Vaxcyte Inc

For the period ended Mar 31, 2024. Filed May 8, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 8, 2024

PCVX$67.53+5.7%Stored close · as of Nov 9, 2026

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Contents

Condensed

Condensed Consolidated Statements of Operations

(in thousands, except share and per share data)

	Three Months EndedMarch 31,
	2024	2023
Operating expenses:
Research and development	$94,587	$58,080
General and administrative	19,885	13,112
Total operating expenses	114,472	71,192
Loss from operations	(114,472)	(71,192)
Other income (expense), net:
Interest income	21,666	10,393
Grant income	126	654
Realized gains on marketable securities	22	—
Foreign currency transaction losses	(2,362)	(317)
Total other income, net	19,452	10,730
Net loss	$(95,020)	$(60,462)
Net loss per share, basic and diluted	$(0.85)	$(0.70)
Weighted-average shares outstanding, basic and diluted	111,690,951	86,206,817

Condensed Consolidated Statements of Comprehensive Loss

(in thousands)

	Three Months EndedMarch 31,
	2024	2023
Net Loss	$(95,020)	$(60,462)
Other comprehensive loss:
Unrealized (losses) gains on investments	(1,999)	408
Foreign currency translation adjustments, net	4,709	—
Comprehensive loss	$(92,310)	$(60,054)

Condensed Consolidated Statements of Stockholders’ Equity

(in thousands, except share data)

Common Stock · Additional Paid-in Capital · Accumulated Deficit · Accumulated Other Comprehensive Gain (Loss) · Total Stockholders’ Equity
Shares · Amount
Balance — December 31, 2023	95,364,831	$98	$2,164,583	$(924,392)	$179	$1,240,468
Exercise of stock options	631,287	1	5,023	—	—	5,024
Issuance of common stock and pre-funded warrants in connection with follow-on public offering, net of commissions and offering expenses of $45,997	12,695,312	13	816,465	—	—	816,478
Release of restricted stock units	64,301	—	(3,306)	—	—	(3,306)
Stock-based compensation expense	—	—	17,629	—	—	17,629
Unrealized losses on investments	—	—	—	—	(1,999)	(1,999)
Foreign currency translation adjustments, net	—	—	—	—	4,709	4,709
Net loss	—	—	—	(95,020)	—	(95,020)
Balance — March 31, 2024	108,755,731	$112	$3,000,394	$(1,019,412)	$2,889	$1,983,983

Condensed Consolidated Statements of Stockholders’ Equity

(in thousands, except share data)

Common Stock · Additional Paid-in Capital · Accumulated Deficit · Accumulated OtherComprehensive Loss · Total Stockholders’ Equity
Shares · Amount
Balance — December 31, 2022	79,470,670	$82		$1,476,018		$(522,126)		$(361)		$953,613
Exercise of stock options	100,964	1		501		—		—		502
Vesting of early exercised stock options	—	—		2		—		—		2
Issuance of common stock in connection with at-the-market offering, net of issuance costs of $1,237	1,041,536	1		41,786		—		—		41,787
Release of restricted stock units	27,681		—		(727)		—		—		(727)
Stock-based compensation expense	—	—		9,648		—		—		9,648
Unrealized gains on investments	—	—		—		—		408		408
Net loss	—	—		—		(60,462)		—		(60,462)
Balance — March 31, 2023	80,640,851	$84		$1,527,228		$(582,588)		$47		$944,771

Condensed Consolidated Statements of Cash Flows

(in thousands)

	Three Months Ended
	March 31,
	2024	2023
Cash flows from operating activities:
Net loss	$(95,020)	$(60,462)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	999	712
Stock-based compensation expense	17,629	9,648
Amortization of operating lease right-of-use assets	2,092	1,630
Net accretion of discounts on investments	(10,991)	(5,990)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(4,958)	(4,702)
Other assets	(8,581)	615
Operating lease liabilities	(1,804)	(1,356)
Accounts payable	5,672	1,789
Accrued compensation	(7,968)	699
Accrued manufacturing expenses	(51,840)	6,689
Accrued expenses	(4,354)	3,038
Net cash used in operating activities	(159,124)	(47,690)
Cash flows from investing activities:
Purchases of property and equipment	(5,678)	(5,609)
Purchases of investments	(687,697)	(483,779)
Manufacturing facility and equipment construction-in-progress	(6,394)	—
Maturities of investments	242,318	40,160
Sale of investments	6,378	1,127
Net cash used in investing activities	(451,073)	(448,101)
Cash flows from financing activities:
Proceeds from exercise of common stock options	5,024	502
Proceeds from issuance of common stock related to at-the-market offering, net of issuance costs	—	41,787
Proceeds from issuance of common stock from follow-on offering, net of issuance costs	816,478	—
Release of restricted stock units	(3,306)	(727)
Net cash provided by financing activities	818,196	41,562
Effect of exchange rate changes on cash and cash equivalents	6,062	23
Net increase (decrease) in cash, cash equivalents and restricted cash	214,061	(454,206)
Cash, cash equivalents and restricted cash, beginning of period	398,554	835,528
Cash, cash equivalents and restricted cash, end of period	$612,615	$381,322
Supplemental disclosure of non-cash investing activities:
Purchases of property and equipment recorded in accounts payable and accrued expenses	$13,719	$57

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.