BUZZ - Vaxcyte shares dip slightly after raising 1 billion dollars for pneumococcal vaccine development
路透社2026/10/07 11:14On October 7: Vaxcyte (PCVX.O) shares fell 0.3% in premarket trading on Wednesday to $66.50, after the company completed a $1.1 billion financing round. On Tuesday night, PCVX announced the pricing (link) of approximately 7.8 million shares of common stock and pre-funded warrants at $64 per share, raising $500 million in total; simultaneously, the company launched a public offering of $500 million of convertible senior notes with a coupon rate of 1.5%, maturing on October 15, 2032. The conversion price of the convertible notes is $89.60, representing a 40% premium over the equity offering price. On Monday, PCVX shares surged around 31% after the company announced that its pneumococcal vaccine VAX-31 met all primary endpoints in late-stage clinical trials (link), generating an immune response at least comparable to that of Pfizer’s Prevnar 20 (PFE.N) and Merck’s Capvaxive (MRK.N). On Tuesday, following the launch of the public offering (link), the stock closed down nearly 10% at $66.70. PCVX plans to use the net proceeds from this offering to fund clinical development of the VAX-31 adult and pediatric programs, including the ongoing adult Phase III clinical trial of VAX-31. Jefferies, Leerink, BofA, Evercore, Goldman Sachs, and Guggenheim are joint book-running managers for the equity offering; Jefferies, Leerink, BofA, Goldman Sachs, and Evercore act as lead managers for the convertible notes transaction. As of Tuesday’s close, PCVX shares are up about 45% year-to-date.
October 7 - ** Vaxcyte (PCVX.O) shares fell 0.3% to $66.50 in pre-market trading on Wednesday after the company completed a $1 billion financing
** PCVX announced Tuesday evening (link) that it priced approximately 7.8 million shares of common stock and pre-funded warrants at $64 per share, raising a total of $500 million; at the same time, it launched a public offering of $500 million in convertible bonds with a coupon rate of 1.5%, which will mature on October 15, 2032
** The conversion price of the convertible bonds is $89.60, representing a 40% premium to this stock offering price
** On Monday, PCVX shares surged about 31% after the company announced that its pneumococcal vaccine VAX-31 met all primary endpoints in late-stage clinical trials (link), and produced immune responses at least comparable to Pfizer's PFE.N Prevnar 20 and Merck's MRK.N Capvaxive
** On Tuesday, after the company launched (link) the public offerings, the stock closed down nearly 10% at $66.70
** The company plans to use the net proceeds from this offering to fund clinical development of the VAX-31 adult and pediatric programs, including the ongoing VAX-31 adult Phase III clinical trial
** Jefferies, Leerink, BofA Securities, Evercore, Goldman Sachs, and Guggenheim acted as joint book-running managers for the equity offering; Jefferies, Leerink, BofA Securities, Goldman Sachs, and Evercore served as lead underwriters for the convertible bonds
** As of Tuesday's close, PCVX shares were up approximately 45% year-to-date
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