Vaxcyte, Inc.
PCVX evidence brief
What we can confirm
- BioSniper Score:
- 6.4 / 10
- Market Cap:
- $8.79B
- Lead Asset:
- vax-24 (Phase 2)
What it means
What to watch
Prepared research question
What matters most for PCVX—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · PCVX
Vaxcyte (PCVX) is a clinical-stage vaccine innovation company using its XpressCF cell-free protein synthesis platform to develop high-fidelity vaccines, with its lead 31-valent pneumococcal conjugate vaccine (VAX-31) having recently met all primary endpoints in a pivotal Phase 3 adult trial.
Key risk: No approved products
BioSniper Score
Based on 4 of 6 signals
Market Cap
$8.79B
Cash Runway
—
Lead Asset
vax-24 (Phase 2)
Next Catalyst
—
Financial data as of Jun 30, 2026.
Tracking 4 pipeline candidates · 7 clinical trials for Vaxcyte, Inc..
Vaxcyte (PCVX) is a clinical-stage vaccine innovation company using its XpressCF cell-free protein synthesis platform to develop high-fidelity vaccines, with its lead 31-valent pneumococcal conjugate vaccine (VAX-31) having recently met all primary endpoints in a pivotal Phase 3 adult trial.
- Vaxcyte is a clinical-stage vaccine innovation company engineering high-fidelity vaccines via the XpressCF cell-free protein synthesis platform [sec · filed 2026-04-23].
- VAX-31, a 31-valent pneumococcal conjugate vaccine, met all pre-specified primary immunogenicity endpoints in the pivotal Phase 3 OPUS-1 trial in adults [news · published 2026-10-06].
- As of June 30, 2026, the company reported cash & equivalents of $183.2M, net income of -$284.3M, and shareholders' equity of $2,757.9M [sec].
- In February 2026, Vaxcyte completed a public offering generating gross proceeds of $632.5 million [sec · filed 2026-04-23].
- The company has paused advancement of its VAX-GI program beyond preclinical development as of August 2025 [sec_mda · as of 2026-08-05].
What works
- VAX-31 met all primary immunogenicity endpoints in the pivotal Phase 3 OPUS-1 trial, a key milestone toward potential BLA submission [news · published 2026-10-06].
- The company has a strong cash position of $183.2M as of June 30, 2026, supplemented by a $632.5M public offering in February 2026 [sec] [sec · filed 2026-04-23].
- Vaxcyte has appointed experienced pharmaceutical leaders, including a former Pfizer Chief Medical Officer for Vaccines, to its executive team [news · published 2026-09-03].
What to weigh
- Vaxcyte has no approved products on the market and reported a net loss of -$284.3M for the six months ended June 30, 2026 [sec].
- The company paused advancement of its VAX-GI program beyond preclinical development, indicating pipeline prioritization risks [sec_mda · as of 2026-08-05].
- As a clinical-stage company, Vaxcyte is dependent on successful clinical outcomes and regulatory approvals for its lead candidate VAX-31 to generate revenue [sec_mda · as of 2026-08-05].
From the filings
Quoted directly from source documents.
VAX-31 met all primary endpoints in Phase 3 OPUS-1 trial
“Vaxcyte (NASDAQ:PCVX) said its investigational 31-valent pneumococcal conjugate vaccine, VAX-31, met all pre-specified primary immunogenicity endpoints in the pivotal Phase III OPUS-1 trial in adults.”
News · October 6, 2026
Company uses XpressCF cell-free protein synthesis platform
“We are re-engineering the way highly complex vaccines are made through the XpressCF ™ cell-free protein synthesis platform.”
SEC filings · April 23, 2026
VAX-GI program paused beyond preclinical development
“we announced in August 2025 that we had paused the advancement, beyond preclinical development, of VAX-GI”
SEC MD&A · August 5, 2026
Risks & what to watch (3)›
Key risks
- No approved products — Vaxcyte has no marketed products and relies solely on future approvals for revenue [sec_mda · as of 2026-08-05].
- Significant net loss — Net loss of -$284.3M for the six months ended June 30, 2026, reflecting high R&D spending [sec].
- Pipeline concentration — Heavy reliance on VAX-31 success; other programs like VAX-GI are paused [sec_mda · as of 2026-08-05].
What to watch
- Topline data from VAX-31 Phase 3 OPUS-1 trial expected by end of October 2026 [news · published 2026-09-03].
- Potential Biologics License Application submission to the FDA based on OPUS-1 results [news · published 2026-10-05].
- Progress of ongoing VAX-31 Phase 3 trials OPUS-2 and OPUS-3, which are fully enrolled [sec_mda · as of 2026-08-05].
- Advancement of VAX-XL, a third-generation PCV candidate announced in March 2025 [sec · filed 2026-04-23].
Sources: News · SEC filings · SEC MD&A · Generated October 12, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
Cash runway data unavailable
D/E 0.14 · 0% dilution
Lead: Phase 3
4 candidates
No upcoming catalysts tracked
0 buys · 33 sells (180d)
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
334
Total value held
$8.59B
| Holder | Shares | Value |
|---|---|---|
| janus henderson group plc | 16,575,875 | $960.2M |
| fmr llc | 16,492,861 | $958.4M |
| ra capital management, l.p. | 11,474,599 | $666.8M |
| blackrock, inc. | 10,971,816 | $637.6M |
| vanguard portfolio management llc | 6,279,545 | $364.9M |
| vanguard capital management llc | 6,266,701 | $364.2M |
| wellington management group llp | 5,614,597 | $326.3M |
| paradigm biocapital advisors lp | 4,793,020 | $278.5M |
| state street corp | 4,440,519 | $258.0M |
| deep track capital, lp | 4,300,000 | $249.9M |
Showing top 10 of 334 institutional holders of Vaxcyte, Inc.. Open the full 13F history after sign-in.
Short Interest
as of Apr 30, 2026- % of float
- 10.0%
- Days to cover
- 10.7
- Shares short
- 14,356,548
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
PCVX short interestGovernance
Frequently asked questions
What is the AI investment thesis for Vaxcyte, Inc.?
Vaxcyte (PCVX) is a clinical-stage vaccine innovation company using its XpressCF cell-free protein synthesis platform to develop high-fidelity vaccines, with its lead 31-valent pneumococcal conjugate vaccine (VAX-31) having recently met all primary endpoints in a pivotal Phase 3 adult trial.
What is Vaxcyte, Inc.'s lead drug candidate?
Vaxcyte, Inc.'s most advanced tracked candidate is vax-24 (Phase 2) for Pneumococcal Vaccines.
Who is the CEO of Vaxcyte, Inc.?
Mr. Grant E. Pickering M.B.A. is the chief executive officer of Vaxcyte, Inc. (PCVX).
Where is Vaxcyte, Inc. headquartered?
Vaxcyte, Inc. (PCVX) is headquartered in San Carlos, CA, United States.
What therapeutic areas does Vaxcyte, Inc. focus on?
Vaxcyte, Inc. develops therapies across Oncology, Immunology, Infectious Disease.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.