US Stock Market Move | Pneumococcal vaccine meets late-stage clinical trial goal, Vaxcyte (PCVX.US) opens more than 50% higher.
On Monday, Vaxcyte (PCVX.US) gapped up more than 50% at the open, and as of press time, it was up about 53% with a market capitalization of $12.8 billion.
On Monday, Vaxcyte (PCVX.US) gapped up more than 50% at the open, rising about 53% as of press time, with a market capitalization of $12.8 billion. On the news front, the company's pneumococcal vaccine met its late-stage clinical trial goals. According to the company's assessment, VAX-31an investigational 31-valent pneumococcal conjugate vaccineachieved positive topline results in the pivotal Phase III OPUS-1 trial. The trial evaluated the safety, tolerability, and immunogenicity of the vaccine candidate in adults for the prevention of invasive pneumococcal disease and pneumococcal pneumonia. In the OPUS-1 trial, VAX-31 met all pre-specified co-primary immunogenicity endpoints in subjects aged 50 and older. These trial results will lay the foundation for an upcoming Biologics License Application submission to the U.S. Food and Drug Administration.
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OCI INTL (00329) proposes to place up to 300 million shares at a discount of approximately 10.57%, aiming to raise net proceeds of approximately HK$32.63 million.
