Moderna Reports Third Quarter 2024 Financial Results and Provides Business Updates
Moderna reported Q3 2024 financial results with revenues of $1.9 billion and GAAP net income of $13 million ($0.03 EPS). Product sales reached $1.8 billion, including $1.2 billion in U.S. sales and $0.6 billion internationally. The company reiterates 2024 expected product sales of $3.0-3.5 billion. Cost of sales decreased 77% to $514 million. R&D expenses decreased 2% to $1.1 billion, while SG&A expenses dropped 36% to $281 million. Cash position stands at $9.2 billion. The company initiated Phase 3 trials for norovirus and influenza vaccines, and expanded its Executive Committee.
Moderna ha riportato i risultati finanziari del terzo trimestre 2024 con ricavi di 1,9 miliardi di dollari e un utile netto GAAP di 13 milioni di dollari (0,03 dollari per azione). Le vendite di prodotti hanno raggiunto 1,8 miliardi di dollari, di cui 1,2 miliardi di dollari negli Stati Uniti e 0,6 miliardi di dollari a livello internazionale. L'azienda ribadisce le previsioni di vendite di prodotti per il 2024 comprese tra 3,0 e 3,5 miliardi di dollari. I costi di vendita sono diminuiti del 77% a 514 milioni di dollari. Le spese per Ricerca e Sviluppo sono diminuite del 2% a 1,1 miliardi di dollari, mentre le spese SG&A sono calate del 36% a 281 milioni di dollari. La posizione di liquidità ammonta a 9,2 miliardi di dollari. L'azienda ha avviato gli studi di fase 3 per i vaccini contro il norovirus e l'influenza, e ha ampliato il suo Comitato Esecutivo.
Moderna informó los resultados financieros del tercer trimestre de 2024 con ingresos de 1.9 mil millones de dólares y un ingreso neto GAAP de 13 millones de dólares (0.03 dólares por acción). Las ventas de productos alcanzaron 1.8 mil millones de dólares, incluyendo 1.2 mil millones de dólares en ventas en EE. UU. y 0.6 mil millones de dólares a nivel internacional. La compañía reafirma la expectativa de ventas de productos para 2024 entre 3.0 y 3.5 mil millones de dólares. El costo de ventas disminuyó un 77% a 514 millones de dólares. Los gastos en I+D disminuyeron un 2% a 1.1 mil millones de dólares, mientras que los gastos SG&A cayeron un 36% a 281 millones de dólares. La posición de efectivo se sitúa en 9.2 mil millones de dólares. La compañía inició ensayos de fase 3 para vacunas contra el norovirus y la influenza, y amplió su Comité Ejecutivo.
모더나는 2024년 3분기 재무 결과를 보고하며 매출이 19억 달러, GAAP 기준 순이익이 1300만 달러 (주당 0.03달러)에 달했다고 발표했습니다. 제품 판매는 18억 달러에 도달했으며, 그 중 12억 달러는 미국에서, 6억 달러는 국제 시장에서 발생했습니다. 이 회사는 2024년 예상 제품 판매를 30억~35억 달러로 반복해서 강조했습니다. 매출원가는 77% 감소하여 5억 1400만 달러에 이릅니다. 연구 개발 비용은 2% 감소하여 11억 달러가 되었고, SG&A 비용은 36% 감소하여 2억 8100만 달러가 되었습니다. 현금 보유고는 92억 달러입니다. 이 회사는 노로바이러스 및 인플루엔자 백신의 3상 시험을 시작하고, 집행 위원회를 확대했습니다.
Moderna a annoncé les résultats financiers du troisième trimestre 2024, avec des revenus de 1,9 milliard de dollars et un bénéfice net GAAP de 13 millions de dollars (0,03 dollar par action). Les ventes de produits ont atteint 1,8 milliard de dollars, dont 1,2 milliard de dollars aux États-Unis et 0,6 milliard de dollars à l’international. La société réitère ses prévisions de ventes de produits pour 2024, estimées entre 3,0 et 3,5 milliards de dollars. Le coût des ventes a diminué de 77%, s'élevant à 514 millions de dollars. Les dépenses de R&D ont légèrement baissé de 2% pour atteindre 1,1 milliard de dollars, tandis que les dépenses SG&A ont chuté de 36% pour s'établir à 281 millions de dollars. La position de trésorerie est de 9,2 milliards de dollars. L'entreprise a lancé des essais cliniques de phase 3 pour des vaccins contre le norovirus et la grippe et a élargi son Comité Exécutif.
Moderna berichtete über die Finanzergebnisse für das 3. Quartal 2024 mit Einnahmen von 1,9 Milliarden Dollar und einem GAAP-Nettogewinn von 13 Millionen Dollar (0,03 Dollar je Aktie). Die Produktverkäufe erreichten 1,8 Milliarden Dollar, einschließlich 1,2 Milliarden Dollar in den USA und 0,6 Milliarden Dollar international. Das Unternehmen bekräftigt die prognostizierten Produktverkäufe für 2024 zwischen 3,0 und 3,5 Milliarden Dollar. Die Produktionskosten sanken um 77% auf 514 Millionen Dollar. Die Forschungs- und Entwicklungskosten gingen um 2% auf 1,1 Milliarden Dollar zurück, während die Vertriebs- und Verwaltungskosten um 36% auf 281 Millionen Dollar sanken. Die Liquiditätsposition beläuft sich auf 9,2 Milliarden Dollar. Das Unternehmen hat Phase-3-Studien für Impfstoffe gegen Norovirus und Influenza initiiert und sein Exekutivkomitee erweitert.
- Revenue increased 4% YoY to $1.9 billion in Q3 2024
- Significant cost reduction with 77% decrease in cost of sales
- 36% reduction in SG&A expenses due to operational efficiencies
- Strong cash position of $9.2 billion
- 40% market share in retail channel for COVID-19 vaccine
- RSV vaccine sales underperformed at only $10 million due to late approval
- Cash position decreased from $10.8B to $9.2B during Q3
- Significant inventory write-downs of $214 million
Insights
Moderna's Q3 2024 results show mixed performance with significant operational improvements. Revenue of
The company maintains its
Pipeline progress across multiple programs and cost management initiatives suggest potential for future growth, but near-term performance heavily depends on COVID-19 vaccine uptake, which represents
The pipeline developments show significant progress in multiple therapeutic areas. Key highlights include:
- Initiation of pivotal Phase 3 trials for norovirus and influenza vaccines
- Positive Phase 3 data for next-gen COVID-19 vaccine (mRNA-1283) and RSV vaccine in high-risk adults
- Advancement in combination vaccines with positive flu/COVID data
- Progress in rare disease therapeutics with promising early results in propionic acidemia
The company's strategy of pursuing 10 product approvals over three years demonstrates pipeline diversity beyond COVID-19. The expansion of the executive committee with research and medical leadership suggests increased focus on pipeline execution and development efficiency.
Reports third quarter revenues of
Achieves year-to-date product sales of
Initiated dosing in two pivotal Phase 3 trials to assess efficacy of investigational mRNA vaccines against norovirus and influenza
Announces expansion of its Executive Committee
CAMBRIDGE, MA / ACCESSWIRE / November 7, 2024 / Moderna, Inc. (NASDAQ:MRNA) today reported financial results and provided business updates for the third quarter of 2024.
"During the third quarter, we focused on execution with the launch of our updated COVID-19 and RSV vaccines in markets across the globe. I am pleased with the cost efficiency we achieved in the quarter, tracking ahead of where we planned to be at this time," said Stéphane Bancel, Chief Executive Officer of Moderna. "Looking into the fourth quarter and preparing for 2025, we remain focused on driving sales growth, delivering 10 product approvals over the next three years, and continuing to reduce our cost structure."
Recent progress includes:
Commercial Updates
COVID-19: The Company reported
Moderna's updated mRNA COVID-19 vaccine has been approved in major markets worldwide. In the U.S., the Company was ready for an earlier COVID vaccine approval compared to the prior season, with timely shipments to all channels across the U.S. healthcare system. The approval timing has driven an earlier uptake in the retail channel, where Moderna has
The Company continues to focus on public health efforts to drive vaccination rates globally. Moderna has undertaken marketing and awareness campaigns to educate consumers and activate the medical community. The recent recommendation of the CDC's Advisory Committee on Immunization Practices (ACIP) of additional doses for older adults and high-risk populations is supportive of vaccination uptake.
RSV: The Company reported
Third Quarter 2024 Financial Results
Revenue: Total revenue for the third quarter of 2024 was
Cost of Sales: Cost of sales for the third quarter of 2024 was
Research and Development Expenses: Research and development expenses for the third quarter of 2024 decreased by
Selling, General and Administrative Expenses: Selling, general and administrative expenses for the third quarter of 2024 decreased by
Income Taxes: The Company recognized an income tax expense of
Net Income (Loss): Net income was
Earnings (Loss) Per Share: Earnings per share was
Cash Position: Cash, cash equivalents and investments as of September 30, 2024, were
2024 Financial Framework
Net Sales: The Company reiterates its 2024 expected net product sales of
Cost of Sales: Cost of sales is now expected to be in the range of 40
Research and Development Expenses: Full-year 2024 research and development expenses are now anticipated to be in the range of
Selling, General and Administrative Expenses: Selling, general and administrative expenses for 2024 are projected to be approximately
Income Taxes: The Company continues to expect its full-year tax expense to be negligible.
Capital Expenditures: Capital expenditures for 2024 are now expected to be approximately
Cash and Investments: Year-end cash and investments for 2024 are projected to be approximately
Recent Progress and Upcoming Late-Stage Pipeline Milestones
The Company remains focused on a prioritized research and development portfolio, delivering on 10 product approvals over the next three years.
Respiratory vaccines:
Next-generation COVID-19 vaccine: Moderna shared positive Phase 3 vaccine efficacy and immunogenicity data for its next-generation COVID-19 vaccine (mRNA-1283) at its R&D Day event in September 2024.
Respiratory syncytial virus (RSV) vaccine: Moderna shared positive Phase 3 data for its vaccine against RSV (mRNA-1345) in high-risk adults aged 18-59 at its 2024 R&D Day event.
Seasonal flu + COVID vaccine: Moderna shared positive Phase 3 immunogenicity data for its flu/COVID combination vaccine at its 2024 R&D Day event.
Seasonal flu vaccine: The Company has initiated a Phase 3 efficacy study (P304) for its seasonal flu vaccine (mRNA-1010), which has demonstrated consistently acceptable safety and tolerability across three previous Phase 3 trials.
Moderna intends to file in 2024 for approval of its next-generation COVID-19 vaccine (mRNA-1283) and RSV vaccine (mRNA-1345) for high-risk adults aged 18-59; the Company expects to communicate the PDUFA date for each of these programs when it is confirmed. Moderna intends to use priority review vouchers for mRNA-1283 and mRNA-1345 for high-risk adults aged 18-59. For its flu/COVID combination vaccine (mRNA-1083), the Company intends to file in 2024, subject to ongoing discussions with the U.S. FDA, and has decided not to use a priority review voucher.
Latent and other vaccines:
Cytomegalovirus (CMV) vaccine: Moderna expects to have accrued the 81 cases necessary to trigger the first interim analysis of the Phase 3 vaccine efficacy study of its CMV vaccine candidate (mRNA-1647) by the end of 2024. If the Data and Safety Monitoring Board (DSMB) recommends unblinding at the first interim analysis, the Company intends to share the results.
Norovirus vaccine: Moderna's trivalent vaccine candidate for the prevention of norovirus (mRNA-1403) advanced into a pivotal Phase 3 randomized clinical trial evaluating its efficacy, safety and immunogenicity.
Oncology therapeutics:
Individualized Neoantigen Therapy (INT): Moderna and Merck initiated a Phase 3 study evaluating adjuvant INT (mRNA-4157) in combination with KEYTRUDA® after neoadjuvant KEYTRUDA and chemotherapy in patients with certain types of resected non-small cell lung cancer. This is the third Phase 3 trial for the investigational INT focused on earlier stages of cancer.
Rare disease therapeutics:
Propionic acidemia (PA) therapeutic: In an ongoing Phase 1/2 study designed to evaluate safety and pharmacology in trial participants with PA, Moderna's investigational therapeutic (mRNA-3927) was generally well-tolerated to date with no events meeting protocol-defined dose-limiting toxicity criteria. Early results suggest potential decreases in annualized metabolic decompensation event (MDE) frequency compared to pre-treatment, and the majority of patients have elected to continue on the open label extension study. The Company intends to begin generating pivotal trial data in 2024.
Methylmalonic acidemia (MMA) therapeutic: Moderna's investigational therapeutic for MMA (mRNA-3705) has been selected by the U.S. FDA for the Support for Clinical Trials Advancing Rare Disease Therapeutics (START) pilot program. The FDA and Moderna have agreed on the pivotal study design. The Company expects to start a pivotal study in the first half of 2025.
Moderna Corporate Updates
Expanded the Moderna Executive Committee:
Moderna President Stephen Hoge, M.D., has taken on an expanded role, adding new responsibilities overseeing Moderna's commercial organization. As President, Dr. Hoge will now be responsible for strategy across Research and Development, Medical Affairs and Commercial.
Rose Loughlin, Ph.D., has been promoted to Executive Vice President, Research, and will lead Moderna's research organization. Dr. Loughlin will join the Executive Committee and report to Chief Executive Officer Stéphane Bancel.
Jacqueline Miller, M.D., has been promoted to Chief Medical Officer, and will lead Moderna's development organization. Dr. Miller will join the Executive Committee and report to Chief Executive Officer Stéphane Bancel.
Moderna Chief Human Resources Officer Tracey Franklin has expanded her role to Chief People and Digital Technology Officer, overseeing the Company's talent and digital functions. Brad Miller, Chief Information Officer of Moderna, will report to Franklin in her newly expanded role.
Entered into a purchase and sale agreement for the properties the Company currently leases in Norwood, Massachusetts, where the Moderna Technology Center (MTC) is located. The purchase of this highly strategic asset for Moderna operations gives the Company full control to build out the campus for future productivity and innovation.
Announced that Abbas Hussain, former Chief Executive Officer of Vifor Pharma, joined Moderna's Board of Directors, effective October 2, 2024.
Entered into a joint agreement with Cenra Healthcare to promote Moderna's mRNA respiratory vaccine portfolio in Taiwan, including COVID-19 vaccines.
Announced its manufacturing facility in Laval, Quebec, has been granted a Drug Establishment License from Health Canada, enabling the site to become fully operational.
Partnered with Coursera to launch a free course on mRNA technology.
Company Accolades
Moderna was ranked as a top employer in the global biopharmaceutical industry by Science on the Science Careers' 2024 Top Employers Survey (tenth consecutive year)
Investor Call and Webcast Information
Moderna will host a live conference call and webcast at 8:00 a.m. ET on November 7, 2024. To access the live conference call via telephone, please register at the link below. Once registered, dial-in numbers and a unique pin number will be provided. A live webcast of the call will also be available under "Events and Presentations" in the Investors section of the Moderna website.
Telephone: https://register.vevent.com/register/BIfd5a9d864ef1471c805e19b231f7d939
Webcast: https://investors.modernatx.com
The archived webcast will be available on Moderna's website approximately two hours after the conference call and will be available for one year following the call.
About Moderna
Moderna is a leader in the creation of the field of mRNA medicine. Through the advancement of mRNA technology, Moderna is reimagining how medicines are made and transforming how we treat and prevent disease for everyone. By working at the intersection of science, technology and health for more than a decade, the company has developed medicines at unprecedented speed and efficiency, including one of the earliest and most effective COVID-19 vaccines.
Moderna's mRNA platform has enabled the development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases and autoimmune diseases. With a unique culture and a global team driven by the Moderna values and mindsets to responsibly change the future of human health, Moderna strives to deliver the greatest possible impact to people through mRNA medicines. For more information about Moderna, please visit modernatx.com and connect with us on X (formerly Twitter), Facebook, Instagram, YouTube and LinkedIn.
MODERNA, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited, in millions, except per share data)
| Three Months Ended September 30, |
|
| Nine Months Ended September 30, |
| ||||||||||
| 2024 |
|
| 2023 |
|
| 2024 |
|
| 2023 |
| ||||
Revenue: |
|
|
|
|
|
|
|
|
|
|
| ||||
Net product sales | $ | 1,820 |
|
| $ | 1,757 |
|
| $ | 2,171 |
|
| $ | 3,878 |
|
Other revenue1 |
| 42 |
|
|
| 74 |
|
|
| 99 |
|
|
| 159 |
|
Total revenue |
| 1,862 |
|
|
| 1,831 |
|
|
| 2,270 |
|
|
| 4,037 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of sales |
| 514 |
|
|
| 2,241 |
|
|
| 725 |
|
|
| 3,764 |
|
Research and development |
| 1,137 |
|
|
| 1,160 |
|
|
| 3,421 |
|
|
| 3,439 |
|
Selling, general and administrative |
| 281 |
|
|
| 442 |
|
|
| 823 |
|
|
| 1,079 |
|
Total operating expenses |
| 1,932 |
|
|
| 3,843 |
|
|
| 4,969 |
|
|
| 8,282 |
|
Loss from operations |
| (70 | ) |
|
| (2,012 | ) |
|
| (2,699 | ) |
|
| (4,245 | ) |
Interest income |
| 103 |
|
|
| 105 |
|
|
| 334 |
|
|
| 318 |
|
Other expense, net |
| (12 | ) |
|
| (51 | ) |
|
| (58 | ) |
|
| (85 | ) |
Income (loss) before income taxes |
| 21 |
|
|
| (1,958 | ) |
|
| (2,423 | ) |
|
| (4,012 | ) |
Provision for income taxes |
| 8 |
|
|
| 1,672 |
|
|
| 18 |
|
|
| 919 |
|
Net income (loss) | $ | 13 |
|
| $ | (3,630 | ) |
| $ | (2,441 | ) |
| $ | (4,931 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Earnings (loss) per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic | $ | 0.03 |
|
| $ | (9.53 | ) |
| $ | (6.37 | ) |
| $ | (12.89 | ) |
Diluted | $ | 0.03 |
|
| $ | (9.53 | ) |
| $ | (6.37 | ) |
| $ | (12.89 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Weighted average common shares used in calculation of earnings (loss) per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
| 385 |
|
|
| 381 |
|
|
| 383 |
|
|
| 382 |
|
Diluted |
| 399 |
|
|
| 381 |
|
|
| 383 |
|
|
| 382 |
|
1Includes grant, collaboration and licensing and royalty revenue
MODERNA, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited, in millions)
September 30, |
|
| December 31, |
| |||
2024 |
|
| 2023 |
| |||
Assets |
|
|
|
|
| ||
Current assets: |
|
|
|
|
| ||
Cash and cash equivalents | $ | 1,644 |
|
| $ | 2,907 |
|
Investments |
| 5,223 |
|
|
| 5,697 |
|
Accounts receivable, net |
| 1,564 |
|
|
| 892 |
|
Inventory |
| 412 |
|
|
| 202 |
|
Prepaid expenses and other current assets |
| 823 |
|
|
| 627 |
|
Total current assets |
| 9,666 |
|
|
| 10,325 |
|
Investments, non-current |
| 2,335 |
|
|
| 4,677 |
|
Property, plant and equipment, net |
| 2,381 |
|
|
| 1,945 |
|
Right-of-use assets, operating leases |
| 784 |
|
|
| 713 |
|
Deferred tax assets |
| 81 |
|
|
| 81 |
|
Other non-current assets |
| 556 |
|
|
| 685 |
|
Total assets | $ | 15,803 |
|
| $ | 18,426 |
|
Liabilities and Stockholders' Equity |
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
Accounts payable | $ | 373 |
|
| $ | 520 |
|
Accrued liabilities |
| 1,376 |
|
|
| 1,798 |
|
Deferred revenue |
| 379 |
|
|
| 568 |
|
Income taxes payable |
| 4 |
|
|
| 63 |
|
Other current liabilities |
| 69 |
|
|
| 66 |
|
Total current liabilities |
| 2,201 |
|
|
| 3,015 |
|
Deferred revenue, non-current |
| 95 |
|
|
| 83 |
|
Operating lease liabilities, non-current |
| 679 |
|
|
| 643 |
|
Financing lease liabilities, non-current |
| 625 |
|
|
| 575 |
|
Other non-current liabilities |
| 276 |
|
|
| 256 |
|
Total liabilities |
| 3,876 |
|
|
| 4,572 |
|
Stockholders' equity: |
|
|
|
|
|
|
|
Additional paid-in capital |
| 751 |
|
|
| 371 |
|
Accumulated other comprehensive income (loss) |
| 11 |
|
|
| (123 | ) |
Retained earnings |
| 11,165 |
|
|
| 13,606 |
|
Total stockholders' equity |
| 11,927 |
|
|
| 13,854 |
|
Total liabilities and stockholders' equity | $ | 15,803 |
|
| $ | 18,426 |
|
MODERNA, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited, in millions)
Nine Months Ended September 30, |
| ||||||
2024 |
|
| 2023 |
| |||
Operating activities |
|
|
|
|
| ||
Net loss | $ | (2,441 | ) |
| $ | (4,931 | ) |
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
|
|
|
Stock-based compensation |
| 325 |
|
|
| 226 |
|
Depreciation and amortization |
| 129 |
|
|
| 419 |
|
Amortization/accretion of investments |
| (76 | ) |
|
| (41 | ) |
Loss on equity investments, net |
| 43 |
|
|
| 16 |
|
Deferred income taxes |
| - |
|
|
| 934 |
|
Other non-cash items |
| 6 |
|
|
| 25 |
|
Changes in assets and liabilities, net of acquisition of business: |
|
|
|
|
|
|
|
Accounts receivable, net |
| (672 | ) |
|
| (481 | ) |
Prepaid expenses and other assets |
| (147 | ) |
|
| 772 |
|
Inventory |
| (208 | ) |
|
| 462 |
|
Right-of-use assets, operating leases |
| (63 | ) |
|
| (657 | ) |
Accounts payable |
| (103 | ) |
|
| (8 | ) |
Accrued liabilities |
| (415 | ) |
|
| 63 |
|
Deferred revenue |
| (177 | ) |
|
| (1,173 | ) |
Income taxes payable |
| (58 | ) |
|
| 8 |
|
Operating lease liabilities |
| 33 |
|
|
| 605 |
|
Other liabilities |
| (5 | ) |
|
| 21 |
|
Net cash used in operating activities |
| (3,829 | ) |
|
| (3,740 | ) |
Investing activities |
|
|
|
|
|
|
|
Purchases of marketable securities |
| (4,641 | ) |
|
| (2,097 | ) |
Proceeds from maturities of marketable securities |
| 4,648 |
|
|
| 4,711 |
|
Proceeds from sales of marketable securities |
| 3,010 |
|
|
| 2,725 |
|
Purchases of property, plant and equipment |
| (529 | ) |
|
| (487 | ) |
Acquisition of business, net of cash acquired |
| - |
|
|
| (85 | ) |
Investment in convertible notes and equity securities |
| - |
|
|
| (23 | ) |
Net cash provided by investing activities |
| 2,488 |
|
|
| 4,744 |
|
Financing activities |
|
|
|
|
|
|
|
Proceeds from issuance of common stock through equity plans |
| 55 |
|
|
| 31 |
|
Repurchase of common stock, including excise tax |
| - |
|
|
| (1,153 | ) |
Changes in financing lease liabilities |
| 4 |
|
|
| (146 | ) |
Net cash provided by (used in) financing activities |
| 59 |
|
|
| (1,268 | ) |
Effect of changes in exchange rates on cash and cash equivalents |
| 1 |
|
|
| - |
|
Net decrease in cash, cash equivalents and restricted cash |
| (1,281 | ) |
|
| (264 | ) |
Cash, cash equivalents and restricted cash, beginning of year |
| 2,928 |
|
|
| 3,217 |
|
Cash, cash equivalents and restricted cash, end of period | $ | 1,647 |
|
| $ | 2,953 |
|
Spikevax® and mRESVIA® are registered trademarks of Moderna.
KEYTRUDA® is a registered trademark of Merck Sharp & Dohme Corp.
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 statements regarding: market dynamics for Moderna's COVID-19 and RSV vaccines, including Moderna's market share; Moderna's ability to drive vaccination rates; Moderna's ability to effectively leverage AI technologies; Moderna's 2024 financial framework and anticipated performance, including expected product sales; Moderna's ability to deliver 10 product approvals over the next three years; and anticipated milestones for Moderna's pipeline programs in 2024, including Moderna's intent to file for regulatory approval for certain respiratory vaccines. In some cases, forward-looking statements can be identified by terminology such as "will," "may," "should," "could," "expects," "intends," "plans," "aims," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. 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, among others, those risks and uncertainties described under the heading "Risk Factors" in Moderna's Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the U.S. Securities and Exchange Commission (SEC), and in subsequent filings 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 of this press release.
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Moderna Contacts
Media:
Chris Ridley
Head of Global Media Relations
+1 617-800-3651
Chris.Ridley@modernatx.com
Investors:
Lavina Talukdar
Senior Vice President & Head of Investor Relations
+1 617-209-5834
Lavina.Talukdar@modernatx.com
[1] Source: Based on information licensed from IQVIA: IQVIA RAPID Weekly Audit for August-October 2024, reflecting estimates of real-world activity. All rights reserved.
SOURCE: Moderna, Inc.
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