Quarterly ResultMay 6, 2026, 04:16 PM
Vaxcyte Q1 Net Loss $320.6M; VAX-31 Phase 3 Enrollment Complete
AI Summary
Vaxcyte reported a net loss of $320.6 million for Q1 2026, compared to $140.7 million in Q1 2025, driven by increased R&D expenses. The company announced the completion of enrollment for all three VAX-31 adult Phase 3 trials (OPUS-1, OPUS-2, OPUS-3) and the VAX-31 infant Phase 2 study. Vaxcyte also strengthened its balance sheet with approximately $2.7 billion in cash, cash equivalents, and investments as of March 31, 2026, following a $601.8 million net proceeds equity offering in February 2026.
Key Highlights
- Enrollment completed for VAX-31 adult Phase 3 trials (OPUS-1, OPUS-2, OPUS-3) with 6,191 adults dosed.
- OPUS-1 Phase 3 topline data expected in Q4 2026; OPUS-2 and OPUS-3 results in H1 2027.
- Q1 2026 net loss was $320.6 million, compared to $140.7 million in Q1 2025.
- R&D expenses increased to $312.8 million in Q1 2026 from $148.1 million in Q1 2025.
- Cash, cash equivalents, and investments totaled $2,741.2 million as of March 31, 2026.
- Completed equity offering in February 2026, generating $601.8 million in net proceeds.
- Enrollment completed for VAX-31 infant Phase 2 study with 900 infants dosed.
- Initiate VAX-A1 Phase 1 adult clinical study in mid-2026.