Vaxcyte Posts Wider-Than-Expected Q2 Loss of $1.97/Share
PCVX sits 92% above its 52-week low of $29.08.
Summary
Vaxcyte reported a Q2 loss of $1.97 per share, wider than the $1.85 consensus estimate. The miss comes amid heavy R&D spending on its pneumococcal vaccine pipeline, including the Phase 3 VAX-31 program. Cash burn remains elevated, but the company's $500M ATM facility and recent $601.8M follow-on provide runway. No revenue or guidance update was provided. The next catalyst is VAX-31 Phase 3 data expected in 2027.
At the time of this announcement, PCVX was trading at $55.92 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $8.1B. The 52-week trading range was $29.08 to $65.00. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.