Moderna is fighting back against the impacts of the pandemic, increasing research and development spending despite a dip in revenue. The mRNA biotech released its second-quarter earnings report Thursday, with promises for increased vaccine sales throughout the rest of the year, aiming to diversify their product portfolio.
Moderna has released its second-quarter earnings report, showing that even though overall revenue has decreased, research and development spending has been accelerated in light of the post-pandemic era. The mRNA company is aiming to bolster its product portfolio and has even raised expectations for COVID-19 vaccine sales in the upcoming months.
On Thursday, Moderna’s Chief Commercial Officer Arpa Garay made an exciting announcement– the company had increased its expected sales for its Spikevax vaccine from an original forecast of $5 billion to a whopping range of $6 billion to $8 billion for the year. What makes this even more promising is that an updated version of Spikevax, targeting the XBB lineage, has been submitted for regulatory approval ahead of the fall vaccination season. The only key variable is the vaccination rates, but there is certainly hope in the air!
It’s a new era for the flu shot market, as it begins transitioning into a commercial endemic market for the first time. Currently, however, it’s difficult to get an accurate gauge on how many people will be getting their shots this fall, making it hard to predict market volumes.
Moderna experienced a staggering $1.4 billion loss in the second quarter – largely the result of a whopping $1.1 billion R&D investment. This is merely a drop in the bucket of a hefty $4.5 billion that the company expects to expend in R&D across 2020, as their clinical trial expenses and growth in headcount to support late-stage development eat up significant cash reserves that currently amount to $14.6 billion.
Through its mRNA therapeutic candidates, Moderna is expanding the potential of its revenue stream with a range of treatments for oncology, cardiovascular, autoimmune and rare diseases alike. Driven by innovation and research, Moderna is paving the way for a new and exciting future of medicine.
The race is on for vaccines to protect against respiratory syncytial virus (RSV), flu and cytomegalovirus (CMV). Regulatory submissions have already been completed for an RSV vaccine designed to protect older adults in the U.S., Europe and Australia. The mRNA-1010 flu vaccine is now in Phase III clinical trials with an update expected soon. It could even receive accelerated approval. Additionally, the CMV vaccine is over 80% enrolled in Phase III trials. The future of healthcare is looking brighter, even amidst a global health crisis.
The company is poised to make a serious impact on respiratory health in the next few years, with up to five vaccines in the pipeline from 2024 to 2026. These vaccines include RSV, seasonal flu, combination vaccines, next-gen COVID and flu, providing a comprehensive range of protection against serious illnesses.
Arguably the most eagerly awaited therapy in the pipeline is Merck’s partnered INT, a potential breakthrough in the quest for a cancer vaccine. When combined with their blockbuster drug Keytruda, this individualized neoantigen therapy may finally bring hope to millions of cancer sufferers around the globe.
A remarkable progress has been made in the fight against melanoma – The Interheron mRNA-4157 (INT), when given along with Keytruda, has been shown to reduce the risk of recurrence and death by a massive 44% for stage III & IV high-risk patients who have had surgery. To confirm these promising findings, a Phase III study is now commencing for patients with stages IIb to IV, with recurrence-free survival as the main benchmark. It’s an important step forward in combatting this deadly skin cancer.
The global medical giants Merck and Moderna have joined forces to develop an early-stage trial of the revolutionary mRNA-4157 and Keytruda combination for lung cancer. Moderna is speeding up production of this personalized treatment, with the launch expected within the next one to three years to treat multiple conditions. It’s a move that could revolutionize healthcare, providing hope to thousands of people worldwide.
Moderna CEO Stephane Bancel has ushered in a “new era of diversified revenue” with an impressive pipeline set to launch an unprecedented number of mRNA products in record time. This promises to be a game-changing move for the company.