Related-Party Transactions

9 Months Ended

Sep. 30, 2021

Related Party Transactions [Abstract]

Related-Party Transactions

8. Related-Party Transactions     

Upon the Company’s public offering on May 14, 2020, Merck’s ownership of the Company’s outstanding equity interest decreased to less than 10%. As a result, starting May 14, 2020, the Company ceased to reflect balances and transactions associated with Merck as being with a related party in its financial statements. Transactions with Merck for the three and nine months ended September 30, 2021 and 2020 are described in Note 5.  

As discussed in Note 2, Vaxcyte closed its IPO of its common stock on June 16, 2020, resulting in the Company’s ownership of Vaxcyte’s outstanding equity interest being less than 4.0%. As a result, starting on June 16, 2020, the Company ceased to reflect any balances and transactions associated with Vaxcyte as being with a related party in its financial statements.  Transactions with Vaxcyte for the three and nine months ended September 30, 2021 and 2020 are described in Note 5.