Vaccine Innovation Company, Vaxcyte, Prices $750M Public Offering; Completes Enrollment in Pneumococcal Trial

New York, February 01, 2024 - PRISM MarketView - Vaccine innovation company, Vaxcyte (Nasdaq: PCVX) has announced pricing of a $750 million public offering which is expected to close on February 2, 2024.

Last month, Vaxcyte announced the completion of enrollment in its Phase 1/2 clinical study evaluating VAX-31, a 31-valent pneumococcal conjugate vaccine (PCV) candidate designed to prevent invasive pneumococcal disease (IPD), in healthy adults aged 50 and older. Vaxcyte expects to announce topline safety, tolerability and immunogenicity data from the Phase 1/2 study in the third quarter of 2024.

Vaxcyte’s shares of common stock are being sold at a public offering price of $64.00 per share, and the pre-funded warrants are being sold at a public offering price of $63.999 per pre-funded warrant.

In January 2023, Vaxcyte announced that the FDA had granted Breakthrough Therapy designation to VAX-24 for the prevention of IPD in adults.

Vaxcyte’s VAX-24 and VAX-31 candidates are designed to improve upon the standard-of-care PCVs for both children and adults.

Pneumococcal disease (PD) is an infection caused by Streptococcus pneumoniae (pneumococcus) bacteria. It can result in IPD, including meningitis and bacteremia, and non-invasive PD, including pneumonia, otitis media and sinusitis.

In the United States, approximately 320,000 people get pneumococcal pneumonia each year, which is estimated to result in approximately 150,000 hospitalizations and 5,000 deaths.

Vaxcyte is a vaccine innovation company engineering high-fidelity vaccines to protect humankind from the consequences of bacterial diseases. The Company is developing broad-spectrum conjugate and novel protein vaccines to prevent or treat bacterial infectious diseases. Vaxcyte’s lead candidate, VAX-24, is a Phase 3-ready 24-valent, broad-spectrum, carrier-sparing pneumococcal conjugate vaccine (PCV) being developed for the prevention of invasive pneumococcal disease. VAX-31, the Company’s next-generation 31-valent PCV, is the broadest-spectrum PCV candidate in the clinic today.

Vaxcyte is re-engineering the way highly complex vaccines are made through modern synthetic techniques, including advanced chemistry and the XpressCF™ cell-free protein synthesis platform, exclusively licensed from Sutro Biopharma, Inc. Unlike conventional cell-based approaches, the Company’s system for producing difficult-to-make proteins and antigens is intended to accelerate its ability to efficiently create and deliver high-fidelity vaccines with enhanced immunological benefits. Vaxcyte’s pipeline also includes VAX-A1, a prophylactic vaccine candidate designed to prevent Group A Strep infections; VAX-PG, a therapeutic vaccine candidate designed to slow or stop the progression of periodontal disease; and VAX-GI, a vaccine program designed to prevent Shigella. Vaxcyte is driven to eradicate or treat invasive bacterial infections, which have serious and costly health consequences when left unchecked.

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