Recent Updates — PCVX
Vaxcyte, Inc. consummated a combined capital raise of approximately $1.08 billion on October 9, 2026. The company issued $575 million in aggregate principal amount of 1.50% Convertible Senior Notes due 2032, which carry an initial conversion price of approximately $89.60 per share and mature on October 15, 2032. Concurrently, Vaxcyte sold 8,584,375 shares of common stock and pre-funded warrants at a public price of $64.00 per share, generating net proceeds of approximately $544.3 million after underwriting discounts. The debt offering generated net proceeds of approximately $558.7 million. Vaxcyte is a biotechnology company focused on developing vaccines for infectious diseases.
Vaxcyte announced positive topline results from the OPUS-1 pivotal Phase 3 adult trial evaluating its 31-valent pneumococcal conjugate vaccine (PCV) candidate, VAX-31. The study met all prespecified co-primary immunogenicity endpoints in adults aged 50 and older, demonstrating noninferiority to PCV20 and/or PCV21 for shared serotypes and superiority for unique serotypes. It also met the primary immunobridging endpoint in adults aged 18-49 and showed a safety profile similar to comparators. These results serve as the cornerstone for a planned Biologics License Application (BLA) submission expected in the first half of 2028, following data from OPUS-2 and OPUS-3 trials anticipated in early 2027. Vaxcyte is a clinical-stage vaccine innovation company engineering high-fidelity vaccines to protect against bacterial diseases.
Vaxcyte appointed David McAvoy as Chief Legal Officer and Luis Jodar as Chief Medical Officer on August 31, 2026. The company narrowed its guidance for topline safety, tolerability, and immunogenicity data from the VAX-31 adult Phase 3 OPUS-1 trial, now expecting results by the end of October 2026 instead of the previously communicated fourth quarter. Vaxcyte is a clinical-stage vaccine innovation company developing high-fidelity vaccines for bacterial diseases.
Vaxcyte, Inc. reported financial results for the quarter ended June 30, 2026, posting a net loss of $284.3 million compared to $166.6 million in the prior year period. Research and development expenses increased to $267.9 million from $194.2 million due to higher manufacturing costs for PCV programs and clinical trial expenses. The company held approximately $2.5 billion in cash, cash equivalents, and investments as of June 30, 2026. Clinically, the VAX-31 adult Phase 3 OPUS trials are fully enrolled with 6,191 participants dosed; topline data from the pivotal OPUS-1 trial is expected in Q4 2026, while OPUS-2 and OPUS-3 results are anticipated in H1 2027. The company also initiated a Phase 1 study for VAX-A1 against Group A Streptococcus. Additionally, Dr. Moncef Slaoui and Dr. John Markels were appointed to the Board of Directors, replacing retiring members Jacks Lee and Dr. Heath Lukatch. Vaxcyte is a clinical-stage vaccine innovation company engineering high-fidelity vaccines to protect against bacterial diseases.
Heath Lukatch is retiring from the Board of Directors, effective July 16, 2026. Concurrently, John Markels was appointed to the Board as a Class II director, effective the same date, with terms to expire at the 2028 annual meeting. Vaxcyte, Inc. is a biotechnology company focused on developing advanced vaccine technology.
Jacks Lee retired from the Board of Directors effective June 17, 2026, and transitioned to a consulting role focused on global strategic supply and manufacturing operations. Moncef Slaoui was appointed as a Class II director, effective immediately, with a term expiring in 2028. Vaxcyte, Inc. is a biotechnology company developing vaccine candidates.