Vaxcyte’s 24-Valent Pneumococcal Vaccine Shows Best-In-Class Potential
Small Biotech Hopes To Compete In Big Pharma-Dominated Market
Executive Summary
The biotech’s share price jumps more than two-thirds as analysts hail top-line Phase I/II data as better than expected. Vaxcyte hopes to hold Phase III planning discussions with the FDA in 2023.
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Public Company Edition: With the XBI up more than 9% in April, a few follow-on offerings –$23m to support Gamida Cell’s small product launch and $500m to fund Vaxcyte’s large clinical trial program – have made it to market. Also, China’s CytoMed launched the sixth biopharma IPO in the US this year.
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Public Company Edition: PTC will get $350m up front as part of an initial $500m commitment. Also, while Biohaven and Vaxcyte launched traditional follow-on offerings, Recursion and Agios took the private placement and royalty sale routes, while others revealed job cuts and other strategic updates.
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