Q4 2024 Moderna Inc Earnings Call Transcript
Key Points
- Moderna Inc (MRNA) ended 2024 with $9.5 billion in cash and investments, exceeding their anticipated $9 billion.
- The company has prioritized 10 high-value programs expected to drive sales growth and diversification over the next three years.
- Moderna Inc (MRNA) reported positive Phase III results in four programs and filed for FDA approval for several vaccines, including next-gen COVID and RSV.
- The company achieved a significant reduction in operating expenses, cutting costs by $2.6 billion compared to 2023.
- Moderna Inc (MRNA) has two commercial products on the market and is focusing on expanding its presence in the RSV market.
- Moderna Inc (MRNA) reported a net loss of $3.6 billion for 2024, compared to a loss of $4.7 billion in 2023.
- Total revenue for 2024 was $3.2 billion, a 53% decline from 2023, primarily due to lower product sales.
- The company experienced a 66% decline in total revenue for Q4 2024 compared to the same period last year.
- Inventory write-downs and unutilized manufacturing capacity costs remain a challenge, with $600 million in related costs for 2024.
- The Norovirus vaccine trial is on clinical hold in the US due to a single case of Guillain-Barré Syndrome, impacting trial timelines.
Good day, and thank you for standing by. Welcome to the Moderna fourth quarter 2024 conference call. (Operator Instructions) Please be advised, today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Lavina Talukdar. Please go ahead.
Thank you, Kevin. Good morning, everyone, and thank you for joining today's call to discuss Moderna's fourth quarter and full year 2024 financial results And business updates. You can access the press release issued this morning as well as the slides that we'll be reviewing by going to the Investors section of our website.
On today's call are Stéphane Bancel, Chief Executive Officer; Jamey Mock, Chief Financial Officer; and Stephen Hoge, President.
Before we begin, please note that this conference call will include forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Please see slide twoof the accompanying
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