PCVX

The post-earnings company update was supportive in the limited sense that the adult Phase 3 program is now fully enrolled, OPUS-1 timing stayed on track for Q4 2026, and the balance sheet remains unusually strong for a clinical-stage biotech at roughly $2.7 billion of cash and investments. If investors view the May update as confirming execution rather than slipping timelines, the stock can continue to trade off the possibility that successful VAX-31 data would create a best-in-class adult PCV asset.