Vaxcyte (PCVX) Stock News

Vaxcyte closed $1.15 billion in concurrent offerings of common stock, pre-funded warrants and 1.50% convertible senior notes due 2032, including full exercise of underwriter over-allotments. Net proceeds will fund VAX-31 clinical programs, manufacturing scale-up, commercial launch preparations, and general corporate purposes.

Vaxcyte prices $1B concurrent stock, warrant and convertible note offering.

Biotech stocks fell sharply Tuesday, with the Medical-Development group down 3.3%. Vaxcyte dropped 9.7%, Moderna lost 7.8%, Revolution Medicines fell 3.8%. The sell-off extends a two-month downtrend.

Vaxcyte reported positive Phase 3 OPUS-1 results for VAX-31, meeting all endpoints. The company also announced $500M stock/warrant and $500M convertible note offerings to fund development and commercial prep.

Vaxcyte's VAX-31 met or exceeded immune responses versus Pfizer's Prevnar 20 and Merck's Capvaxive across 28 shared strains. Analysts see a clear regulatory path and potential market share capture in a multibillion-dollar adult vaccine market. The stock surged 27% to $71.75; Pfizer and Merck fell.

Vaxcyte shares jump 25% after pneumonia vaccine shows comparable immune response in late-stage trial.

S&P 500 futures edge lower; Vaxcyte, PTC surge in premarket.