Its stock was in the mid-$50s on Friday. This morning, it opened just over. . . $90.
The candidate is besting Merck and Pfizer on some viral strains, and at least matching them on all others. This is, indeed, a big deal. Here’s the latest — from BioSpace’s reporting:
…Vaxcyte’s investigational pneumococcal conjugate vaccine has achieved “near best-case scenario” data in a late-stage trial, matching existing shots on certain vaccine strains and beating them on others. The results sent the biotech’s shares up by more than 50% as investors welcomed a readout that could inject Vaxcyte into an $8 billion market.
VAX-31 met Pfizer’s existing pneumococcal conjugate vaccine (PCV) Prevar 20 and Merck’s Capvaxive on all 28 serotypes that one or both vaccines address, according to a Monday release. Vaxcyte’s option was superior to both vaccines on three unique serotypes. The Phase 3 trial met the co-primary endpoints that assessed non-inferiority of VAX-31 versus the marketed vaccines.
“[It] will be very difficult to refute that VAX-31 is showing best-in-class PCV potential here in this $8Bn+ (and growing) market,” Mizuho wrote in a Monday morning note.
Leerink Partners dubbed the readout “highly impressive….”
Now you know and this is excellent news for seniors most at risk from these viral vectors. Onward — to catch a jet outta’ Midway. Smile… keep it spinning in good karma whilst I am away.
नमस्ते
