Moderna achieves $3B in product sales in 2024
January 13, 2025Moderna announced Monday business updates and progress across its pipeline of mRNA medicines, entering 2025 with a focus on a prioritized portfolio addressing respiratory viruses, rare diseases, oncology, and latent and other viruses where there is unmet need, as it achieved $3-3.1B in product sales.
Stéphane Bancel, Chief Executive Officer of Moderna, said in a press release: “In 2024, we achieved $3.0 – 3.1 billion in product sales, approval of our RSV vaccine and continued to adapt our COVID-19 business for the endemic setting. At the same time, we reduced our cash operating cost by over 25 percent compared to 2023 and aim to reduce 2025 cash costs by $1 billion with a plan for an additional $500 million cost savings in 2026. We remain focused on our three strategic priorities: driving sales growth, delivering up to 10 product approvals over the next three years, and reducing costs across our business.”
Summary of Financial Updates
2024 financial updates: Moderna said it achieved 2024 product sales in the range of approximately $3.0 to 3.1 billion (unaudited), comprising $1.7 billion in the U.S. and $1.3 to 1.4 billion in Rest of World. This includes more than $3.0 billion in Spikevax® sales and minimal sales from mRESVIA®. 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.
2025 financial framework: Moderna said it is accelerating and expanding its previous cost efficiency and prioritization programs and now projects cash cost reductions of $1.0 billion (including cost of sales, research and development, and selling, general & administrative expense) 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.