Vaxcyte (PCVX) Goldman Sachs 46th Annual Global Healthcare Conference summary

Company overview and technology platform

• Founded 12 years ago, built on a proprietary cell-free protein synthesis platform licensed from Stanford, enabling precise vaccine conjugation.

• Focused on developing a best-in-class pneumococcal conjugate vaccine, with a lead 31-valent candidate poised for phase three in adults.

• Platform allows for broader coverage and nimble vaccine design, overcoming limitations of incumbent technologies.

Market landscape and growth drivers

• Pneumococcal vaccines represent an $8 billion global market, historically dominated by pediatric use but now expanding in adults.

• Recent policy changes lowered the adult vaccination age from 65 to 50 in the U.S., expected to drive significant future growth.

• Other developed countries are beginning to adopt adult vaccination, with the market projected to reach $13–$15 billion in five years.

• Market dynamics are shifting from a Pfizer monopoly to increased competition, with new entrants and broader spectrum vaccines.

Regulatory and policy environment

• Despite recent policy uncertainty and ACIP changes, regulatory interactions remain constructive and supportive for vaccines.

• Recent FDA approvals and bipartisan support in Congress reinforce a positive outlook for vaccine development.

• Breakthrough therapy designation enables frequent, high-level FDA engagement, with no change in tone or personnel.