Moderna reports full-year revenues of $3.2 billion, GAAP net loss of $(3.6) billion and GAAP diluted EPS of $(9.28), and expects 2025 revenue range of $1.5 to 2.5 billion andending cash balance of approximately $6 billion. Total revenue was $3.2 billion for the full year 2024, compared to $6.8 billion in 2023. The decrease in total revenue was mainly due to lower sales of the Company’s COVID-19 vaccine.
It has also reported fourth quarter revenues of $1.0 billion, GAAP net loss of $(1.1) billion and GAAP EPS of $(2.91); loss includes approximately $0.2 billion of non-cash charges related to manufacturing resizing
Moderna has successfully filed three Biologics License Applications in the final months of the year and reduced its costs by 27 percent compared to 2023, said Stéphane Bancel, Chief Executive Officer of Moderna, in a press release on Friday.
The company will focus on driving sales in 2025, delivering up to 10 product approvals through 2027, and expanding cost efficiencies across its business, Bancel said. “By the end of 2025, we aim to remove nearly $1 billion in costs. 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,” Bancel said.
Moderna is entering 2025 with two approved products, Spikevax and mRESVIA, it said.
The company reported $923 million in Spikevax sales in the fourth quarter of 2024, which includes $244 million of U.S. sales and $679 million of international sales. Spikevax sales for the full year 2024 were $3.1 billion, the company said.
Research and development expenses for the fourth quarter of 2024decreased by 20% to $1.1 billion, compared to the fourth quarter in 2023, primarily driven by lower clinical development and manufacturing expenses related to the COVID-19, RSV, seasonal flu, and combination vaccine programs, partially offset by increased spending on the norovirus and individualized neoantigen therapy (INT) programs.