Vaxcyte Inc PCVX shares are trading higher Monday after the company announced positive topline results from the Phase 1/2 clinical proof-of-concept study evaluating the safety, tolerability and immunogenicity of VAX-24.
VAX-24 is the company's investigational 24-valent pneumococcal conjugate vaccine. In the study, VAX-24 met the primary safety and tolerability objectives, demonstrating a safety profile similar to Prevnar 20 for all doses studied.
"The study results demonstrate that VAX-24 has the potential to provide broader coverage and better immune responses relative to the standard-of-care. We believe this presents an opportunity to set a new bar for immunogenicity standards for pneumococcal vaccines," said Grant Pickering, co-founder and CEO of Vaxcyte.
Vaxcyte is a vaccine innovation company engineering high-fidelity vaccines to protect humankind from the consequences of bacterial diseases.
PCVX Price Action: Vaxcyte is making new 52-week highs on Monday.
The stock was up 77.4% at $36.50 at time of publication, according to Benzinga Pro.
Photo: Konstantin Kolosov from Pixabay.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.