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Sep 30, 2024
Vaxcyte Q3 2024 Earnings Report
Vaxcyte announced financial results for the third quarter ended September 30, 2024, and provided a business update.
Key Takeaways
Vaxcyte reported positive topline data from Phase 1/2 study of VAX-31 and completed a follow-on equity offering, raising $1.4 billion in net proceeds. VAX-31 was selected to advance to Phase 3 program, with initiation expected by mid-2025. VAX-24 infant Phase 2 study topline data is expected by the end of the first quarter of 2025.
Reported positive topline safety, tolerability and immunogenicity data from Phase 1/2 study of VAX-31 in adults aged 50 and older.
VAX-31 selected to advance to Phase 3 program; initiation of Phase 3 pivotal, non-inferiority study expected by mid-2025.
VAX-24 infant Phase 2 study topline data from primary immunization series expected by end of first quarter of 2025.
Completed follow-on financing totaling $1.5 billion in gross proceeds.
Forward Guidance
Vaxcyte is advancing the clinical development of its PCV programs with several anticipated key upcoming milestones.
Positive Outlook
- Initiate a Phase 3 pivotal, non-inferiority study for VAX-31 by mid-2025 and announce topline data in 2026.
- Initiate remaining Phase 3 studies for VAX-31 in 2025 and 2026.
- Announce topline data from the primary three-dose immunization series of the Phase 2 study for VAX-24 by the end of the first quarter of 2025.
- Announce topline data from the booster dose for VAX-24 by the end of 2025.
- Initiate Phase 2 study for VAX-31 in the first quarter of 2025 subject to clearance of the IND application by year-end 2024.
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