NASDAQ$PCVX

Vaxcyte Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Vaxcyte reported positive topline data from Phase 1/2 study of VAX-24, cleared VAX-24 infant IND application by the FDA, and raised $805 million in gross proceeds in two follow-on equity offerings.

Vaxcyte reported financial results for Q4 2022, highlighting the FDA clearance of VAX-24 infant IND application, progress of VAX-31, and a strong cash position of $957.9 million, including $651.6 million from a public offering.

  • FDA cleared VAX-24 Infant Investigational New Drug Application.
  • Topline safety, tolerability, and immunogenicity results from VAX-24 Phase 2 study in adults 65 and older are on track for Q2 2023.
  • Positive topline results from VAX-24 Phase 1/2 proof-of-concept study in adults aged 18-64 indicate a potential best-in-class profile.
  • VAX-31 is progressing with adult IND application expected in the second half of 2023 and topline Phase 1/2 data in 2024.

Headline financials

EPS (adj)

-$1.02

Previous: -$0.54-88.9%
Capital Expenditures

$1.15M

Previous: $1.38M-17.0%
Free Cash Flow

-$66.4M

Previous: -$52.5M-26.5%
Net Income

-$78.1M

Previous: -$28.6M-173.1%
Operating Income

-$86.6M

Previous: -$29.8M-190.1%
Cash & Equivalents

$958M

Previous: $273M+250.8%
Total Assets

$1.01B

Previous: $324M+210.2%
Stock-Based Comp

$7.01M

Previous: $3.16M+121.9%

Revenue & EPS history

Vaxcyte · Revenue · Quarterly

$0

Q4 2025

Forward guidance

Vaxcyte is advancing the clinical development of its PCV programs with several anticipated key upcoming milestones.

Tailwinds

  • Topline safety, tolerability and immunogenicity data from the Phase 2 study in adults 65 and older in the second quarter of 2023.
  • Final results with the six-month safety data from the two Phase 2 adult studies in the first half of 2023.
  • Following the receipt of the final safety reports from the two adult Phase 2 studies, an end-of-Phase 2 meeting with the FDA in the second half of 2023 to inform the Phase 3 program.
  • Initiation of the infant Phase 2 study in the second quarter of 2023.
  • Submission of adult IND application in the second half of 2023.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2022

Historical avgQ4 2022

+0.6%

Avg return

Earnings day

+0.8%

Avg return

5 days after

-0.2%

Avg return

30 days after

50%

11 / 22 earnings

Positive

+23.8%

Q2 2020

Best reaction

-21.5%

Q4 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2025+2.7%+1.0%-13.3%
Q3 2025-2.5%+3.8%+12.4%
Q2 2025-9.1%-9.1%+0.1%
Q1 2025+8.3%+3.6%+27.6%
Q4 2024-0.9%-9.1%-12.5%
Q3 2024-2.3%+0.2%-15.4%
Q1 2024-2.9%-2.7%+5.1%
Q4 2023-4.9%-9.2%-13.5%
Q3 2023-1.0%-5.1%+10.8%
Q2 2023-2.5%-2.0%+3.4%
Q1 2023+3.7%-3.7%-0.3%
Q4 2022-1.8%+2.0%-11.6%
Q3 2022+4.2%+3.3%+0.6%
Q2 2022+0.4%+1.7%+6.1%
Q1 2022-11.4%-3.0%-14.8%
Q4 2021+5.5%+1.5%+6.5%
Q3 2021+3.4%+4.7%-12.7%
Q2 2021+5.1%+3.6%+3.1%
Q1 2021+13.5%+17.0%+40.5%
Q4 2020-21.5%-11.9%-17.3%
Q3 2020+3.9%-0.2%-15.3%
Q2 2020+23.8%+31.0%+5.5%
Q1 2020
Q4 2019
Q3 2019
Q2 2019
Q1 2019

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