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New Funding for COVID-19 Vaccines in Pill and Nasal Spray Form
The U.S. Department of Health and Human Services (HHS) has announced an allocation of up to $500 million for mid-stage clinical trials focused on developing COVID-19 vaccines in nasal spray and pill forms. This funding initiative is part of Project NextGen, a broader $5 billion effort spearheaded by the Biomedical Advanced Research and Development Authority (BARDA) to cultivate innovative vaccines and treatments that offer more comprehensive and long-lasting protection against COVID-19.
The Biomedical Advanced Research and Development Authority, an HHS subsidiary dedicated to helping companies develop crucial medical supplies for public health emergencies, is leading this project. As a significant part of this initiative, the project has earmarked up to $453 million for Vaxart to conduct studies on its oral COVID-19 vaccine. Following this announcement, Vaxart's shares surged, more than doubling to $1.78 after market trading.
Additionally, two privately-held companies, Castlevax and Cyanvac, are receiving approximately $34 million and $40 million, respectively, to advance their intranasal vaccine candidates. These trials will involve 10,000 participants each, aiming to measure the efficacy and safety of these new vaccines in comparison to those already licensed by the FDA.
The current COVID-19 vaccines, which are administered via intramuscular injections, are highly effective but have limitations. According to HHS, these vaccines are less capable of inducing a robust immune response in mucosal areas such as the mouth, nose, and gut—critical points of entry for the SARS-CoV-2 virus.
