Moderna ended 2022 with a bang, thanks to the success of their Spikevax sales. As they look forward to 2023, the company is investing heavily in R&D, and their strong financials show that they are well-positioned for continued success.
The COVID-19 pandemic has proven extremely profitable for Moderna, but the biotech giant now faces a sharp decline in revenue this year. Despite their success in 2020, the company projects a 73% decrease in 2023 sales of their coronavirus vaccine, estimating a total of $5 billion.
Spikevax alone drove a massive surge in revenues for 2022, bringing in an impressive $18.4 billion – a staggering increase from the $803 million earned in 2020. This helped push total revenues for the year up to $19.3 billion, a modest yet significant rise from 2021’s $18.5 billion.
Moderna is taking bold steps to ensure its future success. CEO Stéphane Bancel has committed an impressive $4.5 billion to research and development, and has even sought out partners with complimentary platforms to help speed up the process. It’s clear that Moderna is determined to remain profitable and is investing in the right areas to make it happen.
Moderna and ElevateBio’s Life Edit Therapeutics have joined forces to develop next-gen gene editing techniques, though the specific targets have yet to be revealed. According to ElevateBio CEO David Hallal, the collaboration will focus on in vivo targets in the liver, taking advantage of Life Edit’s state-of-the-art base editing capabilities. With this exciting new partnership, the companies are poised to make significant advances in the field of gene editing.
Moderna and Merck have been granted Breakthrough Therapy status from the FDA for their collaborative cancer vaccine. This personalized mRNA vaccine, used in conjunction with Merck’s Keytruda, is specifically designed to provide high-risk melanoma patients with complete resection a promising new treatment option.
In October, Moderna received a major financial boost, when a bank added $250 million to the venture. This came shortly after Merck made the decision to collaborate with Moderna, which meant that all associated costs and profits would be shared equally between the two companies.
A groundbreaking Phase III study combining mRNA and Keytruda is set to launch this year, with rapid expansion plans to include more tumor types, including non-small cell lung cancer. This cutting-edge research could potentially revolutionize cancer treatment, offering hope to countless patients.
Novartis is investing to ramp up Phase III manufacturing for personalized cancer vaccines, so that it can conduct multiple Phase III studies at the same time. According to CEO, Dr. Vas Narasimhan, this will be a major step forward in the company’s efforts to bring personalized cancer vaccines to the masses. This investment will help to speed up the development process and bring these potentially life-saving treatments to those who need them.
In January, Moderna made a huge commitment to oncology, investing a whopping $35 million into CtyomX. This partnership between the two allows for the creation of conditionally activated mRNA therapies for cancer, paving the way for better treatments and better outcomes for patients.
Moderna is leading the way in mRNA vaccine research and development, with its COVID-19 vaccine already granted Breakthrough Therapy designation. But the biotech is far from done, as it is also hard at work on additional mRNA vaccines for the seasonal flu, RSV, and other infectious diseases. In addition, the company has several other pipeline assets in the works, such as treatments for an organic acid disorder, heart failure, and an inhaled cystic fibrosis therapy in partnership with Vertex. With Moderna’s dedication to innovative research, there could be a brighter future ahead for those suffering from these conditions.