Vaxcyte, Inc. (PCVX) IPO opens at $20.80 after pricing at $16

Today's IPO for Vaxcyte, Inc. (NASDAQ: PCVX) opens at $20.80 after pricing 15,625,000 shares of common stock at $16.

In addition, Vaxcyte has granted the underwriters a 30-day option to purchase up to an additional 2,343,750 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

BofA Securities, Jefferies and Evercore ISI are acting as joint book-running managers for the offering. Cantor and Needham & Company are acting as co-managers for the offering.

Vaxcyte, formerly known as SutroVax, is a next-generation vaccine company seeking to improve global health by developing superior and novel vaccines designed to prevent or treat some of the most common and deadly infectious diseases worldwide. The Company’s cell-free protein synthesis platform, comprising the XpressCFTM platform, exclusively licensed from Sutro Biopharma, Inc., together with Vaxcyte’s proprietary know-how, enables the design and production of protein carriers and antigens, the critical building blocks of vaccines, in ways that the Company believes conventional vaccine technologies currently cannot. In addition to its pneumococcal conjugate vaccines in development, VAX-24 and VAX-XP, Vaxcyte is leveraging its proprietary platform to advance other novel vaccines, including a prophylactic vaccine to prevent Group A Strep infections (VAX-A1) and a therapeutic vaccine to treat periodontal disease (VAX-PG).

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