Moderna targets 10 new approvals by 2027

CAMBRIDGE, MA - Moderna Inc . (NASDAQ: BMV:MRNA ) has announced its strategic focus on securing up to 10 new product approvals over the next three years, a plan which includes driving sales of its existing vaccines and reducing annual research and development expenses by $1.1 billion by 2027.

In its most recent letter to shareholders, CEO Stéphane Bancel reflected on the company's performance in 2024, acknowledging the challenges faced in a competitive vaccine market and the need for strategic adjustments. Despite these obstacles, the company has made significant progress, particularly with the development of mRESVIA®, its RSV vaccine for older adults, marking Moderna (NASDAQ:MRNA )'s second approved mRNA product.

The company's late-stage pipeline has also shown promise, with four positive Phase 3 data readouts across its respiratory portfolio and the initiation of a Phase 3 study for its norovirus vaccine. Additionally, Moderna's collaboration with Merck (NS:PROR ) on an individualized 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 has already reduced its cash operating cost by nearly 25 percent compared to the previous year and plans to further reduce research and development costs.

The company's executive team has been strengthened with key promotions and the addition of two new board members, David Rubenstein and Abbas Hussain. Moderna has also entered into a collaboration with OpenAI to leverage technology and AI in its operations.

Looking ahead to 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 improve efficiency to maintain or reduce R&D and SG&A expenses.

Moderna's commitment to environmental, social, and governance (ESG) issues remains strong, with a focus on achieving net-zero carbon emissions, fostering inclusion and diversity, and engaging with communities to address inequality.

The company's CEO expressed confidence in Moderna's ability to meet its execution targets and build its commercial capabilities, emphasizing the potential of mRNA medicines to positively impact human health.

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Source: Investing.com