Vaxart maintains 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 corporate financial reports, SEC filings, and market data tracking platforms, Vaxart has approximately 240.6 million to 242.8 million shares outstanding. This share count fluctuates periodically due to equity issuances, public stock offerings, employee stock option exercises, and warrant conversions executed to fund ongoing laboratory research and clinical trial programs.