Moderna CEO Reflects on 2024 Challenges and Advances in Shareholder Letter

Challenges and Advances:
Moderna faced significant challenges in 2024, particularly in the COVID-19 and RSV vaccine markets, but also made notable advances in its development pipeline12.

Multi-Product Company:
Moderna became a multi-product company with the approval of mRESVIA, its RSV vaccine for older adults, marking its second approved mRNA product2.

Positive Phase 3 Results:
The company achieved four positive Phase 3 data readouts across its respiratory portfolio, demonstrating the potential of its mRNA platform to address significant unmet medical needs2.

Non-Respiratory Programs:
Moderna advanced several non-pulmonary programs, including a norovirus vaccine and therapies for rare diseases, with milestones such as the initiation of a Phase 3 study for its norovirus vaccine and positive readouts from its individualized neoantigen therapy (INT) trials2.

Cost Reduction:
The company reduced its operating costs by 25% in 2024 and plans to further decrease its R&D expenditure by $1.1 billion by 202712.

Strategic Focus: Moderna outlined three priorities for 2025:
driving sales of its Spikevax and mRESVIA vaccines, delivering up to 10 product approvals over the next three years, and improving efficiency by keeping R&D and SG&A expenses flat to down in 202523.

ESG Commitments:
Moderna published its third annual ESG Report, highlighting its commitment to transparency, stakeholder engagement, and integrating ESG priorities into its operations, including a goal to achieve net-zero carbon emissions by 2030 for Scopes 1 & 2 and by 2045 for Scope 323.

Sources:

1. https://www.marketscreener.com/quote/stock/MODERNA-INC-47437573/news/Moderna-a-letter-to-shareholders-reviews-2024-48696347/

2. https://www.modernatx.com/en-US/media-center/all-media/blogs/moderna-2024-shareholder-letter

3. https://www.modernatx.com/de-DE/media-center/all-media/blogs/moderna-2024-shareholder-letter