Vaxart has a substantial number of equity shares circulating in the public market, reflecting its history of capital-raising activities common among clinical-stage biotechnology enterprises. According to recent financial disclosures, corporate summaries, and market capitalization data tracking platforms, Vaxart has approximately 240.6 million shares outstanding. This share count fluctuates periodically due to equity issuances, stock option exercises by employees, warrant conversions, and potential capital-raising transactions executed to fund ongoing research operations and clinical trial programs.