Vaxcyte’s 24-Valent Pneumococcal Vaccine Shows Best-In-Class Potential
Small Biotech Hopes To Compete In Big Pharma-Dominated Market
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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Finance Watch: Biopharma Stocks Attempt An April Rebound
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.
Finance Watch: PTC Secures Up To $1bn In Funding From Blackstone
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.
Pfizer's Prevnar 20 Edges Closer To Infant Market, But Phase III Raises Some Questions
The pediatric market represents 70%-75% of the market for pneumococcal vaccines; Merck & Co.'s Vaxneuvance was already approved for infants earlier this year.