Press release
Moderna Provides Business and Pipeline Updates at 42nd Annual J.P. Morgan Healthcare Conference
Company announces product sales for 2023 of approximately $6.7 billion (unaudited); U.S. COVID-19 market share season to date increased to 48% in 2023, up
About this update from Moderna, Inc.
[{"type":"text","content":"Company announces product sales for 2023 of approximately $6.7 billion (unaudited); U.S. COVID-19 market share season to date increased to 48% in 2023, up from 37% in 2022Company reiterates 2024 expected product sales of approximately $4 billion, planned return to sales growth in 2025 and expectation to break even in 2026 through product launches and disciplined investmentCompany highlights nine late-stage programs with anticipated milestones in 2024 and 2025CAMBRIDGE, MA / ACCESSWIRE / January 8, 2024 / Moderna, Inc. (NASDAQ:MRNA) today announced business updates and progress on the Company's pipeline of transformative mRNA medicines. Moderna enters 2024 with 45 therapeutic and vaccine programs, nine of which are in late-stage development.\"In 2023, we achieved $6.7 billion in product sales and resized our COVID-19 manufacturing footprint for the endemic setting. Our team significantly increased our COVID-19 market share to 48% in the U.S,\" said Stéphane Bancel, Chief Executive Officer of Moderna. \"We are preparing for the launch of Moderna's second product, our RSV vaccine. 2024 is going to be an exciting year for the Company with multiple milestones across our nine late-stage programs. Through these product launches, we are focused on returning to sales growth in 2025.\"Jamey Mock, Chief Financial Officer of Moderna, will present an update on the Company and its pipeline of mRNA development programs on Monday, January 8th, 2024, at 3:45 p.m. PT/6:45 p.m. ET at the 42nd Annual J.P. Morgan Healthcare Conference. A live webcast of both the presentation and the question-and-answer session will be available under \"Events and Presentations\" in the Investors section of Moderna's website at investors.modernatx.com. A replay of the webcast will be archived on Moderna's website for at least 30 days following the presentation.Summary of Financial Updates2023 financial updates: Moderna achieved 2023 COVID-19 vaccine sales of approximately $6.7 billion (unaudited). This includes approximately $6.1 billion of COVID-19 vaccine sales, and recognition of approximately $0.6 billion of deferred revenue related to the Company's efforts with GAVI, The Vaccine Alliance. Cash, cash equivalents and investments at year-end 2023 were in excess of $13 billion. Full financial details will be reported on the Company's earnings call on February 22, 20...