Vaxcyte prices $750M offering, one of biotech’s largest, as it goes up against Big Pharma's pneumococcal vaccines
It’ll take a lot of capital and resources to go up against Pfizer, Merck, GSK, Sanofi and others in the pneumococcal vaccine field.
So, San Carlos, CA-based Vaxcyte will seek one of the largest public offerings in recent biotech memory.
Vaxcyte’s request for $750 million, in an offering priced late Tuesday night, would rival only a few other biopharmas who have gone back to the market for additional financing on the heels of big data readouts or plans for large, late-stage studies. European drugmaker argenx hauled in nearly $1.3 billion last summer, and schizophrenia biotech Karuna Therapeutics, now being bought by Bristol Myers Squibb, secured $862 million in an August 2022 public offering.
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