Monitor future 8-K filings for announcements of actual sales under this ATM program, which will disclose the number of shares sold, sale price, and net proceeds. The timing and volume of any sales will signal management's view on the current stock valuation and funding needs.
Price Chart
Executive Summary
Vaxcyte entered into an at-the-market (ATM) sales agreement with Leerink Partners LLC to sell up to $500 million in common stock. The company also terminated its prior ATM agreement with Jefferies LLC, under which it had raised approximately $270.3 million. This new facility provides Vaxcyte with ongoing access to capital markets, subject to market conditions and its discretion on timing and size of offerings.
Key Facts
- Vaxcyte entered into a new sales agreement with Leerink Partners LLC for an at-the-market equity offering program.
- The maximum aggregate offering amount under the new agreement is $500,000,000.
- The shares are registered under an existing shelf registration statement (Form S-3) that became effective on May 24, 2024.
- Leerink Partners will act as sales agent and receive a commission of up to 3.00% of the gross proceeds.
- Vaxcyte is not obligated to sell any shares, and Leerink is not obligated to buy or sell any shares.
- The company terminated its prior Open Market Sale Agreement with Jefferies LLC, under which it had sold shares with an aggregate offering price of approximately $270.3 million.
Financial Impact
Up to $500 million in potential gross proceeds, with a 3% agent commission. No immediate financial impact as sales are discretionary and will occur over time.
Risk Factors
- Equity dilution for existing shareholders if shares are sold.
- Potential downward pressure on the stock price if sales occur during periods of weak market conditions or low trading volume.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-067546 |
| Document: d259722d8k.htm | 0001193125-26-067546 |
| Document: d259722dex51.htm | 0001193125-26-067546 |
| Document: 0001193125-26-067546-index-headers.html | 0001193125-26-067546 |
| Document: 0001193125-26-067546-index.html | 0001193125-26-067546 |
| Document: 0001193125-26-067546.txt | 0001193125-26-067546 |
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| 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%) |
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