Vaxcyte announces proposed public offerings of stock, warrants and convertible notes
PCVX•Vaxcyte commenced proposed offerings of $500 million of common stock and $500 million of convertible senior notes. It said proceeds would support VAX-31 clinical development, manufacturing scale-up and potential launches, and U.S. launch-related medical affairs and commercial investments.
1. Proposed offerings
Vaxcyte commenced proposed public offerings of common stock, pre-funded warrants and convertible senior notes, including a $500 million common stock offering and a $500 million convertible notes offering.
2. Planned use of proceeds
The company said proceeds would fund clinical development of its VAX-31 adult and pediatric programs, support manufacturing scale-up and potential PCV program launches, and cover medical affairs and commercial investments for a potential U.S. VAX-31 launch.
