Wishing Mr. Jeroen Grasman responsibilities and exciting challenges in this impressive new chapter!
In a bold move to steady its financial sails, clinical-stage biotech firm Vaxart has appointed Jeroen Grasman as its new Chief Financial Officer, effective May 19, 2025. With a market cap hovering around $93.3 million and liquidity concerns weighing heavily, Grasman steps in at a pivotal moment. Outgoing CFO Phillip Lee will remain until June 1 to ensure a seamless transition.
Grasman brings over 20 years of financial stewardship in biotech, most recently serving as CFO at AltruBio where he helped scale the business for global clinical trials. His journey also includes leadership at PACT Pharma, Intarcia Therapeutics and Genentech, reflecting a career steeped in guiding companies through complex financial landscapes.
Vaxart CEO Steven Lo expressed full faith in Grasman’s strategic insight and thanked Phillip Lee for his dedication and impact. Grasman, an alumnus of Harvard Business School with a foundation in applied mathematics, shared his excitement about contributing to Vaxart’s oral vaccine vision, saying he’s eager to “accelerate innovation with purpose.”
The company is known for pioneering oral vaccine technology, with a pipeline addressing viruses like norovirus, HPV, flu and COVID. Its mission is to make vaccines more accessible by eliminating refrigeration and needle requirements.
Still, all is not serene. Analysts caution about ongoing cash burn and short-term liabilities, noting Vaxart’s current ratio sits below 1. Forward-looking statements point to financial and regulatory hurdles ahead, but Grasman’s arrival is seen as a fresh spark for Vaxart’s ambitious trajectory.
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