Vaxcyte Plans To Drop Developing One Pneumococcal Conjugate Vaccine
1. PCVX's VAX-24 vaccine showed strong immunogenicity in Phase 2 study. 2. The mid-dose of VAX-24 met key efficacy targets compared to Prevnar 20. 3. No serious adverse events were related to the study vaccines. 4. PCVX plans Phase 3 studies post-phase 2 results of VAX-31 in 2026. 5. PCVX shares dropped 29.5% in premarket trading after the announcement.