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Jun 30, 2024
Vaxcyte Q2 2024 Earnings Report
Vaxcyte's financial results for Q2 2024 were announced, along with a business update, highlighting progress in PCV programs and upcoming milestones.
Key Takeaways
Vaxcyte reported a net loss of $128.7 million for the second quarter of 2024. The company's cash, cash equivalents, and investments totaled $1,851.9 million as of June 30, 2024. Key milestones include the expected topline data from the VAX-31 adult Phase 1/2 study in September 2024 and the advancement of either VAX-24 or VAX-31 to an adult Phase 3 program.
VAX-31 adult Phase 1/2 study topline safety, tolerability, and immunogenicity data are expected in September 2024.
Following VAX-31 adult study results, Vaxcyte plans to advance either VAX-24 or VAX-31 to an adult Phase 3 program.
VAX-24 infant Phase 2 study topline data from the primary immunization series are expected by the end of the first quarter of 2025, followed by topline data from the booster dose by the end of 2025.
Vaxcyte reported $1.9 billion in cash, cash equivalents, and investments as of June 30, 2024.
Forward Guidance
Vaxcyte is advancing its PCV programs with key milestones anticipated in the near future.
Positive Outlook
- Topline safety, tolerability and immunogenicity data from VAX-31 adult Phase 1/2 study in September 2024.
- Advancement of either VAX-24 or VAX-31 to an adult Phase 3 program following VAX-31 data.
- If VAX-24: Topline safety, tolerability and immunogenicity data in the second half of 2025 following Phase 3 pivotal study initiation in adults aged 50 and older.
- If VAX-24: Initiation of balance of expected Phase 3 studies in 2025 and 2026.
- If VAX-31: Initiation of full complement of expected Phase 3 studies in 2025 and 2026.
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