US Stock Market Move | Pneumococcal vaccine meets late-stage clinical trial goal, Vaxcyte (PCVX.US) opens more than 50% higher.

On Monday, Vaxcyte (PCVX.US) gapped up more than 50% at the open, rising about 53% as of press time, with a market capitalization of $12.8 billion. On the news front, the company's pneumococcal vaccine met its late-stage clinical trial goals. According to the company's assessment, VAX-31an investigational 31-valent pneumococcal conjugate vaccineachieved positive topline results in the pivotal Phase III OPUS-1 trial. The trial evaluated the safety, tolerability, and immunogenicity of the vaccine candidate in adults for the prevention of invasive pneumococcal disease and pneumococcal pneumonia. In the OPUS-1 trial, VAX-31 met all pre-specified co-primary immunogenicity endpoints in subjects aged 50 and older. These trial results will lay the foundation for an upcoming Biologics License Application submission to the U.S. Food and Drug Administration.