Business
Vaxcyte Reports First Quarter 2022 Financial Results and Provides Business Update
-- Company Continues to Advance Phase 2 Portion of the Ongoing Phase 1/2 Clinical Proof-of-Concept Study Evaluating VAX-24 in Adults Aged 18 to 64 for the
About this update from Vaxcyte, Inc.
[{"type":"text","content":"-- Company Continues to Advance Phase 2 Portion of the Ongoing Phase 1/2 Clinical Proof-of-Concept Study Evaluating VAX-24 in Adults Aged 18 to 64 for the Prevention of Invasive Pneumococcal Disease and Pneumonia -- -- Announcement of Topline Safety, Tolerability and Immunogenicity Results from Both the Phase 1 and 2 Portions of the VAX-24 Phase 1/2 Study Expected by the End of 2022 -- -- Initiation of Separate VAX-24 Phase 2 Study in Adults Aged 65 and Older Expected in mid-2022 -- -- $352.3 Million in Cash, Cash Equivalents and Investments as of March 31, 2022, Including Net Proceeds of Approximately $107.6 Million from Recent Public Offering -- SAN CARLOS, Calif., May 09, 2022 (GLOBE NEWSWIRE) -- Vaxcyte, Inc. (Nasdaq: PCVX), a clinical-stage vaccine innovation company engineering high-fidelity vaccines to protect humankind from the consequences of bacterial diseases, today announced financial results for the first quarter ended March 31, 2022 and provided a business update. “We are pleased with the progress of our ongoing Phase 1/2 proof-of-concept study, which is now dosing participants in the Phase 2 portion designed to evaluate the safety, tolerability and immunogenicity of VAX-24, our 24-valent pneumococcal conjugate vaccine (PCV), for the prevention of invasive pneumococcal disease and pneumonia in adults,” said Grant Pickering, Chief Executive Officer and Co-founder of Vaxcyte. “We anticipate announcing the topline results of both the Phase 1 and Phase 2 portions of this study by year-end. If successful, this will be an important milestone for the Company that we expect will put us in a position to trigger additional development activities with our PCV franchise.” Mr. Pickering continued, “Over the coming months, we anticipate continued momentum across our pipeline, including VAX-XP, our PCV candidate with an expanded breadth of coverage of greater than 30 strains. We are actively advancing our PCV franchise, VAX-24 and VAX-XP, as we believe these vaccine candidates have the potential to offer the broadest protection from this very serious disease.” Recent Highlights Dosed First Participants in Both the Phase 1 and Phase 2 Portions of Ongoing VAX-24 Phase 1/2 Clinical Proof-of-Concept Study in Adults: In February 2022, Vaxcyte announced that the first participants were dosed in the Phase 1 portion of the VAX-24 Phase 1...