Vaxart operates as a clinical-stage biopharmaceutical enterprise focused on discovering and developing oral tablet vaccines. Because its proprietary pipeline candidates are still undergoing human clinical trials and have not yet achieved widespread commercialization, the company does not generate steady retail sales revenue from approved pharmaceutical drugs. Instead, Vaxart typically funds its research operations through grants, government funding partnerships—such as collaborations with agencies like the Biomedical Advanced Research and Development Authority (BARDA)—license agreements, collaborative research contracts with larger healthcare entities, and capital-raising activities through public equity offerings and stock market mechanisms.