Moderna Announces Supply Agreement with South Korea for Additional 20 Million Doses of Moderna’s COVID-19 Vaccine or Updated Booster Candidate in 2022

Rhea-AI Summary

Moderna, Inc. (NASDAQ:MRNA) announced a revised supply agreement with the South Korean government for 20 million doses of its COVID-19 vaccine or an updated booster candidate. This includes 15 million doses for the third quarter and 5 million doses for the fourth quarter of 2022. CEO Stéphane Bancel expressed gratitude for South Korea's proactive planning for the fall 2022 booster season. The company emphasizes its commitment to combating the COVID-19 pandemic, underscoring its evolution from research to a leading enterprise in mRNA therapeutics and vaccines.

Positive

• Secured a revised supply agreement for 20 million doses.
• 15 million doses expected in Q3 2022, ensuring timely delivery.
• Demonstrates commitment to ending the COVID-19 pandemic.

Negative

• None.

Agreement includes 15 million doses for delivery in the third quarter of 2022 and 5 million doses for delivery in the fourth quarter of 2022

CAMBRIDGE, MA / ACCESSWIRE / December 27, 2021 / Moderna, Inc. (NASDAQ:MRNA), a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, today announced a revised supply agreement with the government of South Korea for 20 million doses of Moderna's COVID-19 vaccine or an updated booster vaccine candidate, if authorized. Under the terms of the agreement, Moderna expects to deliver 15 million doses in the third quarter of 2022 and 5 million doses in the fourth quarter of 2022.

"We thank the government of South Korea for their planning ahead for the fall 2022 booster season with this supply agreement for our mRNA COVID-19 vaccine and booster," said Stéphane Bancel, Moderna's Chief Executive Officer. "We remain committed to helping to end the COVID-19 pandemic."

About Moderna

In 10 years since its inception, Moderna has transformed from a science research-stage company advancing programs in the field of messenger RNA (mRNA), to an enterprise with a diverse clinical portfolio of vaccines and therapeutics across six modalities, a broad intellectual property portfolio in areas including mRNA and lipid nanoparticle formulation, and an integrated manufacturing plant that allows for both clinical and commercial production at scale and at unprecedented speed. Moderna maintains alliances with a broad range of domestic and overseas government and commercial collaborators, which has allowed for the pursuit of both groundbreaking science and rapid scaling of manufacturing. Most recently, Moderna's capabilities have come together to allow the authorized use of one of the earliest and most-effective vaccines against the COVID-19 pandemic.

Moderna's mRNA platform builds on continuous advances in basic and applied mRNA science, delivery technology and manufacturing, and has allowed the development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases, cardiovascular diseases and auto-immune diseases. Moderna has been named a top biopharmaceutical employer by Science for the past seven years. To learn more, visit www.modernatx.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including regarding: the Company's development of an updated booster vaccine candidate against COVID-19; the Company's contract to sell its COVID-19 vaccine or an updated booster candidate to the government of South Korea; and the timing for delivery of those sales. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna's control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include those risks and uncertainties described under the heading "Risk Factors" in Moderna's most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (SEC) and in subsequent lings made by Moderna with the SEC, which are available on the SEC's website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna's current expectations and speak only as of the date hereof.

Moderna Contacts
Media:
Colleen Hussey
Director, Corporate Communications
617-335-1374
Colleen.Hussey@modernatx.com

Investors:
Lavina Talukdar
Senior Vice President & Head of Investor Relations
617-209-5834
Lavina.Talukdar@modernatx.com

SOURCE: Moderna, Inc.

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https://www.accesswire.com/679814/Moderna-Announces-Supply-Agreement-with-South-Korea-for-Additional-20-Million-Doses-of-Modernas-COVID-19-Vaccine-or-Updated-Booster-Candidate-in-2022

FAQ

What is the recent agreement between Moderna and South Korea regarding doses of the COVID-19 vaccine?

Moderna announced a supply agreement with South Korea for 20 million doses, including 15 million for Q3 2022 and 5 million for Q4 2022.

When will the doses from Moderna be delivered to South Korea?

The delivery includes 15 million doses in the third quarter of 2022 and 5 million doses in the fourth quarter.

What is the significance of Moderna's agreement with South Korea?

The agreement signifies a proactive approach by South Korea for the fall 2022 booster season in response to the ongoing COVID-19 pandemic.

What does this agreement mean for Moderna's business outlook?

This agreement enhances Moderna's revenue prospects and reinforces its market position as a leading provider of COVID-19 vaccines.

How many total doses is Moderna to supply under the new agreement?

Moderna is set to supply a total of 20 million doses under the revised agreement with South Korea.