Vaxcyte Q2 net loss widens on higher expenses
Vaxcyte Q2 net loss widens on higher expenses
Overview
U.S. vaccine developer's Q2 net loss widened yr/yr but beat analyst expectations
Operating expenses rose due to increased R&D and manufacturing costs for PCV programs
Company ended Q2 with $2.5 bln in cash, supporting ongoing clinical trials
Outlook
Vaxcyte expects OPUS-1 Phase 3 adult trial topline data in Q4 2026
Company expects OPUS-2 and OPUS-3 Phase 3 results in H1 2027
Vaxcyte expects VAX-31 infant Phase 2 study data by end of H1 2027
Result Drivers
PCV PROGRAM COSTS - Higher development and manufacturing costs for PCV programs drove increased operating expenses, per CFO Andrew Guggenhime
PIPELINE ADVANCEMENT - Initiation of VAX-A1 Phase 1 study and ongoing development of early-stage vaccine candidates contributed to expense growth
Company press release: ID:nGNX7jf3v7
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Net Loss | Beat | $284.3 mln | $298.28 mln (8 Analysts) |
Q2 Operating Expenses |
| $302.78 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 $110.00, about 101.1% above its August 4 closing price of $54.69
Reuters Recommended Reads
Aug 4 - BioNTech lowers 2026 sales outlook as COVID vaccine demand softens
Aug 4 - Pfizer beats earnings estimates, targets $2.5 billion in additional cost cuts
Aug 4 - Moderna begins first human trial of Bundibugyo Ebola vaccine
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.)