Vaxart Inks Antiviral Asset Licensing Pact With Altesa Biosciences

Vaxart Inc VXRT has granted Altesa Biosciences Inc an exclusive worldwide license to develop and commercialize Vaxart's patented formulation of the capsid-binding Vapendavir, a clinical-stage broad-spectrum antiviral.
Under the terms of the agreement, Vaxart is eligible to receive up to $130 million in milestone payments and tiered royalties ranging from the low-single to low-double digits on product sales for multiple indications.
Vaxart acquired Vapendavir in 2018 as part of the merger with Aviragen Therapeutics Inc.
Price Action: VXRT shares are down 1.36% at $7.26 during the market session on the last check Wednesday.