PCVXNasdaqBiological Products, (No Diagnostic Substances)US GAAP · USD

Vaxcyte, Inc.

Vaxcyte, Inc. is a U.S.-based biotechnology company developing protein-based vaccines, with a primary focus on pneumococcal conjugate vaccine candidates. Its pipeline also includes other preclinical vaccine programs built on a cell-free protein synthesis platform, and its work is centered on research, development, and outsourced manufacturing rather than internal commercial production.

Liikevoitto (EBIT)−924milj. USD
−62,2 %v/v
Nettotulos−767milj. USD
−65,2 %v/v
Vapaa kassavirta−669milj. USD
−40,9 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

−1 000−800−600−400−2000milj. USD2020: EBIT −90 milj. USD20202021: EBIT −104 milj. USD20212022: EBIT −232 milj. USD20222023: EBIT −468 milj. USD20232024: EBIT −570 milj. USD20242025: EBIT −924 milj. USD2025−924
LiikevaihtoLiikevoitto (EBIT)

Liiketoiminta

Osuus liikevaihdosta
Pneumococcal conjugate vaccines (PCVs)80 %

Conjugate vaccine candidates designed to prevent pneumococcal disease across adult and pediatric populations.

Other prophylactic vaccine candidates10 %

Preclinical vaccine programs targeting infectious diseases such as Group A Strep and Shigella.

Cell-free manufacturing platform10 %

Proprietary platform used to produce vaccine components and enable scalable conjugate vaccine manufacturing.

Asiakkaat

Vaxcyte does not sell commercial products today; its end customers are future vaccine purchasers such as healthcare systems, public health programs, and private providers if its candidates are approved. In the development phase, the company’s direct counterparties are research collaborators, contract manufacturers, clinical sites, and government-funded research partners that support advancement of the pipeline.

Future adult vaccine market

Would buy PCV products for adult immunization against pneumococcal disease if approved.

Future pediatric vaccine market

Would buy PCV products for infant and child immunization programs if approved.

Clinical development partners

CROs, clinical sites, and investigators that execute trials and generate data.

Manufacturing partners

CMOs such as Lonza and Thermo Fisher that supply drug substance, extract, and fill-finish.

Academic and government collaborators

Universities and NIH-supported partners that help advance early-stage programs.

Strategia

Vaxcyte’s strategy is to advance broad-spectrum pneumococcal vaccine candidates toward regulatory approval while building a scalable manufacturing path that can support launch. It is also extending its platform into additional infectious-disease programs, but near-term resources are concentrated on the PCV franchise and on securing outsourced production capacity and intellectual property control.

Advance PCV franchise to commercializationLyhyt aikaväli

PCV candidates are the core value driver and the most advanced programs.

Scale manufacturing and fill-finish capacityLyhyt aikaväli

Commercial viability depends on reliable, high-quality vaccine supply at scale.

Maintain platform and IP controlKeskipitkä aikaväli

Control over cell-free extract and conjugate methods supports differentiation and supply security.

Preserve optionality in non-PCV programsKeskipitkä aikaväli

Early-stage programs can expand the pipeline without distracting from the lead franchise.

Maantiede

Vaxcyte is headquartered in the United States and its development and manufacturing network is centered in the U.S. and Europe through third-party partners. The company’s commercial planning is oriented toward the U.S. first, while its vaccine programs are intended for global markets and rely on international manufacturing and supply relationships.

Riskit

Vaxcyte faces the typical risks of a clinical-stage biotech company: uncertain trial outcomes, regulatory delays, and the need for substantial external funding before any product revenue exists. Its business also depends heavily on third-party manufacturers and licensed technology, so supply interruptions, quality issues, or IP disputes could materially affect development and launch plans.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Clinical development failure or delay1Third-party manufacturing dependence2Funding and dilution risk3Regulatory and approval risk4Public perception of vaccines5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Clinical development failure or delayVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Lead candidates must show safety, tolerability, and efficacy before approval.

    KohdistuuVAX-31VAX-24VAX-XLVAX-A1VAX-GI
  2. Third-party manufacturing dependenceVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The company does not own commercial manufacturing facilities and relies on CMOs.

    KohdistuuLonzaThermo FisherSutro-related supply chain
  3. Funding and dilution riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Development and commercialization require substantial additional capital.

    Kohdistuu: Equity and other external financing

  4. Regulatory and approval riskVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Vaccine candidates may face delays or requests for additional data from agencies.

    Kohdistuu: U.S. and global vaccine approvals

  5. Public perception of vaccinesVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Negative sentiment can affect trial enrollment, adoption, and approval dynamics.

    Kohdistuu: Vaccine category broadly

Kirjanpito

Harkinnanvaraiset erät
Accrued research and development expenses

Clinical and manufacturing services are often billed after work is performed, requiring estimates.

Vaikutus: Can shift expenses between periods and affect comparability

Stock-based compensation

A meaningful non-cash expense for a development-stage biotech with equity-based pay.

Vaikutus: Affects operating loss and per-share metrics

Lease accounting

Lab and office leases create right-of-use assets and lease liabilities.

Vaikutus: Affects balance sheet leverage and operating expense presentation

Impairment of development-related assets and rights

Program pauses or setbacks can trigger write-down considerations.

Vaikutus: Could create non-cash charges if projects lose value

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

Päivitetty: 24.9.2026

Vaxcyte, Inc. (Nasdaq) – Biological Products, (No Diagnostic Subs | Analyysi – Clarifo