SutroVax, Inc., a next-generation vaccine company, has announced on May 21, 2020, that it has decided to change its name to Vaxcyte, Inc. They believe the new name more than accurately reflects the Company’s mission to improve global health by developing superior and effective vaccines that are designed to prevent and hopefully treat deadly infectious diseases worldwide. Grant Pickering, Chief Executive Officer and Co-founder of Vaxcyte said that they are committed to developing superior vaccines that provide broader protection than what is available currently and are trying to develop novel vaccines that target pathogens for which no approved vaccines exist.
As they try to move their business forward and prepare themselves for their lead pneumococcal conjugate vaccine, VAX-24, to advance into the clinical trials, they believe now is the time to change to a new name that reflects their path ahead in the industry and their unique expertise. The new Vaxcyte name and logo comprise the meaning of the Company’s focus on developing vaccines to prevent and effectively treat many of the common and deadly infectious diseases worldwide and then utilize its exclusively licensed cell-free protein synthesis platform. Vaxcyte has also tried to leverage its platform and also the know-how, trying their best to utilize site-specific conjugation, and develop its lead pneumococcal conjugate vaccine program to incite T-cell and B-cell-mediated (leukocyte) immune responses.
NASDAQ: PCVX at https://www.webull.com/quote/nasdaq-pcvx company pipeline also includes VAX-XP, a PCV with a high expanded breadth of coverage of at least 30 strains, that include newly emerging strains responsible for IPD and antibiotic resistance. It also comprises of a novel conjugate vaccine designed to prevent Group A Strep infections and a novel protein-based therapeutic vaccine designed to slow or stop the progression of periodontal disease by targeting the keystone pathogen responsible for this chronic, oral inflammatory disease.
PCVX priced its initial public offering on a late Thursday on the 11th June 2020 at only $16 a share with the total top end of its price range, heavily upsized the deal to 15.6 million shares from all the earlier plans to sell just at 14 million. The company raised $249.6 million. The shares will now start their trades on Nasdaq on this later Friday i.e, on 12th June 2020 under the “PCVX”. BofA Securities, Jefferies, and Evercore ISI were the lead underwriters for this deal with Cantor and Needham acting as the co-managers. The prospectus strongly believes they are the next-generation vaccine company that is seeking to improve global health by developing superior vaccines that are designed to prevent deadly infectious diseases worldwide. You can check more stock news at stock trading websites. Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.
