Vaxcyte Stock Plummets 56% in a Month: Here's the Reason

Vaxcyte (PCVX) is a clinical-stage biotech focused on developing vaccines to prevent or treat bacterial infectious diseases.In the past month, PCVX's shares have nosedived 56%. This downside came after Vaxcyte reported mixed results from a phase II study on its investigational pneumococcal conjugate vaccine (PCV) in healthy infants.Adding to this headwind, the broader biotech/drug sector is feeling the pressure from the resignation of a senior FDA official instrumental in driving biotech innovation, which h ...