“This could be a first-in-class vaccine for Lyme disease, the phase three VALOR trial... The study, we expect to read out first half of this year.”

In context

“n a randomized experience in phase two. So and we're currently transitioning all the work to the US to start the phase one studies in the US, including manufacturing in the US. Albert Bourla: Thank you. Next question, please. Operator: Thank you. We'll go next to Alexandria Hammond with Wolfe Research. Please go ahead. Alexandria Hammond: Thanks for taking the question. One of the key readouts guided for 2026 is that Lyme disease vaccine VALOR study. But a few on this. When could we expect an update, and what are expectations for the launch if positive? What does vaccine contracting look like and what channels will be the key target for you? And I guess, finally, how big could this opportunity really be? Albert Bourla: Yes. Lung disease? Yes. Thank you. I'll start. So thank you very much. This could be a first-in-class vaccine for Lyme disease, the phase three VALOR trial. It's a multivalent protein unit vaccine targeting all six outer surface proteins of Borrelia burgdorferi. The study, we expect to read out first half of this year. Just a reminder, approximately 400,000 people in the US and 132,000 people in Europe are affected by Lyme disease. And as you know, significant long-term morbidity and long-term sequelae. So specifically in certain regions of the world could be very, very important. Albert Bourla: Thank you, Chris. We are eagerly awaiting to see the data, but that could be a huge solution for an unmet medical need. Let's move to the next question, please. Operator: Thank you. We'll go next to Mohit Bansal with Wells Fargo. Please go ahead. Mohit Bansal: Great. Thank you very much for taking my question. And one more on the Vesper program here. Would like to understand what kind of target profile you are”