Moderna Aims for 10 New Approvals by 2027
CAMBRIDGE, MA - Moderna Inc. (NASDAQ: MRNA) has outlined its strategic focus on obtaining up to 10 new product approvals within the next three years. This plan includes increasing sales of its current vaccines and reducing annual research and development expenses by $1.1 billion by 2027.
In a recent letter to shareholders, CEO Stéphane Bancel evaluated the company’s performance in 2024 and acknowledged the challenges faced in the competitive vaccine market, highlighting the need for strategic adjustments. Despite these hurdles, the company has made significant progress, particularly with the development of its RSV vaccine, mRESVIA®, which has become Moderna's second approved mRNA product.
The company’s late-stage product pipeline has also shown promising results. Four positive Phase 3 data points were reported across its respiratory portfolio, and a Phase 3 study for the norovirus vaccine has been initiated. Additionally, Moderna's collaboration with Merck on a personalized neoantigen therapy (INT) has progressed to a third Phase 3 trial.
Moderna's financial strategy includes a disciplined approach to investment and cost management. The company reduced its cash operating costs by approximately 25% compared to last year and plans to further decrease research and development expenses.
The company’s management team has been strengthened with key promotions and the addition of two new board members, David Rubenstein and Abbas Hussain. Moderna has also partnered with OpenAI to leverage technology and artificial intelligence in its operations.
Looking towards 2025, Moderna's priorities include maximizing the availability and market share of its Spikevax® and mRESVIA vaccines, achieving up to 10 product approvals to drive sales growth, and continuing to enhance efficiency while maintaining or reducing R&D and SG&A expenses.
Moderna's commitment to environmental, social, and governance (ESG) matters remains strong, with a focus on achieving net-zero carbon emissions, promoting inclusivity and diversity, and engaging with communities to address inequalities.
The CEO of the company expressed confidence in Moderna's ability to meet its operational goals and enhance its commercial capabilities, emphasizing the positive impact of mRNA therapies on human health.