Loading...
•
Dec 31, 2020
Vaxcyte Q4 2020 Earnings Report
Vaxcyte reported fourth quarter and full year 2020 financial results and provided a business update.
Key Takeaways
Vaxcyte reported a net loss of $20.7 million for the fourth quarter of 2020. The company's cash and cash equivalents were $386.2 million as of December 31, 2020, an increase due to Vaxcyte’s IPO in June 2020 and Series D financing in March 2020.
Achieved VAX-24 manufacturing milestones in preparation for the anticipated IND application submission and Phase 1/2 clinical study initiation.
Reported new data for VAX-XP program, demonstrating the potential benefits of Vaxcyte’s scalable technology platform.
Advanced VAX-A1, nominating the final vaccine candidate in the first quarter of 2021, with preclinical data showing meaningful protection against systemic and soft tissue infection.
Completed IPO and Series D Financing, resulting in aggregate net proceeds of $264.0 million and $109.9 million, respectively.
Vaxcyte
Vaxcyte
Forward Guidance
Vaxcyte anticipates key milestones for its vaccine programs.
Positive Outlook
- Vaxcyte expects to submit an IND application for VAX-24 to the U.S. Food and Drug Administration between January and June 2022.
- Vaxcyte expects to announce topline data from the ensuing Phase 1/2 clinical study between late 2022 and early 2023.
- Following the nomination of its final vaccine candidate for VAX-A1 in the first quarter of 2021, Vaxcyte plans to initiate IND-enabling studies in the second half of 2021.
- Vaxcyte expects to nominate a final vaccine candidate for VAX-PG, its novel therapeutic vaccine designed to treat periodontal disease, in the second half of 2021.