PCVX - Earnings call transcript Q4 2021

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Operator

Good afternoon. My name is Josh, and I will be your conference operator today. At this time, I would like to welcome everyone to the Vaxcyte Fourth Quarter and Full-Year Financial Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. now Chief call Financial would Guggenhime, to I and President Officer Instructions] turn over the Andrew [Operator of Vaxcyte. sir. ahead, go Please

Andrew Guggenhime

news release our Thank releases, today afternoon, conference a Chief Wassil; afternoon you Media and good SEC website. provide Pickering; a of we XXXX you, our this like I found of to Chief Operator, and welcome Fairman. Research, am Executive update. latest be to Grant of joined results everyone. and Jim to our the in to and Operating news our this Earlier announcing and VP Jeff call I'd presentation, filings other earnings Copies Officer, can our section Investors business discuss results. issued by our Vaxcyte's our and corporate Officer,

are usage for funding that clinical are our cash of to expenses VAX-XX on update statements no other and obligation development statements remind various of historical Before and making be are forward-looking operating line the based call begin, like our we and and we support availability the facts process of our future of I'd including timing of today and them. programs expected risks not days Any vaccine our proof-of-concept that other of uncertainties. and to subject during data study, and this the Vaxcyte top to development the vaccine X/X assumptions demand timing we'll you includes anticipated from our vaccine statements statements forward-looking related which to undertake the sufficiency candidates, and as candidates, about candidates, and benefits facts. certain other to These

December should risk the that, differ the XXXX, Pickering. will in Grant? these XX, to SEC. with call statements. set read ended With and for XX-K Our actual forth materially the subsequent any over filed from year Grant results reports the may Vaxcyte's Form I factors Investors turn

Grant Pickering

disease, Vaxcyte. call the such vaccine development. our joining of which onboard and you expertise transition past Strep advancements of an today. and advanced all The was And the the and novel made infections on to year up remains eradicating us for A for across webcast, and Andrew. bacterial as Thanks, We stage our one pneumococcal scale periodontitis. into our significant pipeline, thanks on important focused business platform potential help prepare right demonstrated clinic invasive group and for manufacturing the late us We extremely

historically bacterial we impact a innovation have diseases the not all attention. not infectious global vaccine of received on the since scale witness adequate XXXXs, While seen

pneumococcal a the currently climb, vaccines. not global As by serotypes of result, incidence driven by available disease continues covered to emerging

addition pneumococcal are have conjugate to or protection. diminished serotypes permit protection effective, of reached PCVs without underlying its chemistry of terms ability the vaccines Although to its jeopardizing broaden the to appears immune overall for term responses, in long limit available short their

preserving to Our capable cell-free bacteria's while immunogenicity that and broader is coverage. applying across overcome techniques, synthesis such vaccines protein advanced of strategy platform produce are limitations complex defense the of XpressCF, modern chemistry uniquely down spectrum to including breaking the synthetic mechanisms by

in further With candidate allows to anticipate undergo advantage, billion we an the Our is broader will global franchise to significant of a in vaccines. afford in has PCV us site specific technology avoid already this ways a competitive to the carrier PCV conjugation in PCVs an to our both to opportunity suppression that spectrum pneumococcal other adults believe VAX-XX vaccine market class poised growth. and coverage best opportunity we our designed engineer be $X that pediatrics lead XX-valent surpass

the exceed anticipate dosing approval. data potential more study this a and portion if in If of of from anticipated milestones, basis VAX-XX or we key VAX-XX adults. in the the portion of serotype for just pneumococcal week, way announcing based power meet The phase adult have XXXX both year and the inferior surge on immunogenicity as X it We end. key paved number VAX-XX immunogenicity remain response portions sales billion to annual represents Phase the and has our the adults one this based for serotype to safety can in given the by threshold a immune how achieved, point that to tell and in Phase required participants excited on for top Phase the This or milestone grow to immunogenicity last us by major represent VAX-XX Phase with study inform $X study X/X optimal X the and X determine regulatory X a clinical reached in vaccine Our on future line of of we the X should non we of study market, announced momentum the recent results the pivotal of the first company. doses dose significantly opportunity a the achievements inflection in is designed factors. a has about Phase is approximately

XX pricing First, XX. the the validates value disease broader for both PCV broader we've PCVs, spectrum recently including FDA associated Prevnar or XX-Valent or approved again. PCV XX once and Pfizer's of PCV with seen justified XX Valent PCV This coverage Merck's products, premium

recommended CDC's ages adult of the the XX% or Practices one risk XX PCV given market fall, of XX, fall into these a to further Advisory risk to Committee XX last ACIP expands aged adults on approximately certain Immunization identified for which XX late groups groups. Second,

move several potential if and universal strong vaccination Pneumovax of age the XX broader XX from of lead schedule. provide to grow years PCV spectrum XX, the term age lowering longer to may only desire there could population. lower VAX-XX this as recommendation recommendation meeting, the adult which the years down see from the Third, market vaccine of such And to to boost eclipsed XX age would we the which this alone removal the were be and lastly, door and committee up, a would prime open the could market. during ACIP coverage expressed of by treatment the a regimen significantly elderly expand adult by same to members would was adults, older in PCV protection its approved, a to the enabled polysaccharide further This size

So of capitalize we spectrum and an drivers in believe given to market VAX-XX additional very its well the positioned opportunity growth current is will potential have coverage. on

we study the positive XX our additional plan we of PCV and the XXXX. the the expect X able pediatric to population the from X us large upon and data with a into portion positive phase X/X will segment. meeting Subject a up this submit in completing to into pediatric be the activities half XX and application FDA, Upon study, program trigger position phase ongoing well portion with pre-IND results development of the in IND Importantly, put first to from phase backs to would to a the expand franchise. established

part we strategy, invest of As to VAX-XP. franchise continue PCV our in aggressively

study. PCV results the following adult an coverage investment the has than of expanded announcement top of for line breadth from position of VAX-XP strains. in submission provide with candidate greater guidance X/X the IND put to a anticipated application Our VAX-XX XX us phase of the This parallel

that strengthened we have activities. expected million this A to children is expected Phase the operations treat of year look offering other additional VAX-XP would information support to both and I'll a to turn by the incremental clear far. line $XXX make an once I'm adults announcement least sheet by opportunity follow compelling in and Wassil, large the continues for at to our exciting the progress we programs. the Strep of noted anticipated be VAX-PG results, incredibly our over now to resources application broad IND VAX-AX this study is and Beyond prevent the we most capital, a group to target will population. which the X/X is enabling anticipate us IND A of to allow X/X promises have With the year. And The finally, to year. our achieved VAX-AX Strep design our history our top disease guidance candidates. fund vaccine we important months our to and completing We Jim this on programs now To past what our second thus to we follow progress prevent this programs, global PCV an infections vaccine designed on VA-AX forward share periodontal we believe of submission with end. proud for XX end on the PCV is our balance half company's providing continue by group about in earlier again and what quarter. vaccine including for timing final the pipeline this to franchise a it these candidate Phase clinical in VAX-XX intend nominate year making VAX-XX, our and behind need who

Jim Wassil

Grant. Thanks,

Before pneumococcal broader public bacteremia vaccines non anticipated program, I of opportunity want our basic significance to to disease, disease lead reiterate what The to that you pneumonia. bacteria and the caused spectrum by VAX-XX need health key and we such pneumococcal disease. about and for clinical shared our can the into affirm Grant the pneumoniae advanced milestones as prevent Streptococcus invasive meningitis community including continues to in Infection the as I accomplishments for us. get PCV front with of

traditional as it well addressing novel than bacterial beyond Our intended disease improve while covering to new With to the currently technology, can to mRNA is serotypes circulation, in profile not we our immunogenicity responsible like of remaining comparable approaches, better the franchise diseases. as PCV vaccine most comes we pneumococcal an by Prevnar. go vaccines some for believe when existing technologies upon if maintaining

serotypes VAX-XX As the single a collection of spectrum vaccines standard result, a that marketed broad is includes our all by objective of replace covered of with the vaccine. for care currently the PCV to

VAX-XX quarter made turn let's VAX-XX application to to manufacturing and significant process product, our the submitted In with we've progress the IND drug fourth come. the what's we of the FDA. the XXXX for complete to GMP Now

expect With top of good of by the success now end of will of the immunogenicity top the of indication the VAX-XX VAX-XX and have results a safety, underway, Upon line for Phase study these patient. adult X/X data receipt we the probability announce in the clinical tolerability year. to line

XX objectives, safety, one we a is immunogenicity Phase Phase days will design X to will and healthy the Based going evaluate findings remain Prevnar dosing. safety This we and to of blinded evaluate success observer adults. X Now and Phase through will to study key is Phase larger us preclinical I'm randomized healthy aged and VAX-XX consistent than will of will you anticipate safety for a arms and care into enroll XX. equally worldwide. designed after randomized The making XX X XX profile, will be controlled to the data administered which X/X in our study billion it blind The portion about enable adults the criteria. our tolerability evaluated be dose a-go-no-go separate for before approximately of proceed walk study. these of of to VAX-XX doses X. standard and data XX more vaccine product to with DMC four that the VAX-XX to decision on tolerability adults doses to XXX PCV healthy enroll with XX each of generally and safety be selected three aged will portion to significantly assess and tolerability XX and Participants to the compare

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in arms XX rise approximately randomized and contained will in not Samples four ubt are XX are collected days participants a separate immunogenicity. the into For in measured serotypes antibody Participants VAX-XX four equally will immunogenicity assess after dosed. be fourfold PCV titers. Pneumovax to on XX additional based be and

observations on the data top period. will Our month throughout assessment, as and safety based line well tolerability results as one the this be as of this

of serotype bar is a is may is serotype new the study. not VAX-XX by X immunogenicity a goal regulatory It's theory outperform proof XX XX PCV a serotypes study. approval in providing for For a remember Phase a our basis this PCV that some to requirement important versus on protection. for which see to concept instead show We of

study. confidence X/X we to Ultimately, and study as how study In So the power based with inferiority antibody of a than standard the as a X All versus equal serotype on on the safety a in FDA inferiority this by is determine and against study tolerability. endpoint to to followed pivotal of OPA; outcomes other optimal functional six Phase serotype the of same greater XX for defined adult approved help the months and of we relative to limit interval will recent Phase PCV the primary pneumococcus accessible immunogenicity endpoint of assess XX% PCV VAX-XX measure dose for the potential PCV population. participants XX basis relative after non assess have care as will and the that responses X the This or OPA Phase be basis. there dosing total to of served Non XX in responses are PCV. of the seen the lower the range of is approval PCV XX. will FDA a the

we path We not as VAX-XX well just the to milestones same build to the approval as To continue add momentum. For in of regulators. beginning we is the with prior of our for second data adults VAX-XX ongoing study This required. data approvals, were field the these study PCV for X and The anticipated pursue XX infant in trial. to studies a in the efficacy completion plan multiple as first conduct older successful body phase XXXX. X This to of half is of XX is line of top this from the the Phase study. adults, of plan portion upon in

is based XX% for responses like a the superior all the U.S. an fall move conjugate study demonstrated immune we XXXX segment as of last strains disease the with line into were plan Prevnar important from serotypes, Grant VAX-XP over also to positive FDA. of meeting submissions data IND first clinical cover by Preclinical immune that part to comparable weeks As XX it in pneumococcal polysaccharide half circulating with our and ongoing also includes VAX-XP that currently in IgG top the an noted, data strategy application presented as adding to of during exhibited responses and it XX. our vaccines pre-IND showed pediatric

Additionally, and post titers elicited all by IgG as T-cell boost. the a VAX-XX demonstrated in serotypes immune dependent increase response

noted, As towards we IND program in Grant continue this filing. to an invest

also Yet A each VAX-AX A a VAX-AX polysaccharide indicated group group novel disability features XXX,XXX technology. significantly to a is worldwide, increased one infectious the our leverages by to has pharyngitis, globally. and cases million the of as as adults Group Strep decades, over resistance A where categorized Beyond flee VAX-AX conjugate past CDC our infection strep have opportunity we leaving a of proprietary A Strep conserved targets conjugated infection designed to highly vaccine our an school franchise a PCV protein whitespace, concerning to majority Strep death our with A candidates leverages platform known a disease aged is estimated break Case carrier. unique and Group prevent children. program threat. specific new throat, that disease related A in which ground of group in year. in and that prevalent It's strep deaths kids. have disease of strep leading an to the Group causes address results commonly antibiotic antigen both substantial pervasive XXX Strep the of caused illness

the site the over provide in guidance the XXXX. specific conjugation protein us to bond immune both timing precisely to Our to second providing turn present submission carrier, IND to VAX-PG on protein polysaccharide system. both program and anticipated allows look optimally epitope the We to With the to the T-cell technology forward that, updates. polysaccharide and avoiding B-cell I'll it to of the half Jeff

Jeff Fairman

tough population, that incorporates permit treat technology, that make the which protein protein cell periodontitis. resulting ability disease vaccine be XX% key vectors million therapeutic at porphyromonas severe inability impacts to at sufficient VAX-PG platform, synthesis to the at It novel per either losses of adults scale yield a the antigens. has for affects in all to XX year. our States antigens free disease. designed approximately are or the productivity enabled are our $XX billion to due is VAX-PG of in protein United key uniquely responsible Periodontal to disease conventional in to application nearly commercial to believe periodontal candidate adult Jim. production with make their our leverages VAX-PG pathogen supply. periodontal Thanks globally produced XX% gingivalis, we estimated

early to shared We Grant final program, as the continue and stage our end are work on to make this progress of nominate a candidate XXXX. by for planning VAX-PG

vaccine XpressCF treat preserving bacteria's to Beyond immunogenicity. platform free I who validated Andrew candidates leverage to complex in bacterial to breaking quick to our to mechanisms papers would financial novel which platform defense strain named are to or XXXX, allow down approach. over produce develop programs, new infections. we cell uniquely vaccines Numerous turn have like synthesis update. protein promoted chemistry platform us and that continue while call prevent our capable now will a of republished provide the our

Andrew Guggenhime

in R&D of and in our first to increase headcount growth, increase year year-over-year growth VAX-XP cover I'll Jeff. year statement, costs program Grant The our was summarized of the With expenses our by the for and increase details the driven with in a to our primarily for operations over an the in it our costs our points associated in summary, variances expenses income and remarks. result briefly to end VAX-XX primarily comparable to offset respect partially fourth public related the and G&A related of in XX-K before thanks, the a few as Great, periods was release. turning decrease filing our by closing results XXXX a costs. full financial reasons and press the In company. reflected are XXXX quarter headcount

full increase R&D. XXXX substantial a annualized QX, levels, in XXXX year expect we over forward, in and look a we particularly As expenses

advancing up VAX-XX in VAX-XP. significant is program, anticipation clinic, of increase primarily activities a of manufacturing for activities a our the X IND a into expenses scaling VAX-XX Phase expect in function and enabling R&D We

to balance the runway. cash Turning sheet and

ended strong in million a cash with a maintain to in this We follow and on $XXX.X sheet. estimated earlier an million cash, offering investments we continue net and $XXX.X We which raised in year, we XXXX balance equivalents completed proceeds.

forward, we study expenses Months at line Going clinical X/X operating of data through our least top announcement from the XX and that be expect capital the fund to requirements adults. will in sufficient phase expenditure VAX-XX balance pass our of sheet our

and over capital priorities up closing based our call to continue we Grant? line of some turn Grant for to progress. remain back remarks allocation will before We the our now I'll disciplined With Q&A. on that, for the in open

Grant Pickering

Thanks, by partners Andrew. been end, the some What progress many make joining XX-valent and year executing appreciate additional data focused for scale to year stage populations our by take and phase late franchise progresses and remain our with your level With would up an and clinical line sharing VAX-AX to year the as development, that, continue year company VAX-XP let's remarkable, of X/X top PCV PCV forward VAX-XX with with further us investing into we the and and like questions. VAX-PG. manufacturing optionality we has their will clinical ensure Operator? entire the coming to past manufacturing Vaxcyte today. have achieved is preparing We expanding updates and in for look I to interest program over to recognize the the the announce and The contributions. a team at the Lonza complexity given anticipated on for important one VAX-XX study associated

Operator

Our Instructions] America. question you. Patel first from comes with Bank Komal Thank [Operator of

may question. proceed You your with

Komal Patel

for taking everyone, questions. thanks Hi, my

outcome then of the facilitate takes And your Phase the parameters first management And trial? What a for -- vaccine what view on my which development? will sort would as are with study? its all X judge question vaccine to latest is, highly needed are the pneumococcal of market adult what management the key why winner [indiscernible] positive like product from the profile multi valent thoughts success scenario? So

Grant Pickering

Was that question for it? Thanks Komal. that

Komal Patel

Yes.

Speaker

Yes.

good. Very Okay.

to Officer let a success Jim, would you ahead? go the question with consider So the want our phase Jim answer Chief Wassil, Operating that do I'll ½ what out regard two parts to to one. of we study.

Jim Wassil

Sure.

call, So phase with starting safety a we are be analysis phase going X. we're in quickly and be as on to phase the X/X I going to in the the then said X shifting

doing X, Phase of and the be PCV we For between will a comparison VAX-XX the XX. our immunogenicity

is mean looking dose site our not that's to a expecting think be PCV I at. to if that good of better to a because of by we basis. where And serotype going our move as XX than is we'll be geometric serotype that into what a at specific because on able be are achieve X. Phase choice platform, Obviously, we'll doing ratio least conjugation we're

at to So if superiority serotype just we'll the even to to demonstrate requirement we half which move basis, a that of having to a forward But the the ultimately the be FDA licensure. to making stereotype as Phase able mention move choice dos care has serotype of of be standard X set a least to able aren't forward. to response on by and

if a achieve where able we're make not can forward. we've we to even superiority, response and move So large got immune a believe sufficient we room

Grant Pickering

with Great. recommendation. coverage well-positioned I relative getting for XX. potentially over of relates obtain And it your a that regard potentially that recommendation second aspects I recommendation preferred above then key part yes relative on as to [indiscernible] we and VAX-XX are And incremental preferred that think, the VAX-XX think to a two there could [indiscernible], mean, provide is to why track is PCV VAX-XX to

for above have amount So to the Merck coverage that vaccine would allowed as similar over which to of vaccine XX% to a the is expect XX% and to relative the had Prevnar XX-valent recommended advantage standalone the XX XX. be that we it to

an additional either recommendation PCV which care PCV the there's So the the level or of Pneumovax. confidence. is current But we XX plus important dimension, standard is in adults aspect that's why one from of XX have a of reason then ACIP

be valent polysaccharide would ACIP a eclipse a same the PCVs are XX And that and for that would coverage approach obviously in to PCV the only the that PCVs that of regimen of of regimen population, use like VAX-XX, and in part course with to reality are the Pneumovax XX is So the could entirely continues it in strains either in to way coverage cover of XX adequate older the the and that the the current vaccine not Pneumovax fully allow prevented that's children. XX. age to been open of point would a simplify the vaccine a boost altogether a which that single which a adult we to the door lowering the universal altogether prime vaccine sticking that's key is recommendation below remove

discussions meeting Now, about Pneumovax October on. age the at discussed But the boost lowering XX. there real were was last to that interfere ACIP down used where way the the with having PCV a they later there could anxiety with in

we that be remove preferred to if regimen, incremental able which could the we of a argument compelling market. recommendation justify So Pneumovax deliver will adult that think the we from and we believe coverage in could can that kind be a

Komal Patel

much. you, so Thank

Grant Pickering

Patel. thanks Yes,

Operator

Thank you.

Cantor. with comes Chen Louise Our next from question

question. may with your You proceed

Louise Chen

progress this Hi, the congratulations my for And all quarter. thanks on taking question.

to for study. is have efficacy good II last do And you. I that the do you about this question Phase two space. plan and of I both it your in you for aside, then how so of compete these some will have your to market. Thank think with the playing out how together? is secondly, in then, ACIP titer you if companies VAX-XP how corresponding question see the did How VAX-XX larger fourfold portion them recommendation first And rise So of you in market make you think VAX-XX antibody you effectively to market you do

Grant Pickering

Louise. you, thank Great,

think three-part that was I a question.

about piece. take potentially the then and So how can we how oligopolists, going would are for the the think VAX-XP fourfold fourfold comment I then rise rise on two and piece. that first the and to of with to coexisting rationale Jim we compete VAX-XX parts Maybe the ask

think very substantial and formidable I Pfizer in that led stake. was Gardasil has time-and-time for in vaccines that precedent tri is Gardasil vested Merck extremely which in over in been think lesser way greater the are to Cervarix quarter the have altogether. there view a spectrum this eventually we whether competitors I years we've versus from interest yes, So But a Cervarix market of broader obviously valent of it was and seen maintaining vaccine, it the U.S. vaccines again usurping flu the valent withdrawal their to HPV valent whether who resulting use the coverage

one So broader components spectrum path a where bacterial are produce to a infections. approach that able types us path to such basic to found these leverage that same on put resulted we we're the way we of is have prevent effective to the But on in an versions.

conduct we're a perspective should perspective and us if deliver a I us, justify for key ACIP. to terms would so from through lines And a have able to regulatory the what position along then in a the preferred of compelling it both described case of in what just a recommendation, put the to makers decision

can I can in for of recommendation us magnitude, the sort we of we a supply and of think deliver put profile volume that that sort of and need if deploy market So allow of critical singular if a reps these sales decisions It's deliver XXXXs coverage. is kind strong it'll position not sober really bodies really a that drive adoption. a into universal about each would making are to where you to this nation

but we're about we've this we're got and that ourselves not kind short long in moment. we've going that’s to way been of to think I go. a we're Obviously how So sell it well-capitalized well-positioned thinking

unique we've same without add to have that VAX-XP, VAX-XX this coverage do As realized that immunological in. incremental and we to it facing diminution the the has ability relates resulted conventional chemistry

four the have shorter to wings you virtue VAX-XP products in in to of single a occurs by have initially waiting but And market, dose actually bringing the receive they the developing in It's if timeframe. indication will cascade we this so, these this as vaccines do it’s that the you of terms over adult a month population. in opposed pediatric vaccines path, moment XX a where do

puts infants. pace adult of development ahead naturally of it So

adult an again as scenario where where imagine everything VAX-XP and VAX-XX initially then, come adults And could infants. thereafter you obtain and in by approval and could an then goes So into approval infant in hope we a recommendation followed recommendation. could cascade

want But natural those included indication, incremental So, VAX-XP so of epidemiologically makes cascading to a out fast circulation why of into in there be we And sort we as have that's VAX-XP strains a them, to more only strategy. distance would those and work them that it vaccinate market. both keep when how strains because rationale that's is effective to And behind when relevant. and the how been it that's historically progression would or the effectively unlikely, be you forward. with taken these these within the vaccines same replacement more see in of a have striking

that ask comment approach. fourfold Jim, to So, two the I'll answers on if rise. the parts, Jim first

Jim Wassil

Sure, thanks Grant.

fourfold sort a two the of rise, With part answer. it's

The first non-inferiority of and whether of looked we recent here. approvals at license too versus they get is comparison Pneumovax to PCVXX or determine PCVXX a not the PCVXX. use

However, they a so PCVXX. PCVXX rise looked at fourfold superior versus rise, looked fourfold statistically at

able two based to VAX-XX. be felt to to get precedent options on we So an we to for had us approval available

competitor, PCVXX the still we we are do indication decided of as with us give recommendation recommendation go PCVXX rise comparison the to October the based were to on X. precedent we Pneumovax regulatory by use that ACIP Since ACIP we that the is for and with success against the going to use as doing our and making good and or a Phase well fourfold and that's will the comparison in to believe PCVXX. PCVXX is the where Now a recommendation,

Grant Pickering

Louise. Thanks Okay.

Louise Chen

Thank you.

Operator

Thank next Instructions] you. Stringer from Joseph with [Operator Needham & comes question Company. Our

question. your with proceed may You

Ben Ricardo

Joseph this for Stringer. is for on question. Hi, Thanks our Ben taking Ricardo

of related one Just impacts. the about COVID sort

impacts or about talk coming one on a a the trial on season, based up? COVID larger-than-anticipated potential winter, just a having we could smaller lot. upcoming So Thanks any VAX-XX

Jim Wassil

So for Wassil. this to Wassil program have And Jim is the on Jim well. as expect don’t we're COVID an impact. We seeing clinical

foresee issues is to don’t to thing; X XX-year-olds. will that XX, sufficiently that study any XX initial same Phase Our large is to is XX-year-old in cohort that with age enrollment. cohort healthy XX-year-old there. And we sufficient XX-year-old have The

or during, experimental actually an is not after. Our vaccine main six-months before, criteria exclusion for having either enrollment

of Given received majority already shot. their have individuals the COVID the all

without enroll We any subjects to are having exclusion. able sufficient

as be able along So we originally we fast -- to anticipated. move as will feel just

Grant Pickering

maybe is there a follow-on these seasonal one that isn’t of conjugate nice studies safety on and executing are of immunogenicity. that Ben, to that Yes. worth just these then pneumococcal aspects a and pointing focused trials, vaccine out, developing component the

study, So, immunogenicity. been Phase the them there vaccinated XX component they rate particular study Strep following to just to looking where we're These Phase subjects ½ in X are pneumonia have confirm isn’t an don’t infection who've contract follow a for that We in immunizing subjects this. to don’t the days at infection. and this the

These endpoints. So validated field to we don’t need when run surrogate are efficacy. show to those studies the convention immuno are efficacy have big you that

So that's not trials. executing particular an aspect of these

Ben Ricardo

thank you. Great,

Grant Pickering

Ben. Thanks,

Operator

further questions I'm And not further to would for any at I back showing any you. this call Grant Thank remarks. Pickering time. turn the over now like to

Grant Pickering

a the good today. call just I want you, for And your participating your have Thank all week. in much. Well, to very of rest you interest and thank for

Operator

concludes call. Thank Thank today's you you. for participating. This conference

may disconnect. You now

Vaxcyte (PCVX) 1 Mar 222021 Q4 Earnings call transcript