Vaxcyte Stock Soars After Pneumonia Vaccine Meets Late-Stage Trial Goals
Vaxcyte (PCVX) shares jumped over 60% as its experimental pneumococcal vaccine successfully met the primary endpoints in a pivotal late-stage trial for adult use. This success positions the biotech to compete with established players like Pfizer and Merck in the multibillion-dollar vaccine market.
Shares of Vaxcyte (PCVX) jumped more than 60% on Monday after the company said its experimental 31-strain pneumococcal vaccine met the main goals of a pivotal late-stage trial in adults, leaving the biotech on a clearer path to challenge Pfizer and Merck in a multibillion-dollar market.