Vaxcyte reports Q3 EPS (83c), consensus ($1.13)

Cash, cash equivalents and investments were $3.273B as of September 30 compared to $1.242.9B as of December 31, 2023.”We are exceptionally proud of the significant progress we have made across the adult and infant clinical programs for our broad-spectrum, carrier-sparing pneumococcal conjugate vaccine PCV candidates, VAX-31 and VAX-24,” said Grant Pickering, Chief Executive Officer and Co-Founder of Vaxcyte (PCVX). “We believe the recent topline results for VAX-31 in adults demonstrate its potential as a best-in-class PCV to provide protection against both currently circulating and historically prevalent strains while setting a new standard for immunogenicity. For the adult indication, we look forward to moving VAX-31 into a Phase 3 program and plan to initiate the pivotal non-inferiority study by mid-2025. For the pediatric indication, we anticipate delivering the topline data from the primary immunization series of the VAX-24 Phase 2 study by the end of the first quarter of 2025, followed by topline data from the booster dose by the end of 2025. In addition, we plan to initiate the VAX-31 infant Phase 2 study in the first quarter of 2025, subject to IND application clearance by the end of this year.” “On the heels of our positive VAX-31 data, we completed a follow-on equity offering, raising $1.4 billion in net proceeds and further bolstering our balance sheet,” said Andrew Guggenhime, President and Chief Financial Officer of Vaxcyte. “We are well-positioned to maintain continued positive momentum across our PCV franchise, including the advancement of multiple adult and infant clinical studies and key steps to ensure global manufacturing readiness for the large, well-established pediatric population and the expanding adult market. We also continue to invest in our early-stage pipeline, including candidates targeting Group A Strep and Shigella, which, along with Streptococcus pneumoniae, are among the World Health Organization’s top antibiotic-resistant pathogens requiring urgent solutions.”