aibioVaxcyte PCVX convertible notes news
Top story · Oct 9, 2026 · aibio.space
Vaxcyte raises about $1.1 billion in stock and convertible notes after phase 3 win
The company sold shares at $64 and $575 million of 1.50% notes due 2032, adding to $2.5 billion it held at the end of June.
- Ticker
- PCVX
- Listing
- NASDAQ, United States
- Next date
- First half of 2027
- Chief executive
- Grant Pickering (CEO and co-founder)
Desk view · Opinion · Updated Oct 22, 2026
Vaxcyte won its phase 3. Now it has to win the market
OPUS-1 gave Vaxcyte the phase 3 proof its platform needed, and the October raise funds it well past the planned 2028 filing. What remains is a long, expensive march to market against Pfizer and Merck. The serotype 3 and 12F gaps are the detail most likely to matter in that contest.
Read the full desk viewaibio.space Investor Rank · Opinion
9/10 Most positive view
VAX-31 met every primary endpoint in phase 3 and cash is very strong after the October raise; a 2028 filing and Pfizer and Merck competition lie ahead.
- Technology
- 2/2
- Odds
- 2/2
- Balance sheet
- 2/2
- Risk
- 1/2
- Momentum
- 2/2
Opinion only. The Investor Rank is aibio.space's opinion of the company's business position, drawn from the public sources on this page. It is not a recommendation to buy, sell or hold any security and it is not investment advice. It does not consider the share price, valuation or your circumstances, and it can change at any time. Payments from companies never affect it. How the rank works.
- Technology
- Validated in phase 3. VAX-31 met every prespecified primary endpoint against Prevnar 20 and Capvaxive in 4,047 adults.
- Odds
- High, with a label question. Two descriptive phase 3s remain before a 2028 BLA; serotypes 3 and 12F trailed Capvaxive.
- Balance sheet
- Very strong. $2.5 billion at June 30 plus about $1.1 billion raised in October, against $513.1 million of first-half cash burn.
- Main risk
- Commercial fight. Vaxcyte must win recommendations and share from Pfizer and Merck in a market it sizes at $8.5 billion.
- Watch next
- More phase 3 data. OPUS-2, OPUS-3 and infant phase 2 results are due in the first half of 2027.
Top news on Vaxcyte
- Financings
Vaxcyte raises about $1.1 billion in stock and convertible notes after phase 3 win
The company sold shares at $64 and $575 million of 1.50% notes due 2032, adding to $2.5 billion it held at the end of June.
- Debt Financing
Vaxcyte offers $500,000,000 of 1.50% convertible notes due 2032
Vaxcyte is selling common stock and pre-funded warrants alongside $500,000,000 of convertible senior notes due 2032, a day after reporting Phase 3 data for VAX-31.
Questions investors ask
What is aibio.space's Investor Rank for Vaxcyte?
9 out of 10, our most positive view. VAX-31 met every primary endpoint in phase 3 and cash is very strong after the October raise; a 2028 filing and Pfizer and Merck competition lie ahead. This is opinion only, not a recommendation to buy, sell or hold, and it does not consider the share price or valuation. Source
What were Vaxcyte's OPUS-1 results?
On October 5, 2026, Vaxcyte said VAX-31 met all prespecified primary endpoints against Prevnar 20 and Capvaxive in 4,047 adults. Against Capvaxive alone, serotypes 3 and 12F missed the stricter noninferiority threshold but met the historical one. Source
When will Vaxcyte file for approval of VAX-31?
Vaxcyte plans to submit a Biologics License Application in the first half of 2028. OPUS-2 and OPUS-3 results come first, in the first half of 2027, followed by a manufacturing consistency study. Source
How much cash does Vaxcyte have?
Vaxcyte had $2,507.7 million in cash, cash equivalents and investments at June 30, 2026. In October it raised about $544.3 million in net equity proceeds and $558.7 million in convertible notes. Source
Who is Vaxcyte's CEO?
Grant Pickering is Vaxcyte's chief executive officer and co-founder. In September 2026 the company hired Luis Jodar, formerly of Pfizer, as chief medical officer. Source
What is VAX-A1?
VAX-A1 is Vaxcyte's vaccine candidate for Group A Streptococcus, for which no vaccine is approved. A phase 1 trial in about 80 healthy adults in Australia began in June 2026, with data expected in the second half of 2027. Source
What is the latest Vaxcyte (PCVX) stock news?
Our latest story on Vaxcyte, dated Oct 9, 2026: "Vaxcyte raises about $1.1 billion in stock and convertible notes after phase 3 win". The company sold shares at $64 and $575 million of 1.50% notes due 2032, adding to $2.5 billion it held at the end of June. Source
What is Vaxcyte's latest stock offering or financing news?
Our latest financing story, dated Oct 9, 2026: "Vaxcyte raises about $1.1 billion in stock and convertible notes after phase 3 win". The company sold shares at $64 and $575 million of 1.50% notes due 2032, adding to $2.5 billion it held at the end of June. Source
Who were the underwriters or placement agents on Vaxcyte's offering?
From our story: Vaxcyte sold 7,412,500 shares at $64.00 each and pre-funded warrants for 400,000 shares at $63.999, through underwriters led by Jefferies and Leerink Partners. Source
Does Vaxcyte have debt, a term loan or convertible notes?
Our latest debt story, dated Oct 6, 2026: "Vaxcyte offers $500,000,000 of 1.50% convertible notes due 2032". Vaxcyte is selling common stock and pre-funded warrants alongside $500,000,000 of convertible senior notes due 2032, a day after reporting Phase 3 data for VAX-31. Source
What is Vaxcyte's market cap?
We do not publish live share prices. In its annual report, Vaxcyte, Inc. put the market value of shares held by non-affiliates (public float) at $3.70 billion as of Jun 30, 2025. Source
Is Vaxcyte a smaller reporting company?
SEC records list Vaxcyte, Inc.'s filer category as: Large accelerated filer. Source
Where is Vaxcyte headquartered?
SEC records list its business address as 825 INDUSTRIAL ROAD, STE. 300, SAN CARLOS, CA, 94070. Source
When does Vaxcyte's fiscal year end?
Vaxcyte, Inc.'s fiscal year ends on December 31, per SEC records. Source
What did Vaxcyte last file with the SEC?
Its most recent filing in our record is an 8-K filed 2026-10-09. All of its filings are on SEC EDGAR. Source
Legal and investor matters
The Commitments and Contingencies note in the 10-Q filed 2026-08-05 states: "We do not believe that there is any litigation or asserted or unasserted claim pending that could, individually or in the aggregate, have a material adverse effect on our results of operations or financial condition." Source
- Financing
Vaxcyte sells $575 million of convertible notes and 7.4 million shares at $64.00
Vaxcyte closed on 2026-10-09 the sale of $575,000,000 of 1.50% Convertible Senior Notes due 2032. On 2026-10-06 it also agreed to a concurrent equity offering of 7,412,500 shares of common stock at $64.00 per share plus pre-funded warrants for 400,000 shares. The equity underwriters exercised in full their option for 1,171,875 additional shares on 2026-10-07.
- Governance
Vaxcyte director Heath Lukatch retires from the board
Vaxcyte reported that director Heath Lukatch notified the board on 2026-07-13 of his retirement, effective 2026-07-16. The company stated that the retirement was not the result of any disagreement or dispute with the company. A similar notice in June 2026 reported that director Jacks Lee retired from the board effective 2026-06-17, also not due to any disagreement.
- Financing
Vaxcyte prices offering of 11 million shares at $50.00
Vaxcyte entered an underwriting agreement on 2026-01-29 to sell 11,000,000 shares of common stock at $50.00 per share. On 2026-01-30 the underwriters said they would exercise their 30-day option for 1,650,000 additional shares in full. Net proceeds including the option were approximately $600.2 million, and the offering closed on 2026-02-02.
Pipeline
| Program | Indication | Stage |
|---|---|---|
| VAX-31 (31-valent PCV) | Adults: prevention of invasive pneumococcal disease and pneumococcal pneumonia | Phase 3; OPUS-1 met all primary endpoints Oct. 2026; OPUS-2 and OPUS-3 data 1H 2027; BLA planned 1H 2028 Source |
| VAX-31 (31-valent PCV) | Infants | Phase 2 dose-finding; data by end of 1H 2027 Source |
| VAX-A1 | Group A Streptococcus disease | Phase 1 (first participant dosed June 2026); data 2H 2027 Source |
| VAX-XL | Next-generation pneumococcal vaccine | Preclinical Source |
Stock chart
SEC filings and registration
- SEC name
- Vaxcyte, Inc.
- CIK
- 1649094
- Industry (SIC)
- Biological Products, (No Diagnostic Substances) (2836)
- US tickers
- PCVX (Nasdaq)
- State or country of incorporation
- DE
- Fiscal year ends
- December 31
- Filer category
- Large accelerated filer
- Business address
- 825 INDUSTRIAL ROAD, STE. 300, SAN CARLOS, CA, 94070
- Phone
- 650-837-0111
- Shares outstanding
- 148,805,278 as of 2026-08-03 (10-Q filed 2026-08-05)
- Former names
- SutroVax, Inc.
Recent filings
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