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Vaxcyte Q3 loss smaller than estimates; plans VAX-31 filing in first half of 2028

By Reuters News


Overview

  • U.S. vaccine developer's Q3 net loss was smaller than analyst expectations

  • Operating expenses rose 27% yr/yr, led by higher VAX-31 trial, manufacturing and personnel costs

  • VAX-31 met all prespecified primary endpoints in the pivotal Phase 3 OPUS-1 adult trial


Outlook

  • Company expects OPUS-2 and OPUS-3 Phase 3 trial results in first half of 2027

  • Vaxcyte plans to submit BLA for VAX-31 adult indication in first half of 2028

  • Company expects VAX-31 infant Phase 2 topline data by end of first half of 2027


Result Drivers

  • PCV PROGRAM SPENDING - Higher R&D and manufacturing costs for PCV programs, including VAX-31 Phase 3 trials, drove increased operating expenses

  • ADMINISTRATIVE COSTS - Growth in G&A headcount and professional services contributed to higher administrative expenses

  • OPUS-1 MILESTONE - VAX-31 met all prespecified primary endpoints and showed a safety profile similar to PCV20 and PCV21


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Net Loss

Beat

$297.06 mln

$310.72 mln (8 Analysts)

Q3 Operating Expenses

$308.27 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the biotechnology & medical research peer group is "buy"

  • Wall Street's median 12-month price target for Vaxcyte, Inc. is $121.00, about 99% above its November 3 closing price of $60.81


Reuters Recommended Reads

  • Nov 2 - Vertex Pharmaceuticals' Q3 revenue slightly beats estimates, outlook raised

  • Nov 3 - Amgen Q3 revenue beats expectations on higher volumes

  • Nov 2 - FDA to review uniQure's Huntington's gene therapy, decision due on May 2027


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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