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Sep 30, 2020
Vaxcyte Q3 2020 Earnings Report
Vaxcyte reported financial results for the third quarter of 2020 and provided a business update.
Key Takeaways
Vaxcyte reported a net loss of $21.0 million for the third quarter ended September 30, 2020. The company's cash and cash equivalents were $397.0 million as of September 30, 2020. Vaxcyte continues to advance its VAX-24 manufacturing activities and pipeline vaccines.
Advanced VAX-24 Manufacturing Activities
Appointed Romulo Colindres, MD, MPH as Chief Medical Officer
Appointed Suzanna Fekete, MSc as Vice President, Regulatory Affairs
Vaxcyte expects to submit an Investigational New Drug (IND) application for VAX-24 to the U.S. Food and Drug Administration (FDA) and initiate its Phase 1/2 clinical proof-of-concept study in the second half of 2021.
Forward Guidance
Vaxcyte reaffirmed its previously issued guidance for its pipeline programs.
Positive Outlook
- Vaxcyte expects to submit an Investigational New Drug (IND) application for VAX-24 to the U.S. Food and Drug Administration (FDA) and initiate its Phase 1/2 clinical proof-of-concept study in the second half of 2021.
- Vaxcyte expects to announce topline data from this study in 2022.
- In 2021, Vaxcyte expects to nominate a final vaccine candidate for VAX-A1, its novel conjugate vaccine designed to provide universal protection from infections caused by Group A Strep bacteria, which include pharyngitis, toxic shock syndrome and necrotizing fasciitis.
- In 2021, Vaxcyte expects to nominate a final vaccine candidate for VAX-PG, its novel therapeutic vaccine designed to treat periodontal disease.
- Vaxcyte expects to announce topline data from this study in 2022.
Historical Earnings Impact
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