Thursday, November 02, 2023 9:23:17 AM
Third quarter 2023 revenues of $1.8 billion; Company expects 2023 revenues of at least $6 billion
Spikevax U.S. market share to date increased to 45% from 36% in 2022
Company anticipates 2024 revenue of approximately $4 billion and return to growth in 2025
Company has significantly improved future cost of sales by resizing its manufacturing capacity, contributing to a third quarter net loss of $3.6 billion, primarily driven by mostly non-cash charges of $3.1 billion related to resizing and a tax valuation allowance
Company's late-stage pipeline has six Phase 3 programs
Company expects to break even in 2026 through product launches and disciplined investment
Research and Development (R&D) and Selling, General and Administrative (SG&A): The Company now expects full-year 2023 expenses of approximately $6.3 billion (previously $6 billion), with approximately $4.8 billion in R&D (previously $4.5 billion).
Clinical Updates
Moderna's mRNA platform is positioned to continue to deliver significant impact with our mRNA medicines. The Company is anticipating up to 15 launches in the next five years and provided a comprehensive overview of its pipeline and clinical programs at R&D Day in September. Moderna currently has therapeutics in development across four therapeutic areas, with a total of 43 development programs. Other notable updates are provided below.
https://investors.modernatx.com/news/news-details/2023/Moderna-Reports-Third-Quarter-2023-Financial-Results-and-Provides-Business-Updates--/default.aspx
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