What was the cause?
PCVX Stock Price : The shares of Vaxcyte ( PCVX -7.10 percent), a clinical-stage vaccine company, rose 110.70 percent in the past week in accordance with data provided by S&P Global Intelligence. The stock ended the week with $20.58. The stock then opened significantly higher on Monday with $35.15 and then climbed to a 52-week, weekly and weekly highest at $43.65 on Friday, and then closed on the same level at $43.36. The price is up by more than 82% in the last year.
So , what’s next?
The increase was due to the release of information from a clinical trial of the vaccine for pneumonia VAX-24 that has the Quick Track approval by the Food and Drug Administration. In reality, the stock jumped Monday due to the fact that on Monday, VAX-24 stated that it would announce results from a trial of the vaccine.
On Monday, the company continued, saying that VAX-24’s Phase 1/2 trial of healthy adults aged 18-64 fulfilled its main safety and tolerability goals and is similar with the Pfizer‘s Prevnar 20. The vaccine could be a top-of-the-line pneumonia vaccine.
The vaccine is referred to as VAX-24 due to its role as 24 vaccinations against the bacteria that cause pneumonia. As per the American Lung Association, pneumonia is the cause of more than one million admissions to hospitals, and more than 50k deaths per annually in the U.S., while the World Health Organization says it is the most common causes of death among children across the globe.
What do we do now?
Vaxcyte has an extensive road ahead before its lead vaccine is ready to be released to the market. It is a medical company needs to complete its phase 2 clinical trial in which Vaxcyte claimed would require six months to complete the monitoring. In addition, the company has several other vaccines being developed for periodontitis, strep (gum disease) and a second pneumonia vaccine called Valent PCV. According to a report from Allied Market Data, the global market for vaccines stood at $38.061 billion by 2021. This is predicted to grow to $72.129 billion industry by the year 2031. an annual compound growth rate of 6.6 percent between 2022 to 2031.
Vaxcyte has lots of people who are excited and took advantage of the opportunity to make $690m via an equity sale. The cash will be useful at the end of June the company announced it had $361.4 million cash was just enough to cover the costs of operations for the next two years.
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