07:39 AM EDT, 06/14/2024 (MT Newswires) -- Vaxart ( VXRT ) said Friday it received a project award of about $453 million to conduct a phase 2b clinical trial evaluating its Covid-19 oral pill vaccine candidate against an approved mRNA vaccine comparator.

Vaxart ( VXRT ) said the funds were awarded through the Rapid Response Partnership Vehicle financed by the Biomedical Advanced Research and Development Authority under the US Department of Health and Human Services.

About $65.7 million of the award will be provided immediately, while the remaining $387.2 million will be given once the study is approved to proceed and throughout the trial, Vaxart ( VXRT ) said.

The company said it expects to begin enrollment in summer 2024 and provide an interim analysis by Q1 2025.

Shares of the company were up about 15% in recent Friday premarket activity.

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