An investigation on behalf of investors of Vaxart, Inc. (NASDAQ: VXRT) shares over potential securities laws violations by Vaxart, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Vaxart, Inc. (NASDAQ: VXRT) concerning whether a series of statements by Vaxart, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

San Francisco, CA based Vaxart, Inc., a clinical-stage company, engages in the discovery and development of oral recombinant protein vaccines based on its proprietary oral vaccine platform. Vaxart, Inc. reported that its annual Total Revenue rose from $4.15 million in 2018 to $9.86 million in 2019, and that its Net Loss increased from $18 million in 2018 to $18.64 million in 2019.

Shares of Vaxart, Inc. (NASDAQ: VXRT) rose from $0.36 per share in January 2020 to as high as $17.15 per share on July 16, 2020.

On July 25, 2020, an article was published titled: 'Corporate Insiders Pocket $1 Billion in Rush for Coronavirus Vaccine.' That article described how Vaxart's '[c]ompany insiders, who weeks earlier had received stock options worth a few million dollars, saw the value of those awards increase sixfold' when the Company announced that its COVID-19 vaccine had been selected by the U.S. government to be part of Operation Warp Speed, the flagship federal initiative to quickly develop drugs to combat COVID-19.

Since then shares of Vaxart, Inc. (NASDAQ: VXRT) declined to $12.00 per share on July 24, 2020.