Vaxcyte's Major $1.3 Billion Stock Offering Boosts Innovation

Vaxcyte Announces a Significant Public Offering

Vaxcyte, Inc. (Nasdaq: PCVX), a pioneering company in vaccine innovation, has recently made headlines with a major financial move aimed at bolstering its research and development efforts. They have announced a public offering of common stock and pre-funded warrants that is projected to raise approximately $1.3 billion. This funding will enable Vaxcyte to continue its mission of creating high-fidelity vaccines to combat bacterial diseases affecting communities worldwide.

Details of the Offering

The company is set to sell 10,194,175 shares of common stock and pre-funded warrants to purchase an additional 2,427,184 shares. The offering price for the common stock is established at $103 per share, while the pre-funded warrants are priced at $102.999 each. The exercise price for these warrants is notably low at $0.001 per share, making it an attractive opportunity for investors.

Estimated Proceeds and Utilization

The anticipated gross proceeds from this offering are expected to be around $1.3 billion before any fees or expenses are deducted. Vaxcyte has indeed provided its underwriters with an option to purchase up to an additional 1,893,203 shares at the public offering price, which could further bolster the total amount raised.

Timeline for Closing

Pending the satisfaction of standard closing conditions, Vaxcyte expects the offering to finalize shortly. The closing date has been set for September 6, 2024, which marks an important timeline for the stakeholders involved.

Strategic Partnerships in Offering Management

To effectively manage this substantial offering, Vaxcyte has partnered with several renowned financial institutions. BofA Securities, Jefferies, Leerink Partners, Goldman Sachs & Co. LLC, Evercore ISI, Guggenheim Securities, and Mizuho are serving as joint book-running managers for this public offering, highlighting the deal's significance in the investment community.

Vaxcyte's Innovative Vaccination Solutions

As a leader in vaccine development, Vaxcyte is focused on engineering broad-spectrum conjugate and novel protein vaccines aimed at preventing bacterial infectious diseases. Their lead candidate, VAX-31, is a Phase 3-ready 31-valent pneumococcal conjugate vaccine. This is particularly significant for adults and infants in preventing invasive pneumococcal diseases.

Expanding Vaccine Portfolio

In addition to VAX-31, Vaxcyte's pipeline includes VAX-24, designed to exceed the capabilities of existing infant vaccines on the market, and VAX-A1, a candidate aimed at preventing Group A Strep infections. The company is also working on VAX-PG and VAX-GI, aimed at managing periodontal disease and preventing Shigella, respectively. This robust pipeline demonstrates Vaxcyte's commitment to addressing pervasive bacterial infections that pose severe health risks.

Innovative Production Techniques

Vaxcyte leverages modern synthetic techniques to streamline the vaccine-making process. Utilizing the XpressCF™ cell-free protein synthesis platform, Vaxcyte aims to enhance the speed and efficacy of producing complex proteins and antigens. This advanced approach also seeks to provide substantial immunological benefits compared to traditional methods.

Contact Information for Inquiries

For media inquiries, interested parties can reach out to:

Patrick Ryan, Executive Director, Corporate Communications
Vaxcyte, Inc.
415-606-5135
media@vaxcyte.com

Alternatively, those seeking information on investor relations may contact:

Jennifer Zibuda, Senior Director, Investor Relations
Vaxcyte, Inc.
860-729-8902
investors@vaxcyte.com

Frequently Asked Questions

What is the amount of Vaxcyte's recent public offering?

Vaxcyte has announced a public offering aimed at raising approximately $1.3 billion.

What will the funds from the public offering be used for?

The funds are intended to support Vaxcyte's ongoing research and development of innovative vaccines against bacterial diseases.

Who are the underwriters for Vaxcyte's public offering?

The offering is being managed by BofA Securities, Jefferies, Leerink Partners, Goldman Sachs & Co. LLC, Evercore ISI, Guggenheim Securities, and Mizuho.

What is Vaxcyte's lead vaccine candidate?

VAX-31 is Vaxcyte's lead candidate, which is a Phase 3-ready pneumococcal conjugate vaccine.

How does Vaxcyte produce its vaccines?

Vaxcyte uses modern synthetic techniques, including the XpressCF™ cell-free protein synthesis platform, to streamline vaccine production.

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