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    Tom Shrader • BTIG

    Tom Shrader's questions to Novavax Inc (NVAX) leadership

    Tom Shrader's questions to Novavax Inc (NVAX) leadership • Q2 2025

    Question

    Tom Shrader of BTIG asked if the 2027 profitability target assumes flat worldwide COVID-19 vaccine usage. He also questioned the scientific feasibility of developing a multi-year influenza vaccine given constant strain drift.

    Answer

    EVP, CFO & Treasurer Jim Kelly clarified that the path to profitability by 2027 is not dependent on a single assumption but can be achieved through multiple avenues, including COVID vaccine royalties, milestones from the CIC/flu combo vaccine, or new collaborations, all supported by a leaner cost structure. EVP, Head of Research & Development Ruxandra Draghia-Akli explained that while a true multi-year universal flu vaccine remains an elusive goal, Novavax's technology shows promise for broader and more durable protection within a single season, which would be a significant scientific advance.

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    Tom Shrader's questions to Vaxcyte Inc (PCVX) leadership

    Tom Shrader's questions to Vaxcyte Inc (PCVX) leadership • Q4 2024

    Question

    Tom Shrader of BTIG inquired about the current medical practice and reimbursement landscape for administering a booster PCV shot to adults at age 65 who were previously vaccinated at age 50, and whether a formal ACIP recommendation is essential.

    Answer

    CEO Grant Pickering and EVP & COO Jim Wassil explained that while a booster at 65 is not yet codified, ACIP discussions and historical precedent with multi-dose vaccine schedules suggest it is the likely future direction, pending data from newer vaccines like Vaxcyte's. They noted that reimbursement for multiple doses has not been a significant issue, and the high return on investment for vaccines often leads to administration upon patient request within the appropriate age groups.

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