Vaxcyte ($PCVX) Shares Surge 33% on Positive Pneumococcal Vaccine Data

Sep 3, 2024, 12:25 PM

Vaxcyte ($PCVX) has reported positive topline data from its Phase 1/2 study of VAX-31, a 31-valent pneumococcal conjugate vaccine candidate, in adults aged 50 and older. The data indicated that VAX-31 met or exceeded regulatory immunogenicity criteria at high and middle doses. Following this announcement, Vaxcyte's shares surged 33% in pre-market trading. The vaccine's safety profile was found to be similar to Pfizer's pneumococcal shot. VAX-31 aims to prevent invasive pneumococcal disease.