Vaxcyte, Inc.

Listed Company

PCVXCIK 0001649094NasdaqLarge AcceleratedBiological Products, (No Diagnostic Substances)DelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-766.63M

Total Assets

$3.00B

Equity

$2.69B

Shares Out

143.92M

Op. Cash Flow

$-655.58M

Business

Vaxcyte, Inc. is a clinical-stage vaccine innovation company engineering high-fidelity conjugate and novel protein vaccines to prevent or treat bacterial infectious diseases. Its main products and services include broad‑spectrum pneumococcal conjugate vaccine candidates (VAX-31 and VAX-24), and novel programs for Group A Streptococcus, periodontitis (VAX-PG) and Shigella (VAX-GI), supported by discovery-stage assets. The company organizes around a cell‑free protein synthesis platform, site‑specific conjugation chemistry and a PCV franchise development stream. It targets global vaccine markets and advances programs via collaborations with contract manufacturers, academic and government partners and regulatory pathways.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Research and development	794	477	332	169	78
Acquired manufacturing rights	0	0	75	23	—
General and administrative	129	93	61	40	25
Total operating expenses	924	570	468	232	104
Loss from operations	−924	−570	−468	−232	−104
Interest income	120	110	63	8	344,000
Other income (expense)	37	−4	3	9	4
Total other income, net	157	106	66	—	—
Net loss	−767	−464	−402	−223	−100
Net loss per share, basic (in dollars per share)	−5.63	−3.8	−4.14	−3.44	−1.93
Net loss per share, diluted (in dollars per share)	−5.63	−3.8	−4.14	−3.44	−1.93
Weighted-average shares outstanding, basic (in shares)	136	122	97	65	52
Weighted-average shares outstanding, diluted (in shares)	136	122	97	65	52

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	174	388	397	835	69
Short-term investments	1,387	1,359	683	97	177
Prepaid expenses and other current assets	66	41	16	11	10
Total current assets	1,627	1,788	1,096	943	256
Property and equipment, net	257	198	80	10	8
Operating lease right-of-use assets	116	72	31	21	28
Long-term investments	882	1,388	163	27	27
Restricted cash	1	1	1	871,000	871,000
Other assets	119	64	38	5	4
Total noncurrent assets	1,375	1,723	312	64	68
Total assets	3,003	3,511	1,408	1,006	324
Accounts payable	71	48	15	10	7
Accrued compensation	23	21	11	1	3
Accrued contract manufacturing expenses	75	36	53	8	4
Accrued expenses	31	29	60	15	9
Operating lease liabilities current	6	6	7	6	5
Total current liabilities	206	140	145	41	29
Operating lease liabilities long-term	111	65	22	12	12
Other liabilities	100,000	100,000	0	9,000	96,000
Total liabilities	317	205	167	53	40
Commitments and contingencies (Note 7)	—	—	—	—	—
Preferred stock, $0.001 par value 10,000,000 authorized at December 31, 2025 and December 31, 2024; no shares issued and outstanding at December 31, 2025 and December 31, 2024	0	0	0	0	0
Common stock, $0.001 par value 500,000,000 shares authorized at December 31, 2025 and December 31, 2024; 131,058,858 and 124,893,034 shares issued and outstanding at December 31, 2025 and December 31, 2024, respectively	134,000	128,000	98,000	82,000	56,000
Additional paid-in capital	4,839	4,698	2,165	1,476	583
Accumulated other comprehensive income (loss)	2	−4	179,000	−361,000	−241,000
Accumulated deficit	−2,155	−1,388	−924	−522	−299
Total stockholders' equity	2,686	3,306	1,240	954	284
Total liabilities and stockholders' equity	3,003	3,511	1,408	1,006	324

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−767	−464	−402	−223	−100
Depreciation and amortization	16	7	3	3	2
Stock-based compensation expense	139	85	49	24	11
Amortization of operating lease right-of-use assets	8	9	7	7	2
Net accretion of discounts on investments	−14	−39	−35	−947,000	1
Unrealized foreign exchange loss (gain)	−35	4	0	0	—
Prepaid expenses and other current assets	−17	−6	18	433,000	−7
Operating lease right-of-use assets	−52	−50	−17	0	0
Other assets	−40	−27	−33	−465,000	−4
Operating lease liabilities	46	42	11	1	—
Accounts payable	20	35	11	3	−12
Accrued compensation	2	10	10	−2	3
Accrued contract manufacturing expenses	31	−23	45	4	−9
Accrued expenses	6	−36	36	7	5
Net cash used in operating activities	−656	−453	−297	−171	−121
Purchases of property and equipment	−14	−22	−16	−6	−7
Purchases of manufacturing facility build-out and equipment construction-in-progress	−43	−97	−52	0	—
Purchases of investments	1,211	3,087	1,330	−103	−336
Maturities of investments	1,531	1,133	612	169	101
Sales of investments	175	67	13	14	30
Net cash provided by (used in) investing activities	437	−2,006	−773	75	−212
Proceeds from issuance of common stock and pre-funded warrants from follow-on offerings, net of issuance costs	0	2,240	545	759	0
Proceeds from issuance of common stock under at-the-market offering, net of issuance costs	0	196	91	—	—
Proceeds from issuance of shares through employee equity incentive plans	13	27	8	6	888,000
Taxes paid related to the net share settlement of equity awards	−11	−14	−4	−861,000	—
Net cash provided by financing activities	2	2,449	640	862	18
Effect of exchange rate changes on cash and cash equivalents	2	426,000	−7	137,000	−439,000
Net decrease in cash, cash equivalents and restricted cash	−214	−9	−437	766	−316
Purchases of property and equipment recorded in accounts payable and accrued expenses	8	13	9	110,000	766,000

Filings

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