Vaxcyte dips after commencing $500 mln stock offering
29/01/2026 21:45
** Pneumococcal vaccine developer Vaxcyte PCVX.O shares down 2.1% at $51.69 post-market after planned equity raise news ** San Carlos, California-based co commences $500 mln offering consisting of stock and pre-funded warrants ** Co intends to use net offering proceeds to fund clinical development of the VAX-31 adult and pediatric programs, including ongoing VAX-31 adult Phase 3 program, among other purposes, per the offering prospectus ** BofA, Jefferies, Leerink Partners, Evercore and Guggenheim joint bookrunners ** With ~130.9 mln shares outstanding, co has about $6.9 bln market cap ** PCVX shares on Thurs closed up 2.8% at $52.82. Stock up ~14% to begin the year after 44% drop in 2025 ** 9 of 10 analysts rate the stock "strong buy" or "buy", 1 "hold"; median PT of $110 up from $90 a month ago, per LSEG (Lance Tupper is a Reuters market analyst. The views expressed are his own) ((lance.tupper@tr.com 1-646-279-6380))