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BUZZ-Vaxcyte down after Leerink's PT cut

Reuters
Apr 01, 2025
BUZZ-Vaxcyte down after Leerink's PT cut

** Shares of vaccine developer Vaxcyte Inc PCVX.O fall 3% to $36.69

** Brokerage Leerink cuts PCVX's PT to $65 from $153

** PCVX said on Monday its experimental pneumococcal vaccine for infants, VAX-24, achieved "non-inferiority" in a mid-stage study compared to rival Pfizer's PFE.N Prevnar 20 shot

** Although we believe that VAX-24 is a safe and approvable vaccine, we now have less confidence that both VAX-24 & VAX-31 will deliver highly compelling efficacy in future infant datasets - brokerage

** Leerink notes that the infant results do not affect its high expectations for VAX-31 in adults

** PCVX shares have faced significant pressure due to investor concerns about U.S. health secretary Robert F. Kennedy Jr.'s stance on vaccines, Leerink says

** Up to last close, PCVX was down ~54% YTD

(Reporting by Juby Babu in Mexico City)

((Juby.Babu@thomsonreuters.com;))

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