Vaxart reverse merges its way onto Nasdaq, climbing aboard the Aviragen shell
Vaxart says it’s about to unveil positive results from an early-stage study of a new vaccine, and it’s celebrating with a reverse merger onto Nasdaq that will help pay for what’s ahead.
Vaxart’s chosen shell vehicle for this deal — which comes at a time a long lineup of biotechs have been filing IPOs — is Aviragen Therapeutics, which saw its stock pummeled by back-to-back trial failures early this year. Aviragen’s stock was left in penny stock territory, and the traditional strategic review in the face of a crisis blazed a path to the reverse merger.
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