Moderna is deprioritizing certain parts of its pipeline, which involves pausing work on some products and scrapping others.
Moderna said it plans to cut $1.1 billion in expenses by 2027 as it charts a path forward after the rapid decline of its Covid business.But Moderna is also deprioritizing certain parts of its pipeline, which involves pausing work on some products and scrapping others.The biotech company said it expects 10 new product approvals through 2027.
In a research note Thursday, Jefferies analyst Michael Yee said that the bulk of the cost savings won't be achieved until 2027, which "now delays profitability until 2028." adults ages 18 to 59, with plans to file for approval for that age group this year. It also announced positive data on its experimental stand-alone flu shot for adults ages 65 and older.
The company expects 2025 revenue to come in at $2.5 billion to $3.5 billion. From 2026 to 2028, Moderna expects a compounded annual growth rate of more than 25% as new products launch. Moderna CEO Stephane Bancel speaks at the grand opening of the company's new headquarters outside Kendall Square.Bancel said the company plans to use a "priority review voucher" when it files for approval for people ages 18 to 59, which would reduce the amount of time it takes for the Food and Drug Administration to review the product to"It's in the millions of people who could benefit.
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