Vaxcyte Inc. reported a net loss of $140.7 million for the first quarter ended March 31, 2025, an increase from the $95.0 million net loss recorded for the same period in 2024. The company also reported having approximately $3.0 billion in cash, cash equivalents, and investments as of March 31, 2025. The company continues to advance its pneumococcal conjugate vaccine (PCV) programs. Vaxcyte announced positive topline safety, tolerability, and immunogenicity data from its Phase 2 dose-finding study of VAX-24 in healthy infants, with the balance of data expected by the end of 2025. Additionally, Vaxcyte has initiated the second and final stage of the VAX-31 Infant Phase 2 dose-finding study, with results from the primary three-dose immunization series expected in mid-2026. Vaxcyte also announced plans to initiate the VAX-31 Adult Phase 3 pivotal, non-inferiority study by mid-2025, with topline data expected in 2026. Furthermore, the company introduced VAX-XL, a third-generation pneumococcal conjugate vaccine candidate designed to expand coverage. In terms of operational developments, Vaxcyte incurred an additional $31.7 million in capital and facility buildout expenditures for the ongoing construction of a manufacturing suite at Lonza, intended to support global commercialization of the company's PCV programs. As of March 31, 2025, total expenditures for this buildout were $246.0 million, with completion expected by early 2026 at a total cost of approximately $300-350 million.