Vaxcyte Inc

For the period ended Mar 31, 2025. Filed May 7, 2025.

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, 2025 · Filed May 7, 2025

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,
	2025	2024
Operating expenses:
Research and development	$148,134	$94,587
General and administrative	32,659	19,885
Total operating expenses	180,793	114,472
Loss from operations	(180,793)	(114,472)
Other income, net:
Interest income	32,935	21,666
Other income (expense)	7,140	(2,214)
Total other income, net	40,075	19,452
Net loss	$(140,718)	$(95,020)
Net loss per share, basic and diluted	$(1.04)	$(0.85)
Weighted-average shares outstanding, basic and diluted	135,690,949	111,690,951

Condensed Consolidated Statements of Comprehensive Loss

(in thousands)

	Three Months EndedMarch 31,
	2025	2024
Net Loss	$(140,718)	$(95,020)
Other comprehensive loss:
Unrealized gains (losses) on investments, net	4,634	(1,999)
Foreign currency translation adjustments, net	(1,083)	4,709
Comprehensive loss	$(137,167)	$(92,310)

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, 2024	124,893,034		$128		$4,697,883		$(1,388,319)		$(3,873)		$3,305,819
Issuance of common stock in connection with employee incentive plans	546,419	1		6,048		—		—		6,049
Issuance of common stock and pre-funded warrants in connection with follow-on public offering	3,499,959	3		(3)		—		—		—
Taxes paid related to the net share settlement of equity awards	—	—		(5,290)		—		—		(5,290)
Stock-based compensation expense	—	—		30,615		—		—		30,615
Other comprehensive gain	—	—		—		—		3,551		3,551
Net loss	—	—		—		(140,718)		—		(140,718)
Balance — March 31, 2025	128,939,412	$132		$4,729,253		$(1,529,037)		$(322)		$3,200,026

Condensed Consolidated Statements of Stockholders’ Equity

(in thousands, except share data)

Common Stock · Additional Paid-in Capital · Accumulated Deficit · Accumulated OtherComprehensive Gain · Total Stockholders’ Equity
Shares · Amount
Balance — December 31, 2023	95,364,831	$98	$2,164,583	$(924,392)	$179	$1,240,468
Issuance of common stock in connection with employee incentive plans	695,588	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
Taxes paid related to the net share settlement of equity awards	—	—	(3,306)	—	—	(3,306)
Stock-based compensation expense	—	—	17,629	—	—	17,629
Other comprehensive gain	—	—	—	—	2,710	2,710
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 Cash Flows

(in thousands)

	Three Months Ended March 31,
	2025	2024
Cash flows from operating activities:
Net loss	$(140,718)	$(95,020)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,956	999
Stock-based compensation expense	30,615	17,629
Amortization of operating lease right-of-use assets	1,918	2,092
Net accretion of discounts on investments	(4,913)	(10,991)
Unrealized foreign exchange loss	(6,617)	—
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(1,499)	(4,958)
Operating lease right-of-use assets	(17,575)	—
Other assets	(6,554)	(8,581)
Operating lease liabilities	15,999	(1,804)
Accounts payable	(29,163)	5,672
Accrued compensation	(14,418)	(7,968)
Accrued contract manufacturing expenses	8,088	(51,840)
Accrued expenses	(4,393)	(4,354)
Net cash used in operating activities	(166,274)	(159,124)
Cash flows from investing activities:
Purchases of property and equipment	(5,424)	(5,678)
Purchases of manufacturing facility build-out and equipment construction-in-progress	(21,327)	(6,394)
Purchases of investments	(314,485)	(687,697)
Maturities of investments	438,488	242,318
Sales of investments	26,065	6,378
Net cash provided (used) in investing activities	123,317	(451,073)
Cash flows from financing activities:
Proceeds from exercise of common stock options	6,049	5,024
Proceeds from issuance of common stock from follow-on offerings, net of issuance costs	—	816,478
Taxes paid related to the net share settlement of equity awards	(5,290)	(3,306)
Net cash provided by financing activities	759	818,196
Effect of exchange rate changes on cash and cash equivalents	1,172	6,062
Net increase (decrease) in cash, cash equivalents and restricted cash	(41,026)	214,061
Cash, cash equivalents and restricted cash, beginning of period	389,195	398,554
Cash, cash equivalents and restricted cash, end of period	$348,169	$612,615
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	$346,850	$611,512
Restricted cash	1,319	1,103
Cash, cash equivalents and restricted cash	$348,169	$612,615
Supplemental disclosure of non-cash investing activities:
Purchases of property and equipment recorded in accounts payable and accrued expenses	$3,889	$13,719

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.