To The Moon

Sign Up
  • Like
  • Comment
  • Favorite

BUZZ-Vaxcyte edges higher after upsized $550 mln equity raise

Reuters01-30

BUZZ-Vaxcyte edges higher after upsized $550 mln equity raise

** Pneumococcal vaccine developer Vaxcyte PCVX.O shares up 0.8% to $53.24 premarket after above-target $550 mln equity raise

** San Carlos, California-based firm late Thurs sold 11 mln shares at $50

** Offering size boosted from $ 500 mln, priced at 5.4% discount to last sale

** Co intends to use net offering proceeds to fund clinical development of the VAX-31 adult and pediatric programs, including ongoing VAX-31 adult Phase 3 program, among other purposes, per the offering prospectus

** BofA, Jefferies, Leerink Partners, Evercore and Guggenheim joint bookrunners

** Through Thurs close, PCVX shares up ~14% in 2026 but off ~40% in the past year

** 9 of 10 analysts rate the stock "strong buy" or "buy", 1 "hold"; median PT of $110 up from $90 a month ago, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

empty
No comments yet
 
 
 
 

Most Discussed

 
 
 
 
 

7x24

All