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Vaxart to raise $3M in common stock offering

Vaxart Inc. is offering 1.2 million common shares priced at $2.50 apiece in a registered direct offering.

The transaction, which is being participated by certain institutional investors, is expected to generate $3 million in gross proceeds.

The closing of the offering will occur March 20.

H.C. Wainwright & Co. is acting as exclusive placement agent for the offering.

South San Francisco, Calif.-based Vaxart is focused on developing oral vaccines using its proprietary oral vaccine platform.