San Francisco, California--(Newsfile Corp. - July 31, 2020) - Hagens Berman urges Vaxart, Inc. (NASDAQ: VXRT) investors who have suffered significant losses to submit their losses now. Hagens Berman also encourages persons who may be able to assist the Firm's investigation of possible securities fraud to contact the firm.
Vaxart, Inc. (VXRT) Investigation:
The investigation centers on whether Vaxart misrepresented its inclusion in Operation Warp Speed ("OWS"), a highly selective government program aimed at delivering 300 million doses of a safe, effective vaccine for COVID-19 by January 2021, as part of a broader strategy to accelerate the development, manufacturing, and distribution of COVID-19 vaccines, therapeutics, and diagnostics (collectively known as countermeasures).
On June 26, 2020, Vaxart issued a press release entitled, "Vaxart's COVID-19 Selected for the U.S. Government's Operation Warp Speed," claiming its vaccine had been selected to participate in a non-human challenge study, organized and funded by OWS. This announcement sent the price of Vaxart shares rocketing higher.
Coincident with this announcement, director Steven Boyd, on behalf of Armistice Capital, sold massive amounts of Vaxart shares.
Then, on July 25, 2020, The New York Times published an article clarifying "Vaxart is not among the companies selected to receive significant financial support from Warp Speed." In response to this news, the price of Vaxart shares dropped sharply lower on July 27, 2020.
"We're focused on investors' losses and whether Vaxart misled investors about OWS's potential funding support for the company," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you purchased shares of Vaxart and suffered significant losses, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Vaxart should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email VXRT@hbsslaw.com.
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