Biotech Values

[DewDiligence]

MRNA—(-17%)—cuts costs, pares pipeline—investors unimpressed:

https://finance.yahoo.com/news/moderna-r-d-day-highlights-100000130.html

Annual R&D expenses, expected to be $4.7B in 2024, will be reduced to $3.6-3.8B by 2027. Cumulatively, R&D expenses during the 2025-2028 period will be reduced by 20%. Such a cutback is apparently too little and too slow to placate investors.

Perhaps more important, MRNA now says it expects to reach break-even cash flow in 2028—two years later then the previous guidance.

Moreover, MRNA issued 2025 revenue guidance of $2.5-3.5B, which is down from the (previously reduced) 2024 guidance of $3.0-3.5B (#msg-174849487).

Please see #msg-175048423 for related info.