Vaxart, Inc.is a clinical-stage company that engages in the discovery and development of oral recombinant protein vaccines based on its proprietary oral vaccine platform. Post the virus outbreak, the company has initiated a coronavirus vaccine program using its proprietary oral-delivery platform.
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Akunis said his government has 'fast-tracked' all the approval processes for the vaccine to get it out as soon as possible.
MIGAL would be responsible for developing the new vaccine, but it would then have to go through a regulatory process, including clinical trials and large-scale production, Katz said.
Akunis said he has instructed his ministry’s director-general to fast-track all approval processes with the goal of bringing the human vaccine to market as quickly as possible.
"Given the urgent global need for a human coronavirus vaccine, we are doing everything we can to accelerate development," MIGAL CEO David Zigdon said. The vaccine could "achieve safety approval in 90 days," he said.
It will be an oral vaccine, making it particularly accessible to the general public, Zigdon said.
"We are currently in intensive discussions with potential partners that can help accelerate the in-human trials phase and expedite completion of final-product development and regulatory activities," he said.
The warrants will have an exercise price of $2.50 per share and exercise period commencing immediately upon issuance and a term of five years.
The offering is expected to close on or about March 2, 2020, subject to the satisfaction of customary closing conditions.
The Company intends to use the net proceeds from this offering to support the clinical and preclinical development of its product candidates, to conduct clinical trials, and for general corporate and working capital purposes.
The securities described above are being offered and sold by the Company pursuant to a “shelf” registration statement on Form S-3 (Registration No. 333-228910), including a base prospectus, previously filed with and declared effective by the Securities and Exchange Commission (the “SEC”) on March 15, 2019. The offering of the securities is being made only by means of a prospectus supplement that forms a part of the registration statement.
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