Vaxart announces $10M equity offering, key person steps down

Vaxart ( NASDAQ: VXRT ) President, CEO, and Director of the Board, Andrei Floroiu announced resignation from his positions. Michael J. Finney, Ph.D., the Chair of the Board of Directors, has assumed the role of interim CEO to lead the management team through this transition. Vaxart ( VXRT ) is conducting a CEO search for Mr.

Floroiu’s successor. Dr. Finney has served as a member of the Board of Directors since February 2018 and Chair of the Board of Directors since March 2023. Seperately, the company also entered into a common stock purchase agreement with RA Capital Management for the sale of 15.38M shares in a registered direct offering at an offering price of $0.65 per share.

Gross proceeds are ~$10M , which the company intends to use for general corporate purposes, including working capital, operating expenses and capital expenditures. More on Vaxart Vaxart Q3 2023 Earnings Preview Seeking Alpha’s Quant Rating on Vaxart Historical earnings data for Vaxart Financial information for Vaxart.