$750 Million Public Offering Announced by Vaxcyte
Vaxcyte, Inc., a clinical-stage vaccine innovation company engineering high-fidelity vaccines to protect humankind from the consequences of bacterial diseases, announced today the pricing of an underwritten public offering of common stock and pre-funded warrants.
According to the Company's press release on January 30, 2024, this is potentially a $750 Million public offering.
Vaxcyte is developing broad-spectrum conjugate and novel protein vaccines to prevent or treat bacterial infectious diseases.
Vaxcyte is re-engineering how highly complex vaccines are made through modern synthetic techniques, including advanced chemistry and the XpressCF™ cell-free protein synthesis platform, exclusively licensed from Sutro Biopharma, Inc.
Unlike conventional cell-based approaches, the Company's system for producing difficult-to-make proteins and antigens is intended to accelerate its ability to efficiently create and deliver high-fidelity vaccines with enhanced immunological benefits.
Vaxcyte's lead vaccine candidate, VAX-24, is a Phase 3-ready 24-valent, broad-spectrum, carrier-sparing pneumococcal conjugate vaccine (PCV) being developed to prevent invasive pneumococcal disease.
VAX-31, the Company's next-generation 31-valent PCV, is the broadest-spectrum PCV candidate in the clinic today.
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