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Moderna | 8-K: Updates of Progress on the Pipeline of Transformative mRNA Medicines and Preliminary Financial Results

SEC announcement ·  Jan 8 00:00
Summary by Moomoo AI
On January 8, 2024, Moderna, Inc. released preliminary financial results for the fiscal year ended December 31, 2023, during its presentation at the 42nd Annual J.P. Morgan Healthcare Conference. The company reported unaudited product sales of approximately $6.7 billion, primarily from its COVID-19 vaccine, which included about $0.6 billion in deferred revenue from its collaboration with GAVI, The Vaccine Alliance. Moderna also disclosed that its cash, cash equivalents, and marketable securities exceeded $13 billion as of year-end 2023. The audit of the financial statements is still in progress, and the final figures will be presented on the earnings call scheduled for February 22, 2024. Moderna's CEO, Stéphane Bancel, highlighted the company's increase in U.S. COVID-19 market share to 48% and the upcoming launch of its second...Show More
On January 8, 2024, Moderna, Inc. released preliminary financial results for the fiscal year ended December 31, 2023, during its presentation at the 42nd Annual J.P. Morgan Healthcare Conference. The company reported unaudited product sales of approximately $6.7 billion, primarily from its COVID-19 vaccine, which included about $0.6 billion in deferred revenue from its collaboration with GAVI, The Vaccine Alliance. Moderna also disclosed that its cash, cash equivalents, and marketable securities exceeded $13 billion as of year-end 2023. The audit of the financial statements is still in progress, and the final figures will be presented on the earnings call scheduled for February 22, 2024. Moderna's CEO, Stéphane Bancel, highlighted the company's increase in U.S. COVID-19 market share to 48% and the upcoming launch of its second product, an RSV vaccine. The company anticipates regulatory approvals for the RSV vaccine in the first half of 2024. Moderna also outlined its financial framework for 2024-2026, projecting approximately $4 billion in product sales for 2024, with expectations of returning to sales growth in 2025 and breaking even in 2026. The company's pipeline includes nine late-stage programs with key milestones expected in the next two years, covering vaccines for respiratory syncytial virus, COVID-19, seasonal flu, and cytomegalovirus, as well as oncology therapeutics and treatments for rare diseases like propionic acidemia and methylmalonic acidemia.

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