PCVX Stock — Vaxcyte Inc.: Cash, EV, Pipeline

What they do

We are a clinical-stage vaccine innovation company engineering high-fidelity vaccines to protect humankind from the consequences of bacterial diseases. We are re-engineering the way highly complex vaccines are made through the XpressCF™ cell-free protein synthesis platform.

Source: 10-K FY2025 via SEC EDGAR

Share price

$67.71

Market cap

$10,672.5M

Cash

$1,292.2M

Enterprise value

$9,380.3M

Balance sheet

Cash	$1,292.2M
Debt	$0.0M
Net cash	$1,292.2M
Enterprise value	$9,380.3M
Basic shares	158.3M shares
Fully diluted shares	169.4M shares
Fully diluted market cap	$11,470.1M
Cash per share	$8.16
Quarterly burn	$232.5M
Cash runway	5.6 quarters

Cash figures as of 2026-09-30. Database snapshot: 2026-11-10.

Share structure

Common

148.8M

Pre-funded warrants

5.5M

Options

12.1M

RSUs

3.0M

Warrants

0.0M

Converts

0.0M

Conv preferred

0.0M

ESPP reserve

—

FDSO

169.4M

Cap table as of 2026-06-30.

Price history

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Next catalyst

PCV20 · Apr 12 - May 24 in 5 mo · Phase 3 · Pneumococcal Vaccines

Recently reported

31-valent pneumococcal conjugate vaccine Phase 3 Positive · 2026-10-05

OPUS-1 · pneumococcal vaccines

Source release →

Upcoming catalysts

Expected	Drug	Phase	Indication	Mgmt guide
Apr 12 - May 24 in 5 mo	PCV20	Phase 3	Pneumococcal Vaccines	H1 2027 Est. Apr 1, 2027 · half midpoint by end of October 2026
Jan 12 - Feb 23 in 14 mo	0.5 mL of the low dose VAX-31	Phase 2	Pneumococcal Vaccines	—
Jan 12 - Feb 23 in 14 mo	VAX-A1 Low	Phase 1	Group A Streptococcal Infection	—

Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.

Full readout calendar →

Pipeline assets

VAX-31

Phase 3 · Active Modality: pneumococcal conjugate vaccine

Target S. pneumoniae (31 serotypes)

Partnerships Lonza (preferred, non-exclusive manufacturing supplier; commercial suite handed over August 2026)

Indications

invasive pneumococcal disease and pneumonia in adults 50 and older (OPUS-1/OPUS-2/OPUS-3) (Stage not disclosed)
invasive pneumococcal disease in infants (Phase 2) (Stage not disclosed)

Catalysts

— None
— None
— None
— None

Status note 31-valent, broad-spectrum, carrier-sparing PCV. FDA Breakthrough Therapy designation for prevention of IPD in adults (expanded August 2025 to include pneumonia). Adult OPUS-1/2/3 fully enrolled (6,191 adults dosed). Pending infant Phase 2 readout, Phase 3 infant program planned with Optimized Dose of VAX-24 or VAX-31.

VAX-24

Phase 2 · Active Modality: pneumococcal conjugate vaccine

Target S. pneumoniae (24 serotypes)

Indications

invasive pneumococcal disease in infants (Stage not disclosed)

Status note 24-valent, broad-spectrum, carrier-sparing PCV. Infant Phase 2 final data announced November 2025; Phase 3 infant program under consideration alongside VAX-31.

VAX-A1

Phase 1 · Active Modality: conjugate vaccine

Target polyrhamnose (Group A Strep)

Indications

Group A Streptococcus disease (Stage not disclosed)

Catalysts

— None

Status note Novel conjugate vaccine for Group A Strep; preclinical proof of concept published December 2020. Phase 1 adult study initiated June 2026.

Per-asset detail extracted from the 10-Q filed 2026-08-05. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	31-valent pneumococcal conjugate vaccine
Lead indication	Pneumococcal Disease
Lead phase	Phase 3
Active trials	5

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07284654	Phase 3	Active, not recruiting	Sponsor	PCVX	—	Pneumococcal Vaccines	H1 2027 Est. Apr 1, 2027 · half midpoint by end of October 2026
NCT07365826	Phase 3	Active, not recruiting	Sponsor	PCVX	—	Pneumococcal Vaccines	H1 2027 Est. Apr 1, 2027 · half midpoint by end of October 2026
NCT07425392	Phase 3	Active, not recruiting	Sponsor	PCVX	—	Pneumococcal Vaccines	H1 2027 Est. Apr 1, 2027 · half midpoint by end of October 2026
NCT06720038	Phase 2	Active, not recruiting	Sponsor	PCVX	—	Pneumococcal Vaccines	—
NCT07616934	Phase 1	Recruiting	Sponsor	PCVX	—	Group A Streptococcal Infection	—

Sponsor-matched active trials from ClinicalTrials.gov (5 as sponsor, 0 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 5 active trials for Vaxcyte, Inc. on ClinicalTrials.gov

Specialist fund holders

Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.

Fund	Shares	Q/Q change	% of portfolio	Filing
RA Capital Management	11,474,599	no change	5.80%	2026-08-14
Ikarian Capital	388,682	-40,000	3.70%	2026-08-14
Boxer Capital	325,000	no change	1.42%	2026-08-14
ADAR1 Capital Management	146,034	-113,103	0.40%	2026-08-14
Cormorant Asset Management	50,000	-50,000	0.15%	2026-08-14
Logos Global Management	0	-300,000	0.00%	2026-08-14

Specialist-fund positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

Latest news

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PCVX — Vaxcyte Inc. ☆

What they do

Balance sheet

Share structure

Price history

Next catalyst

Recently reported

Upcoming catalysts

Pipeline assets

Pipeline

Active clinical trials

Specialist fund holders

Latest news

PCVX — Vaxcyte Inc.