Monitor upcoming clinical data readouts: topline data from OPUS-1 expected in Q4 2026, and OPUS-2/OPUS-3 data expected in first half of 2027. The strong cash position provides runway for clinical development, but continued losses are expected until potential commercialization.
Price Chart
Executive Summary
Vaxcyte reported its 2025 financial results, showing increased R&D and operating expenses leading to a larger net loss, while maintaining a strong cash position of $2.44 billion. The company highlighted clinical progress on its VAX-31 vaccine program, including initiation of three Phase 3 trials and completion of enrollment in an infant Phase 2 study, along with a recent $632.5 million equity offering that strengthens its balance sheet.
Key Financial Metrics
Key Facts
- Cash, cash equivalents and investments were $2.44 billion as of December 31, 2025, down from $3.13 billion in 2024
- Completed $632.5 million equity offering in February 2026
- Net loss was $766.6 million for 2025, compared to $463.9 million in 2024
- Research and development expenses were $794.3 million for 2025, up from $476.6 million in 2024
- Initiated three Phase 3 trials for VAX-31 (OPUS-1, OPUS-2, OPUS-3)
- Completed enrollment in VAX-31 infant Phase 2 dose-finding study with 900 infants
- No revenue or earnings guidance provided
Financial Impact
Increased R&D spending by $317.7 million year-over-year to $794.3 million, resulting in net loss expanding by $302.7 million to $766.6 million
Risk Factors
- Clinical trial setbacks could impact valuation
- Continued significant cash burn from R&D investments
- No revenue generation expected for several years as company remains pre-commercial
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001649094-26-000005 |
| Document: pcvx-20260224.htm | 0001649094-26-000005 |
| Document: 0001649094-26-000005-index-headers.html | 0001649094-26-000005 |
| Document: 0001649094-26-000005-index.html | 0001649094-26-000005 |
| Document: 0001649094-26-000005.txt | 0001649094-26-000005 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 5, 2026 8w ago | Insider Cluster | $55.92 $61.58 | ▲ +10.12% | ▲ +10.72% | $56.69 (+1.38%) |
Jul 6, 2026 12w ago | Insider Cluster | $60.67 $53.53 | ▼ −11.77% | ▼ −13.10% | $56.69 (−6.56%) |
Jul 6, 2026 12w ago | Insider Cluster | $60.67 $53.53 | ▼ −11.77% | ▼ −13.10% | $56.69 (−6.56%) |
Jun 26, 2026 13w ago | 144 | $57.72 $54.66 | ▼ −5.30% | ▼ −5.02% | $56.69 (−1.78%) |
Jun 23, 2026 14w ago | 8-K | $53.87 $56.00 | ▲ +3.95% | ▲ +2.02% | $56.69 (+5.23%) |
Jun 19, 2026 15w ago | Insider Cluster | $52.11 $56.20 | ▲ +7.85% | ▲ +8.00% | $56.69 (+8.79%) |
Jun 2, 2026 17w ago | Press Release | $46.93 $58.39 | ▲ +24.42% | ▲ +25.42% | $56.69 (+20.80%) |
May 6, 2026 21w ago | 8-K | $51.48 $46.93 | ▲ +8.84% | ▲ +11.97% | $56.69 (−10.12%) |
Apr 23, 2026 23w ago | DEFA14A | $59.49 $47.39 | ▼ −20.34% | ▼ −24.37% | $56.69 (−4.71%) |
Apr 1, 2026 26w ago | Insider Cluster | $58.50 $57.32 | ▼ −2.02% | ▼ −11.74% | $56.69 (−3.09%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access