Vaccinex Inc (VCNX) is a clinical-stage biopharmaceutical company that discovers and develops human monoclonal antibody therapeutics targeting neurological and oncological diseases. The company generates no product revenue and funds operations through equity and debt offerings, having used $16.2 million in operating cash during FY2024. Vaccinex owns two core platform assets: pepinemab, an antibody therapeutic candidate in clinical trials, and ActivMAb, a proprietary human antibody discovery platform that expresses fully human monoclonal antibodies on the surface of vaccinia virus in mammalian cells. Manufacturing is fully outsourced to contract manufacturing organizations, with Catalent responsible for pepinemab production for clinical trials. Vaccinex also holds a jointly owned antibody-drug conjugate (ADC) developed in collaboration with Catalent under a 2017 agreement. The company has no commercial products and relies on external financing to sustain operations. Maurice Zauderer serves as President and Chief Executive Officer, receiving total compensation of $447,988 in FY2024.

Revenue model

Vaccinex has no product revenue as of FY2024. The company finances operations through public or private equity and debt offerings. Cash used in operating activities was $16.2 million in FY2024, with $15.8 million provided by financing activities in the same period.

Products and services

Pepinemab: clinical-stage monoclonal antibody therapeutic candidate, manufactured by Catalent under a contract manufacturing arrangement. ActivMAb: proprietary human antibody discovery platform using vaccinia virus to express fully human monoclonal antibodies in mammalian cells. ADC (antibody-drug conjugate): jointly owned with Catalent under a 2017 collaboration agreement, targeting a cancer membrane antigen.

Customers and end markets

No commercial customers as of FY2024. End markets targeted include neurological diseases and oncology. Clinical trial participants and future patients in these indications represent the intended end beneficiaries upon potential commercialization.

Value-chain role

Drug discovery and clinical development. Vaccinex does not own or operate manufacturing facilities and relies entirely on third-party CMOs, including Catalent, for clinical-stage manufacturing. The company holds IP through its ActivMAb platform and pipeline antibody candidates.

Source: SEC 10-K, filed 2025-04-15

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