Welcome to our dedicated page for Moderna news (Ticker: MRNA), a resource for investors and traders seeking the latest updates and insights on Moderna stock.
Moderna, Inc. (NASDAQ: MRNA) is a cutting-edge biotech company based in Cambridge, Massachusetts, founded in 2010. Moderna is at the forefront of pioneering messenger RNA therapeutics™, a revolutionary class of drugs that utilize mRNA technology to direct cells to produce proteins that can fight diseases. This innovative approach has shown promise in addressing targets that were previously considered untreatable with traditional drugs.
With over 200 patent applications and more than 10,000 claims, Moderna has a robust intellectual property portfolio that includes novel nucleotide chemistries and specific drug compositions. The company has successfully developed and commercialized several mRNA-based drugs, initially focusing on rare diseases and oncology, while partnering to advance drug candidates in other therapeutic areas.
Moderna’s mRNA technology gained global recognition with its COVID-19 vaccine, Spikevax®, which was one of the earliest vaccines to receive emergency use authorization in the United States in December 2020. As of mid-2023, Moderna had 39 mRNA development candidates in clinical trials, covering a wide range of therapeutic areas such as infectious diseases, oncology, cardiovascular diseases, and rare genetic disorders.
Some of Moderna's recent achievements include the advancement of three new vaccine programs—targeting Epstein-Barr virus, Varicella-Zoster virus, and norovirus—towards Phase 3 clinical trials. Additionally, the company initiated three new clinical studies combining its investigational individualized neoantigen therapy with Merck’s Keytruda® for treating various cancers.
Financially, Moderna reported first-quarter revenues of $167 million in 2024, with a GAAP net loss of $1.2 billion. Despite the decline in COVID-19 vaccine sales, the company reaffirms its 2024 expected product sales of approximately $4 billion. Moderna is preparing for the launches of its RSV vaccine and the Spikevax® 2024-2025 formula, demonstrating its commitment to fighting respiratory illnesses.
Moderna continues to focus on innovation and operational efficiency, utilizing AI technologies to enhance productivity. The company's long-term vision includes leveraging its mRNA platform to develop therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases, and autoimmune diseases, striving to make a significant impact on global health.
Moderna, Inc. (MRNA) will be presenting at upcoming investor conferences in May and June 2024. The company will participate in events such as Bernstein's 40th Annual Strategic Decisions Conference, Jefferies Healthcare Conference, and Goldman Sachs 45th Annual Global Healthcare Conference. Investors can access live webcasts and replays of these presentations on Moderna's website.
Moderna, Inc. (NASDAQ: MRNA) receives an update from the U.S. FDA regarding the review of its investigational RSV vaccine, mRNA-1345. The FDA will not complete the review by the PDUFA date of May 12, 2024, due to administrative constraints but expects to finish it by the end of May 2024. Moderna remains optimistic about the review and is on track for a CDC Advisory Committee meeting in June 2024.
Moderna reported first quarter revenues of $167 million, with a GAAP net loss of $1.2 billion. The company reaffirmed its 2024 expected product sales of approximately $4 billion. Moderna initiated three new clinical studies for cancer treatment, advanced three new vaccine programs, and provided updates on its COVID-19 and RSV vaccine commercial efforts. Financially, the company saw a decline in revenue due to reduced sales of its COVID-19 vaccine, with cost of sales decreasing by 88%. Research and development expenses decreased by 6% while selling, general, and administrative expenses decreased by 10%. Moderna's net loss was $(1.2) billion, with diluted EPS of $(3.07). The company maintains a cash, cash equivalents, and investments position of $12.2 billion as of March 31, 2024. Looking ahead, Moderna reaffirmed its 2024 revenue expectations, with key milestones in its late-stage pipeline, including respiratory vaccines, next-generation COVID-19 vaccine, and various other vaccine and therapeutics programs.
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