Vaxcyte’s shares hit record high after early data on pneumococcal vaccine, ET HealthWorld

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

Vaxcyte’s shares hit record high after early data on pneumococcal vaccine, ET HealthWorld

data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==

London: Vaxcyte’s shares surged as much as 48 per cent to a record high on Tuesday after the company said its experimental pneumococcal vaccine showed promising results in an early-stage study, with a safety profile similar to rival Pfizer’s shot.

Vaxcyte said some doses of vaccine VAX-31 showed immune responses that exceeded expectations for 20 serotypes, or variations of the pneumococcal bacteria, which it had in common with Pfizer’s Prevnar 20 vaccine.

Pneumococcal ******** is a serious bacterial infection caused by bacteria called streptococcus pneumoniae. It spreads through direct contact with respiratory secretions such as saliva and mucus.

Vaxcyte’s stock rose to $119.27, its highest level since its Nasdaq debut in 2020. It closed up 36.4 per cent .

On Tuesday, the vaccine developer added more than $4 billion to its market capitalization.

Separately, the company said it has commenced an underwritten public offering of $1 billion of its common stock and pre-funded warrants.

The company, which does not have any approved product on the market, was testing the vaccine in 1,015 healthy adults aged 50 and above to prevent invasive pneumococcal ********.

Jefferies analyst Roger Song said the results were “straightforwardly impressive,” adding that “VAX-31, if successful, will take up the lion’s share in a growing $10 billion plus future pneumococcal conjugate vaccine market.”

In the study, all doses of VAX-31 showed a safety profile similar to Prevnar 20 and robust immune responses for all 31 serotypes of the bacteria through the full six-month evaluation *******, Vaxcyte said.

Shares of Pfizer closed down 2.45 per cent at $28.31.

Based on results from the early-stage trial, Vaxcyte plans to advance the vaccine to a late-stage study in adults, with data expected in 2026. (Reporting by Sneha S K, additional reporting by Sriparna Roy in Bengaluru; Editing by Shreya Biswas and Maju Samuel)

• Published On Sep 4, 2024 at 07:21 AM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==

Download ETHealthworld App

• Get Realtime updates
• Save your favourite articles

data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==

data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==

Scan to download App
data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///ywAAAAAAQABAAACAUwAOw==

This is the hidden content, please

• Sign In
• or
• Sign Up

#Vaxcytes #shares #hit #record #high #early #data #pneumococcal #vaccine #HealthWorld

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up