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Latest From Vaxcyte, Inc
Industry investors foresee continued hardship for public companies still without compelling clinical data for their assets, plus the growing influence of the US Inflation Reduction Act on biopharma strategy.
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.
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.
French biotech brings candidate for Gaucher and Parkinson’s disease in-house under 2020 pact with Weizmann. Cellevolve, Seattle Children’s partner on cell therapies for CNS cancers.
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