Adam Glanzman. Bloomberg. Getty Images
The Key Takeaways
- Moderna shares surged Friday, a day after a senior executive made bullish comments at a healthcare conference about the vaccine maker's pipeline and cash position.
- Moderna stock is down almost 60% this year, however, and—like other vaccine makers—was hit recently by President-elect Donald Trump's nomination of vaccine sceptic Robert F. Kennedy Jr. to head the Department of Health and Human Services.
- On Friday, though, the shares were among the S&P 500's top gainers.
Moderna (MRNA) shares surged Friday, a day after a senior executive made bullish comments at a healthcare conference about the vaccine maker’s pipeline and cash position.
Moderna shares rose 7% on Friday afternoon, and 11% over the last two sessions. Moderna shares have fallen almost 60% in the last year due to a decline in demand for COVID-19 vaccinations.
Moderna head of investor relations Lavina Talukdar said at the Jefferies London Healthcare Conference on Thursday that the Cambridge, Mass.-based company sees 2028 as the year by which its revenue can sustain its business.
"We expect to end the year with $9 billion in cash," Talukdar said, according to a transcript provided by AlphaSense. "Our investment rate … is declining each year going forward. And we anticipate that $9 billion will have us launching 10 products over the next three years that will start to contribute to revenue a year after approval."
Moderna Exec Downplays RFK Jr. Nomination to be HHS head
Talukdar played down the nomination of vaccine-skeptic Robert F. Kennedy Jr. as the head of the Department of Health and Human Services by President elect Donald Trump. This had been a blow to pharma companies such as Moderna (PFE), Pfizer (LLY), and Eli Lilly.
"If you listen to where his stance is on vaccines most recently, so starting— dating from 2022 and as recently as shortly after the election results, he is a lot more moderate than I would have thought," she said.
Moderna recently swung to surprise Q3 profit
In the month of April, the company posted a surprise profit. It also exceeded the revenue forecasts for the third-quarter following the launch in January this year.
In September, the company said it was launching a plan to cut its research and development (R&D) budget by $1.1 billion over the next three years as it focuses on getting 10 products like cancer treatments and vaccines for several respiratory illnesses approved by the Food and Drug Administration.
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