Vaxcyte Inc
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Vaxcyte Inc AI Insights
Informational only. Not investment advice.Snapshot
- R&D spend of 686M TTM is 15x industry median (45M), signaling aggressive late-stage pipeline investment with zero revenue to offset burn.[Research and Development TTM]
- Cash runway critical: 281M cash + 1.5B working capital vs 621M annual FCF burn implies ~3 years runway without dilution.[Free Cash Flow TTM]
- Debt/equity of 0.03 with 2.9B equity provides balance sheet flexibility for future capital raises or partnerships.[Debt to Equity]
Watch Triggers
- Cash and Equivalents: Falls below 500M total liquidity — Signals imminent dilutive financing at potentially distressed terms
- Research and Development TTM: Quarterly R&D drops >20% sequentially — May indicate trial termination or strategic pivot away from lead programs
- Total Revenue TTM: Any revenue recognition >0 — Would signal partnership/licensing deal validating pipeline value
Bull Case
Fortress balance sheet: 2.9B equity, 0.03 debt/equity, 1.6B working capital enables multi-year runway without forced dilution at unfavorable terms.
R&D intensity 15x industry median signals conviction in pipeline; successful Phase 3 readout could justify 3-5x current EV based on pneumococcal vaccine market size.
Bear Case
621M annual FCF burn with 281M cash = dilution inevitable within 18 months; any trial failure collapses equity value given zero revenue base.
P/B 2.1x on pre-revenue biotech implies market prices in high approval probability; negative surprise destroys premium entirely.
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
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Forward Thesis
Binary clinical readouts will drive 50%+ valuation swings within 12 months
- 686M annual R&D concentrated in late-stage trials
- Zero revenue = 100% dependent on pipeline success
- EV of 5.8B prices in significant probability of approval
Valuation Context
Caveats
Public Strategies Rankings
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PCVX Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$8.28B | — | ||
$8.09B | — | ||
0.00 | — | ||
$0 | — | ||
$-4.85 | — | ||
0% | 0.0% | — | |
0% | 0.0% | — | |
$-620.73M | — | ||
-20.8% | +0.2% | — | |
Beta 5Y (Monthly) | unknown | — |
PCVX Dividend History
PCVX Stock Splits
PCVX SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
11/04/25 | 09/30/25 | 10-Q | |
08/06/25 | 06/30/25 | 10-Q | |
05/07/25 | 03/31/25 | 10-Q | |
02/25/25 | 12/31/24 | Unknown | |
11/05/24 | 09/30/24 | 10-Q | |
08/06/24 | 06/30/24 | 10-Q | |
05/08/24 | 03/31/24 | 10-Q | |
02/27/24 | 12/31/23 | 10-K | |
11/06/23 | 09/30/23 | 10-Q | |
08/08/23 | 06/30/23 | 10-Q | |
05/08/23 | 03/31/23 | 10-Q | |
02/27/23 | 12/31/22 | 10-K | |
11/07/22 | 09/30/22 | 10-Q | |
08/08/22 | 06/30/22 | 10-Q | |
05/09/22 | 03/31/22 | 10-Q | |
02/28/22 | 12/31/21 | 10-K | |
11/10/21 | 09/30/21 | 10-Q | |
08/11/21 | 06/30/21 | 10-Q | |
05/11/21 | 03/31/21 | 10-Q | |
03/29/21 | 12/31/20 | 10-K | |
11/12/20 | 09/30/20 | 10-Q | |
08/12/20 | 06/30/20 | 10-Q | |
06/15/20 | 03/31/20 | 424B4 | |
06/15/20 | 12/31/19 | 424B4 | |
11/12/20 | 09/30/19 | 10-Q | |
08/12/20 | 06/30/19 | 10-Q | |
06/15/20 | 03/31/19 | 424B4 |