Business
Vaxcyte Reports First Quarter 2021 Financial Results and Provides Business Update
FOSTER CITY, Calif., May 11, 2021 (GLOBE NEWSWIRE) -- Vaxcyte, Inc. (Nasdaq: PCVX), a next-generation vaccine company seeking to improve global health by
About this update from Vaxcyte, Inc.
[{"type":"text","content":"FOSTER CITY, Calif., May 11, 2021 (GLOBE NEWSWIRE) -- Vaxcyte, Inc. (Nasdaq: PCVX), a next-generation vaccine company seeking to improve global health by developing superior and novel vaccines designed to prevent or treat some of the most common and deadly infectious diseases worldwide, today announced financial results for the first quarter ended March 31, 2021 and provided a business update. “Over the past few months, we have made good progress as we advance VAX-24, our 24-valent pneumococcal conjugate vaccine (PCV), toward the anticipated submission of the Investigational New Drug (IND) application in order to generate clinical proof-of-concept data,” said Grant Pickering, Chief Executive Officer and Co-founder of Vaxcyte. “While we remain laser-focused on delivering on our VAX-24 milestones, I am also very excited by the progress made to advance our pipeline vaccines, including VAX-XP, our PCV candidate with an expanded breadth of coverage, and VAX-A1, our novel conjugate vaccine designed to provide universal protection from Group A Strep infections.” Recent Highlights Advanced VAX-24 IND-Enabling Activities: Vaxcyte continues to progress several initiatives for VAX-24 in connection with its anticipated IND application submission to the U.S. Food and Drug Administration (FDA) and ensuing Phase 1/2 clinical proof-of-concept study initiation. Among other activities, the Company made substantive progress toward completion of the final stage of production of the 24 good manufacturing practice (GMP) conjugated drug substances. Published New Research Supporting VAX-24 and Vaxcyte’s Technology Platform: Since the beginning of 2021, Vaxcyte published preclinical VAX-24 data as well as research supporting its technology platform. The papers can be accessed here: https://vaxcyte.com/posters-publications/. The paper, “Non-clinical Immunological Comparison of a Next-Generation 24-Valent Pneumococcal Conjugate Vaccine (VAX-24) Using Site-Specific Carrier Protein Conjugation to the Current Standard of Care (PCV13 and PPV23),” published in the journal Vaccine, uses a rabbit model to evaluate the immune response of Vaxcyte’s 24-valent PCV candidate compared to Prevnar13® (PCV13) and Pneumovax®23 (PPV23). In this study, all serotype conjugates (pneumococcal strains) in VAX-24 met the primary objective to elicit immune responses that were mor...