Vaxart Announces $5 Million Inavir® Revenue Milestone
April 20 2018 - 8:00AM
Business Wire
2017 Net Sales of Inavir® in Japan Exceeded ¥20
Billion, Triggering USD $5 Million Milestone Payment
Vaxart, Inc., a clinical-stage biotechnology company developing
oral recombinant vaccines that are administered by tablet rather
than by injection, announced today that it received notification
from Daiichi Sankyo Co., Ltd, that sales of Inavir®, a single dose
product licensed in Japan to prevent or treat influenza infection,
exceeded ¥20 billion in the fiscal year 2017, triggering a $5
million milestone payment to Vaxart. The payment is expected in the
second quarter of 2018 and is in accordance with the terms of the
2009 Commercialization Agreement between Daiichi Sankyo and Biota
Pharmaceuticals, a company recently acquired by Vaxart.
“Daiichi Sankyo, our partner for Inavir® in Japan, has
successfully built a strong franchise in the influenza sector since
the launch of Inavir®in 2010, and is now the market leader in
Japan,” said Wouter Latour, chief executive office of Vaxart. “We
expect Inavir® to continue to generate meaningful royalty revenue
for Vaxart over the coming years, and we congratulate our
colleagues at Daiichi Sankyo with these excellent results.”
About Inavir®
Since its launch in 2010, Inavir® (laninamivir octanoate) has
become the leading treatment for influenza in Japan. The product is
taken via a single inhaled dose, which can be more convenient than
other flu medications that require several days of dosing. Inavir®
is sold in Japan by Daiichi Sankyo and has been approved for both
treatment and prevention of the influenza A and influenza B
viruses.
About Daiichi Sankyo
Daiichi Sankyo Group is dedicated to the creation and supply of
innovative pharmaceutical products to address diversified, unmet
medical needs of patients in both mature and emerging markets. With
over 100 years of scientific expertise and a presence in more than
20 countries, Daiichi Sankyo and its 15,000 employees around the
world draw upon a rich legacy of innovation and a robust pipeline
of promising new medicines to help people. In addition to a strong
portfolio of medicines for hypertension and thrombotic disorders,
under the Group’s 2025 Vision to become a “Global Pharma Innovator
with Competitive Advantage in Oncology,” Daiichi Sankyo research
and development is primarily focused on bringing forth novel
therapies in oncology, including immuno-oncology, with additional
focus on new horizon areas, such as pain management,
neurodegenerative diseases, heart and kidney diseases, and other
rare diseases. For more information, please visit:
www.daiichisankyo.com.
About Vaxart
Vaxart is a clinical-stage biotechnology company focused on
developing oral recombinant protein vaccines based on its
proprietary oral vaccine platform. Vaxart’s vaccines are designed
to generate broad and durable immune responses that protect against
a wide range of infectious diseases and may be useful for the
treatment of chronic viral infections and cancer. Vaxart’s vaccines
are administered using a convenient room temperature-stable tablet,
rather than by injection. Vaxart believes that tablet vaccines are
easier to distribute and administer than injectable vaccines, and
have the potential to significantly increase vaccination rates.
Vaxart’s development programs include oral tablet vaccines that are
designed to protect against norovirus, seasonal influenza and
respiratory syncytial virus (RSV), as well as a therapeutic vaccine
for human papillomavirus (HPV). Vaxart is also developing several
small-molecule antiviral drug candidates, including teslexivir
(BTA074), an antiviral treatment for condyloma caused by HPV types
6 and 11. For more information, please visit www.vaxart.com.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that
involve substantial risks and uncertainties. All statements, other
than statements of historical facts, included in this press release
regarding our strategy, prospects, plans and objectives, results
from preclinical and clinical trials, commercialization agreements
and licenses, beliefs and expectations of management are
forward-looking statements. These forward-looking statements may be
accompanied by such words as “believe,” “could,” “potential”,
“will” and other words and terms of similar meaning. Examples of
such statements include, but are not limited to, statements
relating to the Vaxart’s ability to develop and commercialize its
product candidates, clinical results and trial data, Vaxart’s
ability to obtain and maintain regulatory approval of its product
candidates and Vaxart’s reliance on third party funding and grants.
Vaxart may not actually achieve the plans, carry out the intentions
or meet the expectations or projections disclosed in our
forward-looking statements and you should not place undue reliance
on these forward-looking statements. Actual results or events could
differ materially from the plans, intentions, expectations and
projections disclosed in the forward-looking statements. Various
important factors could cause actual results or events to differ
materially from the forward-looking statements that Vaxart makes,
that Vaxart’s product candidates may not be approved by the FDA or
non-U.S. regulatory authorities; that, even if approved by the FDA
or non-U.S. regulatory authorities, Vaxart’s product candidates may
not achieve broad market acceptance; and the risks described in the
“Risk Factors” sections of the Registration Statement on Form S-4
(file no. 333-222009) and of Vaxart’s periodic reports filed with
the SEC. Vaxart does not assume any obligation to update any
forward-looking statements, except as required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180420005076/en/
Stern Investor RelationsCarl Mauch,
212-362-1200vaxart@sternir.com
Vaxart (NASDAQ:VXRT)
Historical Stock Chart
From Aug 2024 to Sep 2024
Vaxart (NASDAQ:VXRT)
Historical Stock Chart
From Sep 2023 to Sep 2024