Vaxcyte (PCVX) 2024 Cantor Fitzgerald Global Healthcare Conference summary

Strategic vision and recent progress

• Focused on developing novel bacterial vaccines, with recent phase II data for VAX-31 showing potential to protect against 95% of circulating pneumococcal disease, far surpassing current standards.

• Platform technology enables site-specific conjugation, improving immune responses and allowing broader spectrum vaccines.

• VAX-31 phase II results exceeded expectations, maintaining strong immune responses even with expanded serotype coverage.

• Opportunity to lead in an $8 billion market, with plans to expand into additional bacterial vaccines.

Competitive landscape and regulatory outlook

• VAX-31 could transform the market by offering broader coverage and improved immunogenicity, potentially leading to a preferential ACIP recommendation.

• Broader coverage historically drives market share, as seen with other vaccines; a preferred recommendation could rapidly shift market dynamics.

• Manufacturing capacity is being expanded with Lonza, with a new facility underway to support both adult and future infant indications.

• Patent estate covers cell-free protein synthesis and site-specific conjugation, with protection extending into the 2040s.

Market growth and commercialization strategy

• Adult PCV market growth expected from lowering vaccination age, booster doses, and new recommendations outside the U.S.

• Global PCV market projected to grow from $8 billion to $12–13 billion in coming years, driven by adult segment expansion.

• Plans to launch independently in major markets, with a U.S. sales force of 300–400 and selective partnering in regions like China.