Vaxcyte (NasdaqGS:PCVX) Q4 2025 Earnings call February 24, 2026 04:30 PM ET Company ParticipantsAndrew Guggenhime - President and CFOAsad Haider - Managing DirectorDina Ramadane - Biotech Equity Research AssociateEvan Wang - VP, Equity ResearchGrant Pickering - CEOJim Wassil - EVP and COOJonathan Miller - Equity Research AssociateMike Miletich - Chief Commercial OfficerConference Call ParticipantsCarter Gould - Managing Director and Senior AnalystJoseph Stringer - Senior AnalystRoger Song - Senior Equity Re ...

Vaxcyte (NasdaqGS:PCVX) Q4 2025 Earnings call February 24, 2026 04:30 PM ET Speaker13Good afternoon. My name is Chloe. I will be your conference operator for the Vaxcyte fourth quarter and full year 2025 financial results conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer period. If you would like to ask a question during this time, simply press star followed by 1 on your telephone keypad. If you would like to ...

Core Insights - Vaxcyte, Inc. reported positive topline safety, tolerability, and immunogenicity data from the Phase 2 dose-finding study of VAX-24 in healthy infants, with further data expected by the end of 2025 [1][3] - The company has initiated the second and final stage of the VAX-31 infant Phase 2 dose-finding study, with topline data anticipated in mid-2026 [1][5] - Vaxcyte plans to initiate a Phase 3 pivotal, non-inferiority study for VAX-31 in adults by mid-2025, with topline data expected in 2026 [1][8] - The company announced VAX-XL, a third-generation pneumococcal conjugate vaccine candidate aimed at expanding coverage [1][5] - As of March 31, 2025, Vaxcyte had approximately $3.0 billion in cash, cash equivalents, and investments [1][11] PCV Franchise Developments - VAX-24 demonstrated a well-tolerated safety profile similar to Prevnar 20® across all doses studied, with substantial immunoglobulin G (IgG) and opsonophagocytic assay (OPA) immune responses observed [3][4] - The mid-dose of VAX-24 met the target Phase 2 non-inferiority criteria for seroconversion rates and IgG Geometric Mean Ratio (GMR) point estimates [3][7] - VAX-31 has progressed to the second stage of its Phase 2 study, evaluating safety and immunogenicity compared to PCV20 in infants [5][7] Financial Performance - For Q1 2025, Vaxcyte reported a net loss of $140.7 million, compared to a net loss of $95.0 million in Q1 2024 [11][21] - Research and development expenses increased to $148.1 million in Q1 2025 from $94.6 million in Q1 2024, primarily due to development activities for PCV programs [11][21] - General and administrative expenses rose to $32.7 million in Q1 2025 from $19.9 million in Q1 2024, attributed to higher personnel costs [11][21] Key Milestones and Future Plans - The company plans to announce the balance of the VAX-24 Phase 2 study data, including final safety and full post-dose data, by the end of 2025 [6][9] - Vaxcyte anticipates initiating a Phase 3 program with an optimized dose formulation of VAX-24 or VAX-31, pending the VAX-31 topline Phase 2 study results [5][8] - Upcoming investor conferences will feature management participation, providing opportunities for engagement with stakeholders [10][13]