Vaxcyte vaccine data ‘slightly’ miss Street bogey, says Mizuho

Mizuho keeps an Outperform rating after Vaxcyte (PCVX) announced post-dose three and interim post-dose four data from the Phase 2 trial of VAX-24 in infants. The same four serotypes missed the post-dose three serotypes bound confidence interval of the difference of seroconversion rates across all doses, the analyst tells investors in a research note. While the Street was looking for less than or equal to three serotype misses, thus “slightly missing this bogey,” the data still would likely represent the broadest pneumococcal conjugate vaccine in infants and seems approvable, contends Mizuho. Vaxcyte shares in premarket trading are down 40%, or $27.47, to $41.99.