Moderna, Inc. · NASDAQ:MRNA

Moderna — Q2 2024 Earnings Presentation

36 slides from Moderna's earnings presentation, Aug 1, 2024

Slide 2: Forward-looking statements and disclaimer
Forward-looking statements and disclaimer This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding: Moderna’s expected product sales in 2024 and trends informing Moderna's 2024 sales o
Slide 3: 2Q24 earnings call agenda
2Q24 earnings call agenda Business Review Stéphane Bancel, CEO Financials Jamey Mock, CFO R&D/Clinical Programs Stephen Hoge, M.D., President Looking Ahead Stéphane Bancel, CEO © 2024 Moderna, Inc. All rights reserved.
Slide 4: Business Review: respiratory franchise
2Q 2024 Update| Business Review Our respiratory franchise continued to deliver in 2Q24 and is poised to impact millions globally this year and beyond COVID-19 482,000 hospitalizations in the U.S. in the most recent season Commercial (October 2023 – June 2024)1 RSV 181,000 hospitalizations in the U.S
Slide 5: Business highlights
2Q 2024 Update| Business Review Business highlights 2024/2025 RSV vaccine BARDA3 Japanese co- COVID variants approval and launch agreement promotion partnership Moderna has • Following FDA approval Project award of $176 Joint agreement with manufactured vaccines and ACIP1 recommendation, million thr
Slide 6: 2Q24 financial highlights
2Q 2024 Update| Business Review 2Q24 financial highlights 2Q24 GAAP financial results Revenue: Net income (loss): Cash and investments: $241 million $(1.3) billion $10.8 billion Continuing to execute with financial discipline Reduced operating expenses1 by $607M from 2Q23 to 2Q24 1. Cost of goods so
Slide 7: Moderna welcomes new Board member David M. Rubenstein
2Q 2024 Update| Business Review Moderna welcomes new Board member David M. Rubenstein ● Co-Founder and Co-Chairman of The Carlyle Group, and previous Co-Chief Executive Officer ● Chairman of the Boards of the Council on Foreign Relations, the Economic Club of Washington, D.C. and on the boards of se
Slide 8: 2Q24 earnings call agenda
2Q24 earnings call agenda Business Review Stéphane Bancel, CEO Financials Jamey Mock, CFO R&D/Clinical Programs Stephen Hoge, M.D., President Looking Ahead Stéphane Bancel, CEO © 2024 Moderna, Inc. All rights reserved.
Slide 9: 2Q24 product sales of $184M, 1H total of $351M
2Q 2024 Update| Financial Review 2Q24 product sales of $184M, 1H total of $351M Product Sales Q1 sales in U.S. and Rest of World Driven primarily by U.S. sales 9 © 2024 Moderna, Inc. All rights reserved.
Slide 10: Second quarter 2024 financial results
2Q 2024 Update| Financial Review Second quarter 2024 financial results Change In $ millions, except per share amounts 2Q 2024 2Q 2023 (2Q'24 vs. 2Q'23) Net product sales $ 184 $ 293 $ (109) (37)% Other revenue1 57 51 6 12 % Total revenue 241 344 (103) (30)% Cost of sales 115 731 (616) (84) % Researc
Slide 11: Continued efficiency gains in 2Q24, reducing SG&A by 19%
2Q 2024 Update| Financial Review Continued efficiency gains in 2Q24, reducing SG&A by 19% Scaled the company and invested in people, processes and technology SG&A down 19% Reduced purchased year-over-year Laid digital foundation services and use of with SAP/ERP system external consultants and strong
Slide 12: Updated 2024 financial framework
2Q 2024 Update| Financial Review Updated 2024 financial framework • $3.0 - $3.5 billion in 2024 product sales Net sales • 2H24 sales timing subject to regulatory approvals; currently expecting sales split of 40% - 50% in Q3; with the balance in Q4 Cost of sales 40% - 50% of product sales R&D ~$4.5 b
Slide 13: 2Q24 earnings call agenda
2Q24 earnings call agenda Business Review Stéphane Bancel, CEO Financials Jamey Mock, CFO R&D/Clinical Programs Stephen Hoge, M.D., President Looking Ahead Stéphane Bancel, CEO © 2024 Moderna, Inc. All rights reserved.
Slide 14: Moderna's development portfolio
2Q 2024 Update| R&D/Clinical Programs Moderna’s development portfolio 2Q24 updates in respiratory vaccines, oncology therapeutics, and rare disease therapeutics Respiratory Latent + other vaccines vaccines mRNA platform Rare disease Oncology therapeutics therapeutics 14 © 2024 Moderna, Inc. All righ
Slide 15: Respiratory vaccines
2Q 2024 Update| R&D/Clinical Programs Respiratory vaccines RSV Flu Next-gen COVID Flu/COVID mRNA-1345 mRNA-1010 mRNA-1283 combo ● Received FDA approval; ● Phase 3 trial met primary mRNA-1083 ● Engaging with launched in U.S. in July regulators efficacy endpoint, demonstrating non-inferior ● Phase 3 t
Slide 16: Oncology therapeutics: INT (mRNA-4157)
2Q 2024 Update| R&D/Clinical Programs Oncology therapeutics: INT (mRNA-4157) Individualized Neoantigen Therapy Mechanism of action development program Phase 3 studies: ● Adjuvant melanoma ● Adjuvant non-small cell lung cancer Phase 2/3 and Phase 2 studies ● Randomized Phase 2/3 neoadjuvant/adjuvant
Slide 17: INT: sustained improvement of recurrence-free survival at 3 years
2Q 2024 Update| R&D/Clinical Programs INT (mRNA-4157): sustained improvement of primary efficacy endpoint, recurrence-free survival, in Phase 2 study against pembrolizumab alone in adjuvant melanoma at 3-year follow-up 17 © 2024 Moderna, Inc. All rights reserved.
Slide 18: INT: distant metastasis-free survival at 3-year follow-up
INT (mRNA-4157): sustained improvement of secondary 2Q 2024 Update| R&D/Clinical Programs endpoint, distant metastasis-free survival, against pembrolizumab alone at 3-year follow-up 18 © 2024 Moderna, Inc. All rights reserved.
Slide 19: INT: 3-year follow-up on safety
2Q 2024 Update| R&D/Clinical Programs INT (mRNA-4157): 3-year follow-up on safety demonstrates a manageable profile consistent with the primary analysis 19 © 2024 Moderna, Inc. All rights reserved.
Slide 20: MMA candidate mRNA-3705 selected for FDA START program
2Q 2024 Update| R&D/Clinical Programs Rare disease therapeutics: MMA candidate (mRNA-3705) selected for FDA START program ● mRNA-3705 is being investigated in a Phase 1/2 study, an adaptive, open- label study designed to evaluate safety and tolerability ● The START pilot program is an FDA program to
Slide 21: 2Q24 earnings call agenda
2Q24 earnings call agenda Business Review Stéphane Bancel, CEO Financials Jamey Mock, CFO R&D/Clinical Programs Stephen Hoge, M.D., President Looking Ahead Stéphane Bancel, CEO © 2024 Moderna, Inc. All rights reserved.
Slide 22: COVID contracting mostly complete in a competitive market
2Q 2024 Update| Looking Ahead COVID contracting mostly complete in a highly competitive market United States European Union Rest of World Most of our contracts are now Company now expects Multiple signed finalized; increased very low EU sales in 2024 contracts in place competitive pressure in 2024 P
Slide 23: Ready to supply all markets in 2024-2025 COVID season
2Q 2024 Update| Looking Ahead Moderna is ready to supply all markets in the 2024-2025 COVID season with Spikevax formulas North America Regulators targeting KP.2 strain Our mRNA platform Rest of World allows us to pivot Regulators quickly to ensure targeting Spikevax availability JN.1 strain for all
Slide 24: Ready to supply Spikevax doses to all U.S. segments
2Q 2024 Update| Looking Ahead Moderna will be ready to supply millions of Spikevax doses to all U.S. market segments simultaneously upon regulatory approval Supporting the whole healthcare system to be ready Industry-leading supply chain to vaccinate customer service National & regional chain pharma
Slide 25: Education and awareness to drive vaccination rates
2Q 2024 Update| Looking Ahead We are focused on education and awareness to drive vaccination rates Long COVID education In-season outreach “Back to Basics” campaign to at-risk adults Highlights dangers of Long COVID Raises awareness of how vaccines and how vaccines can help reduce the severity of vi
Slide 26: RSV vaccine approved and recommended for a large U.S. market
2Q 2024 Update| Looking Ahead Moderna’s RSV vaccine has been approved and recommended for a large market in the U.S. Approval and ACIP recommendations FDA approved mRESVIA in May 2024 ● mRESVIA now available in retail pharmacies ACIP recommendation June 2024 ● mRESVIA on par with competitor vaccines
Slide 27: mRESVIA launch: targeting the pharmacy segment
2Q 2024 Update| Looking Ahead mRESVIA launch: targeting the pharmacy segment in the U.S. Commercial focus on reaching vaccinators Deliveries National & regional underway as chain pharmacies >95% of RSV of July 2024 vaccines administered Independent pharmacies <5% of RSV Highly HCPs/IDNs/ Public heal
Slide 28: Major upcoming pipeline milestones
2Q 2024 Update| Looking Ahead Major upcoming pipeline milestones Respiratory Latent + Other Oncology Rare disease vaccines vaccines therapeutics therapeutics ● COVID: Spikevax 2024-2025 ● CMV: Phase 3 data ● INT: Completion of ● PA and MMA: formula approval and launch enrollment in Initiation of piv
Slide 36: Moderna's pipeline: rare disease + other therapeutics
2Q 2024 Update| Appendix Moderna’s pipeline: rare disease + other therapeutics *Vertex to pay milestone and royalties 36 © 2024 Moderna, Inc. All rights reserved.

Moderna — Q2 2024 Earnings Presentation on 6ix

Moderna — Q2 2024 Earnings Presentation

Slide 1: Second Quarter 2024 Financial Results

Slide 2: Forward-looking statements and disclaimer

Slide 3: 2Q24 earnings call agenda

Slide 4: Business Review: respiratory franchise

Slide 5: Business highlights

Slide 6: 2Q24 financial highlights

Slide 7: Moderna welcomes new Board member David M. Rubenstein

Slide 8: 2Q24 earnings call agenda

Slide 9: 2Q24 product sales of $184M, 1H total of $351M

Slide 10: Second quarter 2024 financial results

Slide 11: Continued efficiency gains in 2Q24, reducing SG&A by 19%

Slide 12: Updated 2024 financial framework

Slide 13: 2Q24 earnings call agenda

Slide 14: Moderna's development portfolio

Slide 15: Respiratory vaccines

Slide 16: Oncology therapeutics: INT (mRNA-4157)

Slide 17: INT: sustained improvement of recurrence-free survival at 3 years

Slide 18: INT: distant metastasis-free survival at 3-year follow-up

Slide 19: INT: 3-year follow-up on safety

Slide 20: MMA candidate mRNA-3705 selected for FDA START program

Slide 21: 2Q24 earnings call agenda

Slide 22: COVID contracting mostly complete in a competitive market

Slide 23: Ready to supply all markets in 2024-2025 COVID season

Slide 24: Ready to supply Spikevax doses to all U.S. segments

Slide 25: Education and awareness to drive vaccination rates

Slide 26: RSV vaccine approved and recommended for a large U.S. market

Slide 27: mRESVIA launch: targeting the pharmacy segment

Slide 28: Major upcoming pipeline milestones

Slide 29: Looking Ahead

Slide 30: Save the Date: R&D Day

Slide 31: Q&A

Slide 32: Appendix: Moderna's Pipeline

Slide 33: Moderna's pipeline: respiratory vaccines

Slide 34: Moderna's pipeline: latent + other vaccines

Slide 35: Moderna's pipeline: oncology

Slide 36: Moderna's pipeline: rare disease + other therapeutics