Moderna expects $5B COVID vaccine sales in 2023, down from $18B in 2022
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Moderna (NASDAQ:MRNA) on Monday projected ~$18.4B in sales from its COVID-19 vaccine in 2022 and reaffirmed the expected minimum COVID vaccine sales in 2023 at ~$5B based on confirmed agreements and contract deferrals last year.
"We enter 2023 in a great position, with significant momentum across our clinical pipeline, a highly energized team, and a strong balance sheet of over $18 billion of cash and cash equivalents," Chief Executive StÃ©phane Bancel ahead of an update at the J.P. Morgan Healthcare Conference today.
The company also lifted its R&D investments for 2023 to $4.5B, up from ~$3.3B (unaudited) in 2022, as vaccine programs for melanoma and respiratory syncytial virus gain momentum. "2023 is going to be a very exciting year for Moderna, and most importantly, for patients," Bancel added.
Moderna (MRNA) and Merck (MRK), the company's partner for personalized cancer vaccine, intend to begin a Phase 3 study this year targeting melanoma with plans to expand the program to additional tumor indications.
The company has also enrolled more than 36.6K subjects in the pivotal Phase 3 trial for the RSV vaccine (mRNA-1345) in older adults. With 64 cases, the trial has already exceeded the number of confirmed cases required to complete the first interim efficacy analysis.
Moderna (MRNA) has met the enrollment target and expects a data readout this quarter from the Southern Hemisphere immunogenicity study for the seasonal influenza vaccine named mRNA-1010 involving adults. A data readout from the Northern Hemisphere efficacy study for mRNA-1010 is expected this winter.
In December, Moderna (MRNA) shares fell after rival vaccine maker Pfizer (PFE) projected a $10B â $15B commercial market opportunity from its messenger-RNA-based vaccine franchise by 2030.