Moderna's 2024 Financial Results: What to Expect on February 14

Moderna, Inc. (NASDAQ:MRNA) is set to report its fourth quarter and full year 2024 financial results on Friday, February 14, 2025. Investors and analysts alike will be closely watching the company's performance, as it continues to navigate the post-pandemic landscape and expand its mRNA vaccine pipeline. Here's what to expect from Moderna's earnings report.



Financial Performance in 2024

In 2024, Moderna achieved product sales in the range of approximately $3.0 to $3.1 billion (unaudited), with more than $3.0 billion in Spikevax® sales and minimal sales from mRESVIA®. The company's cash, cash equivalents, and investments at year-end 2024 were approximately $9.5 billion. Full financial details will be reported in connection with the Company's earnings call on February 14, 2025.



Late-Stage Pipeline Milestones

Moderna expects numerous product milestones in 2025 across its vaccines and therapeutics portfolio. Some key milestones include:

1. Next-generation COVID-19 vaccine (mRNA-1283): Moderna has filed for regulatory approval of its next-generation, refrigerator-stable COVID-19 vaccine using a priority review voucher. The FDA has accepted Moderna's Biologics License Application (BLA) for mRNA-1283 and has assigned a Prescription Drug User Fee Act (PDUFA) goal date of May 31, 2025.
2. Respiratory syncytial virus (RSV) vaccine (mRESVIA): Moderna received regulatory approval of its RSV vaccine mRESVIA for adults aged 60 years and older in 2024. The company shared positive Phase 3 data for mRNA-1345 in high-risk adults aged 18-59 at its 2024 R&D Day event and has since filed with the FDA for regulatory approval using a priority review voucher.
3. Seasonal flu/COVID vaccine (mRNA-1083): Moderna shared positive Phase 3 immunogenicity data for its flu/COVID combination vaccine for adults aged 50 years and older at its 2024 R&D Day event. The company has filed with the FDA for regulatory approval of mRNA-1083.
4. Seasonal flu vaccine (mRNA-1010): The Company has initiated a two-season Phase 3 efficacy study (P304) for its seasonal flu vaccine, which has demonstrated consistently acceptable safety and tolerability across three previous Phase 3 trials. The Company anticipates efficacy data from the study in 2025 if sufficient cases are accrued in the first season; otherwise, the study will continue to a second season.
5. Cytomegalovirus (CMV) vaccine (mRNA-1647): The pivotal Phase 3 study of Moderna's CMV vaccine candidate is fully enrolled and accruing cases, evaluating its efficacy in preventing congenital CMV infection in pregnant women.



Outlook for 2025

Moderna is accelerating and expanding its previous cost efficiency and prioritization programs, projecting cash cost reductions of $1.0 billion in 2025. The Company expects an additional $0.5 billion in potential cash cost savings in 2026. Moderna now projects $1.5 billion to $2.5 billion in revenue in 2025, mostly in the second half of the year, primarily due to Spikevax and mRESVIA vaccine sales. The Company expects to end 2025 with cash and investments of approximately $6.0 billion.

As Moderna continues to adapt to the post-pandemic landscape and expand its mRNA vaccine pipeline, investors will be looking for signs of growth and innovation in the company's 2024 financial results. With a strong focus on cost efficiency and a robust pipeline of late-stage programs, Moderna is well-positioned to deliver on its strategic priorities and drive sales growth in the coming years.