Vaxcyte rises on positive early-stage results for its pneumococcal vaccine
** Shares of vaccine developer Vaxcyte Inc PCVX.O rise 36.5% to $110.26 premarket
** Company says its experimental pneumococcal vaccine showed positive results in a early-stage study testing it in 1,015 healthy adults aged 50 and older to prevent invasive pneumococcal disease
** Pneumococcal disease spreads through direct contact with respiratory secretions such as saliva or mucus
** PCVX says, based on the results, co has selected the VAX-31 vaccine to advance to a late-stage study
** VAX-31 was observed to be well tolerated and demonstrated a safety profile similar to Pfizer's PFE.N approved pneumococcal vaccine, Prevnar 20, at all doses studied- PCVX
** Co says VAX-31 showed robust immune responses for all 31 serotypes or variations of the bacteria at all doses studied
** Up to last close, stock up 28.6% YTD
Reporting by Sneha S K
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