Biotech Values

[DewDiligence]

PCVX—(-55%)—reports purportedly-positive phase-2 data for VAX-24 in infants:

https://finance.yahoo.com/news/vaxcyte-announces-positive-topline-results-110000250.html

Based on these findings, the Company has selected the VAX-24 Mid dose as the basis for advancement of an optimized dose formulation to a potential Phase 3 program and, pending the VAX-31 infant Phase 2 study topline data results anticipated in mid-2026, plans to initiate an infant Phase 3 study with either VAX-24 or VAX-31 [emphasis added].

Only the middle dose of the three doses tested met the primary endpoint of non-inferiority to PFE’s Prevnar-20.

If these VAX-24 data had been stellar, PCVX would presumably have advanced the program to phase-3 now rather than possibly going to phase-3 in mid-2026.

The Peter Marks news over the weekend has undoubtedly increased the magnitude of today’s PCVX selloff.

p.s. I’ve long thought that PCVX was overvalued (#msg-175027716).