BUZZ - Vaxcyte shares fall after launching 1.1 billions stock and convertible bond offering
路透社2026/10/06 13:02On October 6 - Vaccine developer Vaxcyte (PCVX.O) shares fell 1.7% pre-market to $72.60, as the company seeks financing. PCVX launched a public offering on Monday night, including $500 millions in stock and pre-funded warrants, as well as $500 millions in convertible bonds (CBs) due October 15, 2032. On Monday, the PCVX share price soared approximately 31% and closed at $73.82 after the company announced its pneumonia vaccine VAX-31 met all primary endpoints in a late-stage clinical trial, generating immune responses at least comparable to Pfizer’s Prevnar 20 and Merck’s Capvaxive. The company plans to use the net proceeds from both offerings to fund the clinical development of VAX-31’s adult and pediatric programs—including the ongoing phase III adult study for VAX-31—clinical trials for its seasonal flu vaccine (OPUS-2), and other purposes. Jefferies, Leerink, BofA, Evercore, Goldman Sachs, and Guggenheim are joint book-running managers for this equity offering; Jefferies, Leerink, BofA, Goldman Sachs, and Evercore are joint lead underwriters for the convertible bonds. Based in San Carlos, California, PCVX has about 148.8 million shares outstanding and a market capitalization of $11 billions. As of Monday, the stock was up 60% year-to-date. According to London Stock Exchange Group (LSEG) data, out of 10 analysts, 9 rate the stock as “strong buy” or “buy” and 1 as “hold”; the median price target is $122. (For the convenience of non-native English speakers, Reuters provides automated translations of its reports into several other languages. Because automated translation may contain errors or not capture the intended context, Reuters does not guarantee the accuracy of the automated text, which is provided for reader convenience. Reuters assumes no responsibility for any damage or loss arising from the use of automated translation.)
October 6 - ** Vaccine developer Vaxcyte (PCVX.O) shares fell 1.7% premarket to $72.60 as the company seeks to raise funds
** On Monday evening, PCVX launched a public offering (link) including $500 million in shares and pre-funded warrants, as well as $500 million in convertible bonds (CBs) maturing on October 15, 2032
** On Monday, PCVX stock soared about 31%, closing at $73.82 after the company announced that its pneumonia vaccine VAX-31 met all primary endpoints in late-stage clinical trials (link), producing immune responses at least comparable to Pfizer's PFE.N Prevnar 20 and Merck's MRK.N Capvaxive
** The company plans to use the net proceeds from both offerings to fund clinical development of the adult and pediatric VAX-31 programs, including the ongoing adult phase III trial of VAX-31, clinical trials for its seasonal flu vaccine (OPUS-2), and for other purposes
** Jefferies, Leerink, BofA, Evercore, Goldman Sachs, and Guggenheim are joint bookrunners for the equity offering; Jefferies, Leerink, BofA, Goldman Sachs, and Evercore are lead underwriters for the convertible bond offering
** California-based PCVX, headquartered in San Carlos, has about 148.8 million shares outstanding and a market capitalization of $11 billion
** As of Monday, the stock is up 60% for the year
** According to London Stock Exchange Group (LSEG) data, 9 out of 10 analysts rate the stock as “strong buy” or “buy,” with 1 rating it “hold”; the median price target is $122
(To assist non-English speakers, Reuters automatically translates its reports into several other languages. Automated translation may contain errors or omit necessary context; Reuters does not guarantee the accuracy of automated translations and provides them solely for readers’ convenience. Reuters assumes no responsibility for any damage or loss arising from the use of automated translation.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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