Business
Vaxcyte Reports Second Quarter 2021 Financial Results and Provides Business Update
FOSTER CITY, Calif., Aug. 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., Aug. 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 second quarter ended June 30, 2021 and provided a business update. “The public health community continues to affirm the need for vaccines that can offer broader protection to prevent pneumococcal disease and, importantly, reach an expanded population including adults aged 50 and older as well as those at higher risk due to existing health conditions,” said Grant Pickering, Chief Executive Officer and Co-founder of Vaxcyte. “We are focused on making a significant contribution to fulfill this need with VAX-24, our lead, 24-valent pneumococcal conjugate vaccine (PCV) candidate, and VAX-XP, our PCV candidate with an expanded breadth of coverage.” Pickering continued, “We have made meaningful strides with VAX-24 in collaboration with Lonza, including the completion of the manufacturing and testing of the 24 conjugated drug substances (DS). We are well on our way to the final release of the DS and have now entered the final drug product (DP) formulation, fill and finish phase as we advance toward the anticipated submission of the Investigational New Drug (IND) application required to generate clinical proof-of-concept data.” Recent Highlights Advanced VAX-24 IND-Enabling Activities: Vaxcyte continues to progress several initiatives for VAX-24. The Company has manufactured and tested the 24 good manufacturing practice (GMP) conjugated DS and is now completing the final steps prior to release. Based upon the data collected to date, the Company has initiated the final process steps of GMP DP formulation, fill and finish leading to the anticipated IND filing.Received Additional Award from CARB-X to Advance VAX-A1: In August 2021, the Company received an additional award from CARB-X (Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator) that commits $3.2 million in funding to advance development of VAX-A1, a novel conjugate vaccine designed to prevent infections caused by Group A Streptococcus pyogenes (Strep) bacteria. The award will fund IND-enabling work for VAX-A1. It also builds on the CARB-X ...