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Mar 31, 2022
Vaxcyte Q1 2022 Earnings Report
Vaxcyte reported financial results for the first quarter ended March 31, 2022 and provided a business update.
Key Takeaways
Vaxcyte reported cash, cash equivalents and investments of $352.3 million as of March 31, 2022. The company's net loss was $39.0 million for the three months ended March 31, 2022.
Dosed First Participants in both the Phase 1 and Phase 2 Portions of Ongoing VAX-24 Phase 1/2 Clinical Proof-of-Concept Study in Adults
Completed Successful $115 Million Follow-On Financing
Appointed Mikhail Eydelman as Senior Vice President, General Counsel & Corporate Secretary
Vaxcyte expects to announce topline safety, tolerability and immunogenicity results from both the Phase 1 and Phase 2 portions of the Phase 1/2 clinical study evaluating VAX-24 for the prevention of invasive pneumococcal disease (IPD) and pneumonia in adults by the end of 2022.
Forward Guidance
Vaxcyte anticipates several key milestones for its vaccine candidates.
Positive Outlook
- Topline safety, tolerability and immunogenicity results from both the Phase 1 and Phase 2 portions of the Phase 1/2 clinical study evaluating VAX-24 for the prevention of invasive pneumococcal disease (IPD) and pneumonia in adults by the end of 2022.
- Enrollment in a separate Phase 2 study of approximately 200 healthy adults aged 65 and older in mid-2022 to evaluate the safety, tolerability and immunogenicity of a single injection of VAX-24.
- Topline results from the Phase 2 study in adults aged 65 and older are expected to be announced in the first half of 2023.
- Submission of its first VAX-24 pediatric Investigational New Drug (IND) application to the U.S. Food and Drug Administration (FDA) in the first half of 2023.
- Guidance for the anticipated submission of its IND application in adults to the FDA following the announcement of the topline results from the ongoing VAX-24 Phase 1/2 study in adults aged 18 to 64 for VAX-XP.
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