Vaxcyte vaccine manufacturer shares up 22% in early negotiations

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Vaxcyte Inc. shares
PCVX,
+ 51.81%

On Friday, their IPO jumped 22% after the company’s IPO at the top of its price range, and was increased to 15.6 million shares from previous plans to sell just 14 million. The company raised $ 249.6 million. The shares trade on the Nasdaq later Friday under the ticker symbol “PCVX”. BofA Securities, Jefferies and Evercore ISI were the main underwriters of the agreement with Cantor and Needham acting as co-managers. “We are a new generation vaccine company that seeks to improve global health by developing superior and innovative vaccines designed to prevent or treat some of the most common and deadly infectious diseases in the world,” says the prospectus. The proceeds of the transaction will be used for clinical development of the major funds and for general corporate purposes.

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