Moderna Reports Fourth Quarter and Fiscal Year 2024 Financial Results, Announces Strategic Initiatives

Moderna Reports Fourth Quarter and Fiscal Year 2024 Financial Results, Announces Strategic Initiatives

Moderna, Inc. (NASDAQ:MRNA) has released its financial results for the fourth quarter and full year 2024, alongside key business updates. In research and development (R&D), the company reported expenses of $1.1 billion, a 20% year-over-year decline over 2023 and a diluted loss per share of $9.28.

The decline in revenue is primarily attributed to reduced sales of Moderna's COVID-19 vaccine, Spikevax®, which generated $923 million in the fourth quarter and $3.1 billion for the full year. The company also reported $15 million in sales from its RSV vaccine, mRESVIA®, in the fourth quarter.

In response to these financial challenges, Moderna has implemented a 27% reduction in costs compared to 2023 and has submitted three Biologics License Applications for regulatory approval. These applications include a next-generation COVID vaccine, an RSV vaccine for high-risk adults aged 18 to 59, and a flu/COVID combination vaccine. Looking ahead, the company projects 2025 revenues between $1.5 billion and $2.5 billion and aims to eliminate nearly $1 billion in costs by the end of 2025.

CEO Stéphane Bancel emphasized the company's focus on driving sales and achieving up to 10 product approvals by 2027, stating, "With strong momentum in our late-stage pipeline, we anticipate multiple approvals starting this year, along with key Phase 3 readouts that will support our long-term growth."

Despite the financial setbacks, Moderna maintains a cash position of $9.5 billion as of December 31, 2024, and continues to invest in its mRNA platform, targeting a range of infectious diseases and therapeutic areas.