Vaxcyte (PCVX) 2024 Cantor Fitzgerald Global Healthcare Conference summary

Strategic vision and recent progress

• Focused on developing novel, improved bacterial vaccines, with a lead in pneumococcal conjugate vaccines.

• VAX-31 phase II adult data showed coverage of 95% of circulating disease, far exceeding current standards.

• Platform enables broader spectrum and more robust immune responses, with potential for additional novel vaccines.

• Technology originated at Stanford, allowing site-specific conjugation for optimized immune response.

• Plans to build a leading franchise in an $8 billion and growing market.

Clinical data and competitive positioning

• VAX-31 phase II results exceeded expectations, maintaining strong immune responses despite increased valency.

• Opportunity to transform the market by offering a vaccine with fewer trade-offs for decision makers.

• Preferential recommendation from ACIP could rapidly shift market share, as seen in other vaccine categories.

• Broader coverage and increased immunogenicity position the vaccine favorably for ACIP evaluation.

• Major competitors include Pfizer, Merck, Sanofi, and GSK, each with different approaches and varying success.

Manufacturing and commercialization plans

• Long-term partnership with Lonza for manufacturing, supporting both adult and future infant launches.

• New custom suite under construction, expected completion by late 2025 or early 2026, with $300–$350 million investment.

• U.S. launch to be managed independently with a 300–400 person sales and medical team; similar approach likely in Europe.

• Commercialization in China and select regions may involve partners due to market complexity.