Shares of Aviragen Therapeutics (NASDAQ: AVIR) are down 13.24% after the company this morning said it has entered into a definitive merger agreement with Vaxart, Inc., a privately-held company focused on developing oral recombinant vaccines based on its proprietary delivery platform. The combined company created by the merger, Vaxart, Inc., will be focused on developing orally-delivered therapeutics and prophylactics to address various viral infections. “After a comprehensive review of strategic alternatives, we are delighted to announce this transaction with Vaxart, which will complement Aviragen’s focus on infectious diseases and position us to create both near and long-term value for our stockholders,” Aviragen Therapeutics president and chief executive officer Joseph M. Patti, Ph.D., stated in the news release.
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About Aviragen Therapeutics
Aviragen Therapeutics is focused on the discovery and development of the next generation of direct-acting antivirals to treat infections that have limited therapeutic options and affect a significant number of patients globally. It has three phase 2 clinical stage compounds: BTA074 (teslexivir), an antiviral treatment for condyloma caused by human papillomavirus types 6 and 11; vapendavir, a capsid inhibitor for the prevention or treatment of rhinovirus (RV) upper respiratory infections; and BTA585 (enzaplatovir), a fusion protein inhibitor in development for the treatment of respiratory syncytial virus infections. Aviragen also receives royalties from marketed influenza products, Relenza® and Inavir®. For additional information, visit www.aviragentherapeutics.com.
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