Vaxcyte, Inc. Files Q3 2024 10-Q Report

TL;DR

Vaxcyte's Q3 10-Q is in - check financials and ops updates.

AI Summary

Vaxcyte, Inc. filed its 10-Q for the period ending September 30, 2024. The company reported its financial results and provided updates on its business operations. Key financial figures and operational highlights are detailed within the filing.

Why It Matters

This filing provides investors with crucial financial and operational data for Vaxcyte, Inc. for the third quarter of 2024, enabling informed investment decisions.

Risk Assessment

Risk Level: medium — As a biotechnology company, Vaxcyte faces inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter for which financial information is reported.)
• 2024-11-05 — Filing Date (The date the 10-Q report was officially submitted to the SEC.)
• 2023-12-31 — Prior Year End Date (Provides a comparison point for financial performance from the previous fiscal year.)

Key Players & Entities

• Vaxcyte, Inc. (company) — Filer of the 10-Q report
• 20240930 (date) — End of the reporting period
• 20241105 (date) — Filing date
• SutroVax, Inc. (company) — Former company name

FAQ

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share PCVX The Nasdaq Sto

Filing Documents

• pcvx-20240930.htm (10-Q) — 1743KB
• pcvx-20240930x10qxexx311.htm (EX-31.1) — 10KB
• pcvx-20240930x10qxexx312.htm (EX-31.2) — 10KB
• pcvx-20240930x10qxexx321.htm (EX-32.1) — 7KB
• 0001649094-24-000097.txt ( ) — 7702KB
• pcvx-20240930.xsd (EX-101.SCH) — 60KB
• pcvx-20240930_cal.xml (EX-101.CAL) — 77KB
• pcvx-20240930_def.xml (EX-101.DEF) — 237KB
• pcvx-20240930_lab.xml (EX-101.LAB) — 676KB
• pcvx-20240930_pre.xml (EX-101.PRE) — 466KB
• pcvx-20240930_htm.xml (XML) — 972KB

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 46 Item 4.

Controls and Procedures

Controls and Procedures 48 PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 49 Item 1A.

Risk Factors

Risk Factors 49 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 92 Item 3. Defaults Upon Senior Securities 92 Item 4. Mine Safety Disclosures 92 Item 5. Other Information 92 Item 6. Exhibits 94

Signatures

Signatures 96 Unless the context otherwise requires, all references in this Quarterly Report on Form 10-Q to "we," "us," "our," "our company" and "Vaxcyte" refer to Vaxcyte, Inc. and its wholly owned consolidated subsidiary. "Vaxcyte," "eCRM," and other trademarks of ours appearing in this report are our property. This report contains additional trade names and trademarks of other companies. We do not intend our use or display of other companies' trade names or trademarks to imply an endorsement or sponsorship of us by such companies, or any relationship with any of these companies. i Table of Contents Special Note Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Quarterly Report on Form 10-Q, including statements regarding our future results of operations or financial condition, business strategy and plans and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "seek," "should," "target," "will," or "would," or the negative of these words or other similar terms or expressions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements about: our expectations regarding the potential benefits, spectrum of coverage and immunogenicity of our vaccine candidates; our expectations regarding our preclinical study results and prior clinical study results potentially being predictive of future clinical study results; the timing of the initiation, progress and potential results of our preclinical studies, clinical trials and our research

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements VAXCYTE, INC. Condensed Consolidated Balance Sheets (in thousands, except share and per share data) (unaudited) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 1,050,189 $ 397,451 Short-term investments 1,130,276 682,776 Prepaid expenses and other current assets 33,400 15,727 Total current assets 2,213,865 1,095,954 Property and equipment, net 163,243 79,626 Operating lease right-of-use assets 28,700 30,997 Long-term investments 1,092,574 162,675 Restricted cash 1,318 1,103 Other assets 60,046 37,562 Total noncurrent assets 1,345,881 311,963 Total assets $ 3,559,746 $ 1,407,917 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 18,219 $ 14,587 Accrued compensation 12,244 11,056 Accrued manufacturing expenses 52,937 52,767 Accrued expenses 30,753 59,815 Operating lease liabilities — current 9,637 7,113 Total current liabilities 123,790 145,338 Operating lease liabilities — long-term 18,322 22,111 Total liabilities 142,112 167,449 Commitments and contingencies (Note 7) Stockholders' Equity Preferred stock, $ 0.001 par value — 10,000,000 shares authorized at September 30, 2024 and December 31, 2023; no shares issued and outstanding at September 30, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value — 500,000,000 shares authorized at September 30, 2024 and December 31, 2023; 124,429,862 and 95,364,831 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively 127 98 Additional paid-in capital 4,668,607 2,164,583 Accumulated other comprehensive gain 139 179 Accumulated deficit ( 1,251,239 ) ( 924,392 ) Total stockholders' equity 3,417,634 1,240,468 Total liabilities and stockholders' equity $ 3,559,746 $ 1,407,917 The accompanying notes are an integral part of these unaudited condensed consolidated financial statements. 1 Table of Contents VAXCYTE, INC. Condensed

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View this 10-Q filing on SEC EDGAR