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Vaxart Rises 3% After Signing License Agreement With Altesa Biosciences

Shares of Vaxart, Inc. (VXRT) are climbing more than 3% Wednesday morning after the clinical-stage biotechnology company signed a license agreement with Altesa Biosciences, Inc. for Vaxart's investigational antiviral drug Vapendavir.

As per the agreement, Altesa gets global rights to develop and commercialize Vapendavir.

Vaxart will receive up to $130 million in milestone payments, and royalties ranging from low-single to low-double digits on global product sales of Vapendavir.

Vapendavir has showed activity against a range of infections including epidemic hand, foot and mouth disease, HRV infection in chronic obstructive pulmonary disease, among others.

VXRT is at $7.61 currently. It has traded in the range of $3.50- $24.90 in the past 52 weeks.

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