07:28 AM EDT, 06/14/2024 (MT Newswires) -- Vaxart ( VXRT ) said late Thursday it launched an underwritten public offering of 50 million of its common shares for expected gross proceeds of $40 million, before deducting underwriting discounts and commissions.

The offering is expected to close Monday, the company said.

The company's shares rose more than 14% in recent Friday premarket activity.

Price: 0.8698, Change: +0.12, Percent Change: +15.99