Our law firm is investigating Vaxart, Inc (NASDAQ: VXRT) after The New York Times reported on the company’s announcement that the vaccine it had been working on was selected to be part of the government’s Operation Warp Speed. According to the article, the company’s reality is more complex than the announcement may have stated, and company insiders saw the value of their recently acquired stock options increase dramatically as a result of the accouncement.

On this news, Vaxart stock dropped significantly. VXRT shareholders may have a claim.

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Vaxart Insiders Profit on COVID-19 Announcement; NY Times Says Reality is "More Complex"

On July 25, 2020, The New York Times published an article stating that after Vaxart’s surprise announcement regarding its coronavirus vaccine, company insiders saw the value of their stock options soar, and a hedge fund that partly controlled the company gained nearly $200 million in instant profits.

Vaxart had announced that the vaccine it’s been working on was selected to be part of Operation Warp Speed, a federal initiative meant to quickly develop drugs to combat COVID-19. However, according to The New York Times, the company’s reality is “more complex” than the announcement may have stated.

The article reports that, while Vaxart’s vaccine was in a trial being organized in conjunction with Operation Warp Speed, Vaxart is not one of the companies selected to receive significant funding from the operation to mass-produce vaccine doses. According to The New York Times,

Some officials at the Department of Health and Human Services have grown concerned about whether companies including Vaxart are trying to inflate their stock prices by exaggerating their roles in Warp Speed, a senior Trump administration official said. The department has relayed those concerns to the Securities and Exchange Commission, said the official, who spoke on the condition of anonymity.

On this news Vaxart stock dropped, significantly harming investors. Speak with a securities fraud lawyer to learn more about your potential claim.

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Amanda is spearheading a securities lawsuit against NantHealth concerning fraudulent statements to investors about the success of its key product.