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Vaxcyte Reports Positive Data for VAX-31, Stock Surges 30% to New Highs

Sep 3, 2024, 11:12 AM

Vaxcyte 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 company's market capitalization has surged to over $10.5 billion following the announcement. The data has been described as a 'grand slam' by Cantor, and the stock price has increased by 30% to new highs on the news. A webcast and conference call to present the results is scheduled for 8:00 a.m. ET.