Vaxcyte
🇺🇸 NASDAQ:PCVX
•
Dec 31, 2024
Vaxcyte Q4 2024 Earnings Report
Vaxcyte reported a net loss despite increased investments and progress in clinical programs.
Key Takeaways
Vaxcyte reported a net loss of $137.1 million for Q4 2024, driven by higher R&D and G&A expenses. The company made significant progress in its clinical programs, including VAX-31 and VAX-24 studies, and raised $2.2 billion in net proceeds from two equity offerings during the year.
Net loss for Q4 2024 was $137.1 million.
R&D expenses increased to $133.6 million for Q4 2024.
Cash, cash equivalents, and investments totaled $3.1 billion as of December 31, 2024.
Significant progress in VAX-31 and VAX-24 clinical programs.
Vaxcyte Revenue
Vaxcyte EPS
Forward Guidance
Vaxcyte expects continued progress in its clinical programs, with data readouts for VAX-24 and VAX-31 in 2025 and 2026.
Positive Outlook
- VAX-31 adult Phase 3 pivotal study set to begin by mid-2025.
- Topline data from VAX-24 infant Phase 2 study expected in Q1 2025.
- Continued strong cash position to support clinical programs.
- Investments in global manufacturing readiness.
- Ongoing focus on carrier-sparing platform for PCVs.
Challenges Ahead
- Projected continued net losses.
- High R&D spending due to ongoing trials.
- Uncertainty in clinical trial results.
- Potential delays in regulatory approvals.
- No revenue generation until commercialization.