Vaxcyte, Inc.

For the period ended Mar 31, 2026. Filed May 6, 2026.

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, 2026 · Filed May 6, 2026

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,
	2026	2025
Operating expenses:
Research and development	$312,779	$148,134
General and administrative	33,071	32,659
Total operating expenses	345,850	180,793
Loss from operations	(345,850)	(180,793)
Other income, net:
Interest income	26,610	32,935
Other income (expense)	(1,382)	7,140
Total other income, net	25,228	40,075
Net loss	$(320,622)	$(140,718)
Net loss per share, basic and diluted	$(2.30)	$(1.04)
Weighted-average shares outstanding, basic and diluted	139,506,680	135,690,949

Condensed Consolidated Statements of Comprehensive Loss

(in thousands)

	Three Months EndedMarch 31,
	2026	2025
Net loss	$(320,622)	$(140,718)
Other comprehensive loss:
Unrealized (losses) gains on investments, net	(8,731)	4,634
Foreign currency translation adjustments, net	310	(1,083)
Comprehensive loss	$(329,043)	$(137,167)

Condensed Consolidated Statements of Stockholders’ Equity

(in thousands, except share data)

Common Stock · Additional Paid-in Capital · Accumulated Deficit · Accumulated OtherComprehensive Gain (Loss) · Total Stockholders’ Equity
Shares · Amount
Balance — December 31, 2025	131,058,858		$134		$4,838,736		$(2,154,947)		$1,587		$2,685,510
Issuance of common stock in connection with employee incentive plans	606,123		—		9,032		—		—		9,032
Issuance of common stock in connection with follow-on public offering, net of commissions and offering expenses of $30,654	12,650,000		13		601,833		—		—		601,846
Taxes paid related to the net share settlement of equity awards	—		—		(9,295)		—		—		(9,295)
Stock-based compensation expense	—	—		37,964		—		—		37,964
Other comprehensive loss	—	—		—		—		(8,421)		(8,421)
Net loss	—	—		—		(320,622)		—		(320,622)
Balance — March 31, 2026	144,314,981	$147		$5,478,270		$(2,475,569)		$(6,834)		$2,996,014

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 from underlying pre-funded warrants in connection with follow-on public offerings	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 Cash Flows

(in thousands)

	Three Months EndedMarch 31,
	2026	2025
Cash flows from operating activities:
Net loss	$(320,622)	$(140,718)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,947	2,956
Stock-based compensation expense	37,964	30,615
Amortization of operating lease right-of-use assets	2,907	1,918
Net accretion of discounts on investments	(3,112)	(4,913)
Unrealized foreign exchange loss (gain)	2,201	(6,617)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(8,743)	(1,499)
Operating lease right-of-use assets	—	(17,575)
Other assets	(16,876)	(6,554)
Operating lease liabilities	(1,285)	15,999
Accounts payable	(269)	(29,163)
Accrued compensation	(15,018)	(14,418)
Accrued contract manufacturing expenses	54,852	8,088
Accrued expenses	(15,571)	(4,393)
Net cash used in operating activities	(280,625)	(166,274)
Cash flows from investing activities:
Purchases of property and equipment	(2,107)	(5,424)
Purchases of manufacturing facility build-out and equipment construction-in-progress	(12,687)	(21,327)
Purchases of investments	(584,129)	(314,485)
Maturities of investments	340,631	438,488
Sales of investments	24,882	26,065
Net cash provided by (used in) investing activities	(233,410)	123,317
Cash flows from financing activities:
Proceeds from issuance of shares through employee equity incentive plans	9,032	6,049
Proceeds from issuance of common stock from follow-on offering, net of issuance costs	601,846	—
Taxes paid related to the net share settlement of equity awards	(9,295)	(5,290)
Net cash provided by financing activities	601,583	759
Effect of exchange rate changes on cash and cash equivalents	(664)	1,172
Net increase (decrease) in cash, cash equivalents and restricted cash	86,884	(41,026)
Cash, cash equivalents and restricted cash, beginning of period	175,425	389,195
Cash, cash equivalents and restricted cash, end of period	$262,309	$348,169
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	$260,843	$346,850
Restricted cash	1,466	1,319
Cash, cash equivalents and restricted cash	$262,309	$348,169
Supplemental disclosure of non-cash investing and financing activities:
Purchases of property and equipment recorded in accounts payable and accrued expenses	$6,343	$3,889

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.