and we should be in a position to select a lead development candidate for cGMP manufacturing and clinical testing in the coming weeks,” said Wouter Latour, MD, chief executive officer of Vaxart Inc. Shares have climbed to highs of $3.45 and currently sit around $2.85 during the mid-morning session.
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