$VXRT
Vaxart, Inc.

2023 Q4 Form 10-Q Financial Statement

#000143774923030009 Filed on November 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $3.245M $2.101M
YoY Change 14650.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.440M $4.920M
YoY Change -15.62% -29.31%
% of Gross Profit
Research & Development $14.71M $15.00M
YoY Change -28.12% -33.22%
% of Gross Profit
Depreciation & Amortization $2.334M $1.000M
YoY Change 23.49% 104.5%
% of Gross Profit
Operating Expenses $20.15M $19.92M
YoY Change -25.13% -32.29%
Operating Profit -$17.82M
YoY Change -39.43%
Interest Expense -$301.0K $723.0K
YoY Change -150.76% 57.86%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$17.20M -$17.36M
YoY Change -28.04% -40.73%
Income Tax $174.0K $39.00K
% Of Pretax Income
Net Earnings -$17.38M -$17.40M
YoY Change -27.36% -40.63%
Net Earnings / Revenue -535.44% -828.18%
Basic Earnings Per Share -$0.11
Diluted Earnings Per Share -$0.12 -$0.11
COMMON SHARES
Basic Shares Outstanding 152.0M 152.0M
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $39.71M $53.00M
YoY Change -58.51% -53.82%
Cash & Equivalents $31.40M $33.20M
Short-Term Investments $4.958M $19.80M
Other Short-Term Assets $2.815M $3.600M
YoY Change -24.21% -35.86%
Inventory
Prepaid Expenses
Receivables $3.008M $424.0K
Other Receivables $0.00
Total Short-Term Assets $45.54M $57.10M
YoY Change -54.21% -52.57%
LONG-TERM ASSETS
Property, Plant & Equipment $36.57M $12.93M
YoY Change 134.66% 5.26%
Goodwill $4.508M $4.500M
YoY Change 0.18% -0.18%
Intangibles $4.289M $4.472M
YoY Change -14.56% -53.47%
Long-Term Investments
YoY Change
Other Assets $926.0K $883.0K
YoY Change -74.05% -54.08%
Total Long-Term Assets $46.29M $48.54M
YoY Change -14.89% -11.63%
TOTAL ASSETS
Total Short-Term Assets $45.54M $57.10M
Total Long-Term Assets $46.29M $48.54M
Total Assets $91.83M $105.6M
YoY Change -40.31% -39.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.584M $1.339M
YoY Change -71.27% -83.08%
Accrued Expenses $7.802M $5.991M
YoY Change -3.49% -42.08%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $3.803M $1.300M
YoY Change 3703.0% 0.0%
Total Short-Term Liabilities $13.72M $11.27M
YoY Change -23.42% -48.17%
LONG-TERM LIABILITIES
Long-Term Debt $2.623M $4.600M
YoY Change
Other Long-Term Liabilities $17.68M $278.0K
YoY Change 7552.81% 28.7%
Total Long-Term Liabilities $20.30M $278.0K
YoY Change 8688.31% 28.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.72M $11.27M
Total Long-Term Liabilities $20.30M $278.0K
Total Liabilities $34.03M $34.12M
YoY Change -21.33% -35.62%
SHAREHOLDERS EQUITY
Retained Earnings -$409.6M -$392.2M
YoY Change 25.21% 29.36%
Common Stock $467.7M $463.8M
YoY Change 6.79% 8.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $57.81M $71.52M
YoY Change
Total Liabilities & Shareholders Equity $91.83M $105.6M
YoY Change -40.31% -39.74%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$17.38M -$17.40M
YoY Change -27.36% -40.63%
Depreciation, Depletion And Amortization $2.334M $1.000M
YoY Change 23.49% 104.5%
Cash From Operating Activities -$13.52M -$15.00M
YoY Change -53.61% 2.63%
INVESTING ACTIVITIES
Capital Expenditures -$109.0K $290.0K
YoY Change -90.41% -104.1%
Acquisitions
YoY Change
Other Investing Activities $15.00M $5.250M
YoY Change 2.31% -121.87%
Cash From Investing Activities $15.10M $4.970M
YoY Change -4.42% -115.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -67.00K -10.00K
YoY Change -100.78% -100.2%
NET CHANGE
Cash From Operating Activities -13.52M -15.00M
Cash From Investing Activities 15.10M 4.970M
Cash From Financing Activities -67.00K -10.00K
Net Change In Cash 1.512M -10.04M
YoY Change -131.8% -75.33%
FREE CASH FLOW
Cash From Operating Activities -$13.52M -$15.00M
Capital Expenditures -$109.0K $290.0K
Free Cash Flow -$13.41M -$15.29M
YoY Change -52.12% 102.54%

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OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-444000 usd
us-gaap Net Income Loss
NetIncomeLoss
-83840000 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
122307000 usd
us-gaap Net Income Loss
NetIncomeLoss
-65090000 usd
us-gaap Net Income Loss
NetIncomeLoss
-83840000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
6293000 usd
us-gaap Depreciation And Amortization
DepreciationAndAmortization
3915000 usd
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-55000 usd
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-0 usd
us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
510000 usd
us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
13000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
10417000 usd
us-gaap Share Based Compensation
ShareBasedCompensation
10194000 usd
vxrt Noncash Interest Expense On Liability
NoncashInterestExpenseOnLiability
573000 usd
vxrt Noncash Interest Expense On Liability
NoncashInterestExpenseOnLiability
988000 usd
vxrt Noncash Revenue Related To Sale Of Future Royalties
NoncashRevenueRelatedToSaleOfFutureRoyalties
314000 usd
vxrt Noncash Revenue Related To Sale Of Future Royalties
NoncashRevenueRelatedToSaleOfFutureRoyalties
152000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
404000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-71000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-2760000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
4037000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2699000 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
2528000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-1921000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
0 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-6092000 usd
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
4719000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-56932000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-65627000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1975000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5700000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
120000 usd
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 usd
vxrt Payments For Rightofuse Assets
PaymentsForRightofuseAssets
-0 usd
vxrt Payments For Rightofuse Assets
PaymentsForRightofuseAssets
5038000 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
27497000 usd
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
48178000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
58200000 usd
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
22700000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
28848000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-36216000 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
2000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
39000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
-0 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
17000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
214000 usd
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
298000 usd
us-gaap Proceeds From Stock Plans
ProceedsFromStockPlans
0 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
15309000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
8866000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-12775000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-92977000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
46013000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
143745000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33238000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
50768000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
296000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
9997000 usd
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
14000 usd
us-gaap Noncash Or Part Noncash Acquisition Value Of Assets Acquired1
NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1
1738000 usd
CY2023Q3 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
53000000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;"><b>Use of Estimates</b> – The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities in the financial statements and accompanying notes. Actual results and outcomes could differ from these estimates and assumptions.</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;"><b></b></p><p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt; text-align: center;"><b></b></p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;"></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;"><b>Concentration of Credit Risk</b> – Financial instruments that potentially subject the Company to significant concentrations of credit risk consist principally of cash, cash equivalents, restricted cash and available-for-sale investments. The Company places its cash, cash equivalents, restricted cash and available-for-sale investments at financial institutions that management believes are of high credit quality. The Company is exposed to credit risk in the event of default by the financial institutions holding the cash, cash equivalents and restricted cash to the extent such amounts are in excess of the federally insured limits. Losses incurred or a lack of access to such funds could have a significant adverse impact on the Company’s financial condition, results of operations, and cash flows.</p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt;"> </p> <p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">The primary focus of the Company’s investment strategy is to preserve capital and meet liquidity requirements. The Company’s investment policy addresses the level of credit exposure by limiting the concentration in any <em style="font: inherit;">one</em> corporate issuer or sector and establishing a minimum allowable credit rating.</p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt;"></p>
CY2023Q3 us-gaap Investments And Cash
InvestmentsAndCash
53048000 usd
CY2023Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
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CY2023Q3 vxrt Investments And Cash Fair Value Disclosure
InvestmentsAndCashFairValueDisclosure
53037000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33238000 usd
CY2023Q3 us-gaap Short Term Investments
ShortTermInvestments
19799000 usd
CY2022Q4 us-gaap Investments And Cash
InvestmentsAndCash
96016000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
299000 usd
CY2022Q4 vxrt Investments And Cash Fair Value Disclosure
InvestmentsAndCashFairValueDisclosure
95717000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
46013000 usd
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
49704000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
33200000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
46000000 usd
CY2023Q3 us-gaap Restricted Cash
RestrictedCash
79000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
2000000 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
18868000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
18857000 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5942000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3272000 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
12926000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15585000 usd
CY2023Q3 us-gaap Depreciation
Depreciation
1000000 usd
CY2022Q3 us-gaap Depreciation
Depreciation
500000 usd
us-gaap Depreciation
Depreciation
2800000 usd
us-gaap Depreciation
Depreciation
1300000 usd
us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
0 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
25800000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
25700000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
5080000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
5080000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
608000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
60000 usd
CY2023Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
4472000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
5020000 usd
CY2023Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
200000 usd
CY2022Q3 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
300000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
500000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1000000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
183000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
731000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
731000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
731000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
731000 usd
CY2023Q3 vxrt Finitelived Intangible Asset Expected Amortization After Year Four
FinitelivedIntangibleAssetExpectedAmortizationAfterYearFour
1365000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
4472000 usd
CY2023Q3 us-gaap Goodwill
Goodwill
4500000 usd
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
4573000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3112000 usd
CY2023Q3 vxrt Accrued Clinical And Manufacturing Expenses Current
AccruedClinicalAndManufacturingExpensesCurrent
535000 usd
CY2022Q4 vxrt Accrued Clinical And Manufacturing Expenses Current
AccruedClinicalAndManufacturingExpensesCurrent
2413000 usd
CY2023Q3 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
306000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
691000 usd
CY2023Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
577000 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1868000 usd
CY2023Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
5991000 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
8084000 usd
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
2000000 usd
CY2023Q3 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
79000 usd
CY2022Q4 us-gaap Deferred Revenue Current
DeferredRevenueCurrent
2000000 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.098 pure
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y4M24D
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1043000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
4275000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4421000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
4975000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5205000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
5387000 usd
CY2023Q3 vxrt Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
1410000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
26716000 usd
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
6257000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
20459000 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2517000 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
17942000 usd
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1554000 usd
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
1202000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
4617000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
2652000 usd
CY2023Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
10000 usd
CY2022Q3 us-gaap Short Term Lease Cost
ShortTermLeaseCost
117000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
41000 usd
us-gaap Short Term Lease Cost
ShortTermLeaseCost
335000 usd
CY2023Q3 us-gaap Variable Lease Cost
VariableLeaseCost
459000 usd
CY2022Q3 us-gaap Variable Lease Cost
VariableLeaseCost
397000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
1401000 usd
us-gaap Variable Lease Cost
VariableLeaseCost
926000 usd
CY2023Q3 us-gaap Lease Cost
LeaseCost
2023000 usd
CY2022Q3 us-gaap Lease Cost
LeaseCost
1716000 usd
us-gaap Lease Cost
LeaseCost
6059000 usd
us-gaap Lease Cost
LeaseCost
3913000 usd
CY2023Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000
CY2023Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2023Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2022Q3 vxrt Common Stock Increase In Shares Authorized
CommonStockIncreaseInSharesAuthorized
100000000
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
us-gaap Dividends
Dividends
0 usd
CY2023Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
28922321
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
29635697
CY2023Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
227434
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
12074692
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
14725261
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.48
vxrt Share Based Compensation Arrangement By Share Based Payment Award Shares Available For Grant Decrease From Grants
ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesAvailableForGrantDecreaseFromGrants
10631320
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
7399849
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.78
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
54720
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.31
vxrt Sharebased Compensation Arrangement By Sharebased Payment Award Options Released In Period
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsReleasedInPeriod
-0
vxrt Sharebased Compensation Arrangements By Sharebased Payment Award Options Released In Period Weighted Average Exercise Price
SharebasedCompensationArrangementsBySharebasedPaymentAwardOptionsReleasedInPeriodWeightedAverageExercisePrice
0
vxrt Share Based Compensation Arrangement By Share Based Payment Award Forfeited
ShareBasedCompensationArrangementByShareBasedPaymentAwardForfeited
2347716
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
2066399
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
5.08
vxrt Share Based Compensation Arrangement By Share Based Payment Award Canceled
ShareBasedCompensationArrangementByShareBasedPaymentAwardCanceled
1736253
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
1930082
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExpirationsInPeriodWeightedAverageExercisePrice
4.48
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
5527341
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
18073909
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.91
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
18073909
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
2.91
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y5M4D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
52000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
6434571
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
4.08
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P7Y3M7D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
44000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
17000 usd
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
54720
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
31000 usd
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
214000 usd
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
166993
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
474000 usd
CY2023Q3 us-gaap Share Price
SharePrice
0.75
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
0.78
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.88
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
22346418
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15623804
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
20466549
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
13753853
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3843000 usd
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3643000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10417000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10194000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-17400000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-29309000 usd
us-gaap Net Income Loss
NetIncomeLoss
-65090000 usd
us-gaap Net Income Loss
NetIncomeLoss
-83840000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
152026112
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
126889718
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
145810175
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
126374424
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.23
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.45
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.66

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0001437749-23-030009-index.html Edgar Link pending
0001437749-23-030009.txt Edgar Link pending
0001437749-23-030009-xbrl.zip Edgar Link pending
ex_564415.htm Edgar Link pending
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vxrt-20230930.xsd Edgar Link pending
vxrt20230930_10q.htm Edgar Link pending
vxrt-20230930_def.xml Edgar Link unprocessable
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vxrt-20230930_lab.xml Edgar Link unprocessable
vxrt20230930_10q_htm.xml Edgar Link completed