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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The vaccine, V116, targets eight unique serotypes, and it is particularly geared toward preventing pneumococcal disease in adults, especially the elderly, according to Merck.
Public Company Edition: Private Galderma raised $1bn but said its next likely financing will be an IPO. Also, Azitra went public while Turnstone, Apogee and Sagimet initiated the process; Sutro signed a royalty deal for up to $390m; and despite a follow-on offering mini-surge, cost cuts continue.
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.