Moderna Details Product Pipeline and Finances Ahead of JP Morgan Presentation

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Moderna announced business and pipeline updates ahead of its presentation at the 43^rd Annual J.P. Morgan Healthcare Conference on Monday, January 13.¹ According to the press release, Moderna is priotizing the following areas in the coming year: respiratory vaccines, rare diseases, oncology, and viruses with unmet needs.

The press release also details the company’s financial status. According to the document, Moderna brought in between $3 to $3.1 billion in sales in 2024. Of this number, an estimated $1.7 billion came from the United States. The company ended the year with $9.5 billion in cash, cash equivalents, and investments on hand.

Stephane Bancel, Moderna’s chief executive officer, said in the press release, “In 2024, we achieved $3.0 - 3.1 billion in product sales, approval of our RSV vaccine and continued to adapt our COVID-19 business for the endemic setting. At the same time, we reduced our cash operating cost by over 25 percent compared to 2023 and aim to reduce 2025 cash costs by $1 billion with a plan for an additional $500 million cost savings in 2026. We remain focused on our three strategic priorities: driving sales growth, delivering up to 10 product approvals over the next three years, and reducing costs across our business."

Moderna included updates on key elements of its upcoming pipeline as well. This includes a next-generation COVID-19 vaccine, an RSV vaccine, a new seasonal flu, and a combination seasonal flu/COVID vaccine. All of these products are still in development and are awaiting various approvals from FDA.

The company is also developing a vaccine for Norovirus, which is currently in a two-season Phase III trial. The delivery of results from this trial are dependent upon the number of cases Moderna is able to access during the first season.

Moderna also recently released its annual shareholder letter from CEO Stephane Bancel.² In it, Bancel writes, “As we reflect on 2024, it is clear that the past year brought formidable challenges for Moderna along with significant advances, particularly for our development pipeline. It was a year of navigating a dynamic global landscape and evolving commercial realities, demanding resilience, innovation and adaptability. The shifting dynamics of the COVID and RSV vaccine markets tested our commercial strategies and required us to reassess our financial framework. These challenges underscored the complexities of operating in a post-pandemic world and highlighted the need to remain agile within a rapidly evolving healthcare ecosystem.”

The letter continues on to detail the company’s awareness that the immediate future holds regulatory uncertainty within the US due to the new administration entering the White House. Bancel, however, assures shareholders that Moderna still plans on delivery mRNA medicines as its driving force.

He writes, “In a relatively short time, we have developed a large number of innovative medicines, advancing our Mission and growing our portfolio to two approved medicines, seven candidates in Phase 3 trials and a total of 45 programs in our development pipeline.”

Sources

1. Moderna Provides Business and Pipeline Updates at 43rd Annual J.P. Morgan Healthcare Conference. Moderna. January 13, 2025. https://investors.modernatx.com/news/news-details/2025/Moderna-Provides-Business-and-Pipeline-Updates-at-43rd-Annual-J.P.-Morgan-Healthcare-Conference/default.aspx
2. Bancel, Stephane. Moderna 2024 Shareholder Letter. January 6, 2025. Accessed January 13, 2025. https://www.modernatx.com/en-US/media-center/all-media/blogs/moderna-2024-shareholder-letter