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Vaxcyte shares surge approximately 50% on successful pneumococcal vaccine clinical trial

BioPharma Dive +1 ·

PCVX
PCVX Vaxcyte Inc
$73.82 +30.70%
View chart & analysis →
PFE -1.40%
  1. 1Vaxcyte's experimental pneumococcal vaccine VAX-31 met all primary efficacy endpoints in the first of three late-stage clinical trials.
  2. 2VAX-31 showed protective effects against 28 strains in adults aged 50 and older and demonstrated superiority against 3 unique strains.
  3. 3Vaxcyte shares rose approximately 50% in early trading, pushing its market capitalization past $12 billion.

So what's the key point?

The pneumonia vaccine being developed by Vaxcyte was confirmed to be effective in trials. Following this news, the stock price rose significantly by approximately 50%.

Source BioPharma Dive +1 · View original ↗

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