Market ConditionsManagement expects ongoing penetration of the unvaccinated adult cohort and observed revaccination practices to sustain substantial market opportunity beyond 2030.
Pipeline DevelopmentThe shingles Phase 2 in adults 50-69 remains on track for updates, but future success depends on key metrics such as one-month-post-second-dose CD4+ T-cells.
Sales PerformanceManagement had anticipated seasonality to reduce Q4 sales by approximately 15%, but the actual decrease was 10%.