Vaxcyte, Inc. - PCVX STOCK NEWS

Vaxcyte, Inc. (Nasdaq: PCVX) successfully closed its public offering of 13,030,000 shares of common stock at a price of $41.00 each, along with pre-funded warrants for 1,000,000 shares at $40.999 per share. This offering raised approximately $575 million in gross proceeds before expenses. The underwriting team, including BofA Securities and Jefferies, fully exercised an option for an additional 1,830,000 shares. These funds will support Vaxcyte's mission in developing innovative vaccines for bacterial diseases, including its lead candidate, VAX-24, aimed at preventing invasive pneumococcal disease. Vaxcyte utilizes a unique cell-free protein synthesis platform to enhance vaccine production efficiency.

Vaxcyte, Inc. (Nasdaq: PCVX) has announced a public offering of 11,200,000 shares of common stock and pre-funded warrants for approximately $500 million in gross proceeds. The common stock is priced at $41.00 per share, while pre-funded warrants are priced at $40.999 each, with an exercise price of $0.001. The offering is set to close on April 21, 2023, subject to customary conditions. The underwriters have an option to purchase up to an additional 1,830,000 shares. This capital raise aims to support Vaxcyte's ongoing development of innovative vaccines, including its lead candidate, VAX-24, targeting invasive pneumococcal disease. Vaxcyte's technology leverages advanced synthetic techniques to enhance vaccine efficacy.

Vaxcyte, Inc. (Nasdaq: PCVX) has initiated an underwritten public offering of its common stock and pre-funded warrants, seeking to raise capital to support its innovative vaccine initiatives. The offering will include an option for underwriters to buy an additional 15% of shares. The financial details of the offering are not yet disclosed, and the completion will depend on market conditions. BofA Securities, Jefferies, SVB Securities, Evercore ISI, and Guggenheim Securities are the joint book-running managers for this offering. The company has a robust pipeline focusing on vaccines to combat bacterial diseases, including its lead candidate VAX-24, a 24-valent pneumococcal conjugate vaccine. This offering is designed to further strengthen Vaxcyte’s position in the vaccine market.

Vaxcyte, Inc. (PCVX) announced positive results from the VAX-24 Phase 2 study in adults aged 65 and older, confirming robust opsonophagocytic activity (OPA) immune responses across all 24 serotypes. The VAX-24 2.2mcg dose met non-inferiority criteria for 18 of 20 serotypes common with Prevnar 20 and demonstrated superior responses for four additional serotypes. Six-month safety data indicated similar safety and tolerability results compared to Prevnar 20. Vaxcyte plans to advance VAX-24 to a Phase 3 study, with topline data expected in 2025. The data supports VAX-24's potential as a best-in-class pneumococcal conjugate vaccine (PCV), aiming to reduce the incidence of invasive pneumococcal disease (IPD) among adults.

Vaxcyte, Inc. (Nasdaq: PCVX) will host a webcast and conference call on April 17, 2023, at 7:30 a.m. ET to discuss results from its Phase 2 study of VAX-24, a 24-valent pneumococcal conjugate vaccine candidate, targeting adults aged 65 and older. The discussion will include detailed six-month safety data from adult Phase 2 studies. VAX-24 aims to provide broad-spectrum protection against invasive pneumococcal diseases. Vaxcyte is utilizing modern synthetic techniques like the XpressCF™ cell-free protein synthesis platform to create high-fidelity vaccines efficiently. The company's pipeline also features candidates such as VAX-31, VAX-A1, VAX-PG, and VAX-GI, addressing various bacterial infections.