Vaxcyte's data lead to $600M haul, while Taysha looks to raise cash after Astellas deal
It’s only been a few days since Vaxcyte gave the biotech world a peek at data for its 24-valent pneumococcal vaccine, but the company is looking more and more confident as it opens up a nine-figure public offering.
On Wednesday, Vaxcyte announced that it is selling 15 million shares of its common stock in the offering. The deal is expected to hand Vaxcyte around $600 million and close by Friday.
The news comes as the Bay Area biotech lifted the cover on Phase I/II data for its 24-valent vaccine, showing that the shot was just as safe as Pfizer’s Prevnar 20, a 20-valent vaccine that was recently approved. The Vaxcyte shot, also known as VAX-24, had induced greater immune responses in 16 of the 20 valents it shares with Pfizer’s vaccine and had met the non-inferiority threshold compared directly to Prevnar 20 in all 20 shared strains.
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