Quarterly ResultMay 6, 2026, 04:20 PM
Vaxcyte Q1 Net Loss $(320.6)M; R&D $312.8M; Raises $601.8M
AI Summary
Vaxcyte reported a significant increase in net loss for Q1 2026, reaching $(320.6) million, primarily driven by a substantial rise in research and development expenses to $312.8 million. The company bolstered its financial position by raising $601.8 million through a follow-on public offering. Vaxcyte also continued to invest in manufacturing capabilities, with capital expenditures for its facility buildout increasing to $218.9 million.
Key Highlights
- Net loss for Q1 2026 was $(320.6) million, up from $(140.7) million in Q1 2025.
- Research and development expenses increased to $312.8 million in Q1 2026 from $148.1 million in Q1 2025.
- Proceeds from a follow-on public offering, net of costs, totaled $601.8 million.
- Cash and cash equivalents rose to $260.8 million as of March 31, 2026.
- Total current assets increased to $1.81 billion from $1.63 billion at December 31, 2025.
- Capital expenditures for Vaxcyte-owned facility buildout reached $218.9 million.
- Entered a master services agreement with Thermo Fisher for drug product manufacturing.