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☆ Moderna shares plunge on plans to cut $1.1 billion in costs, launch 10 new products by 2027
▼ + stars: | 2024-09-12 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Moderna on Thursday said it plans to cut around $1.1 billion in expenses by 2027 and win approvals for several new products as it charts a path forward after the rapid decline of its Covid business. The company aims to trim R&D spending to a range of $3.6 billion to $3.8 billion in 2027, down from an expected $4.8 billion at the end of this year, according to a release. Moderna also has five non-respiratory products across cancer, latent viruses and rare diseases that could be approved by 2027, according to the company's release. The company expects 2025 revenue to come in at $2.5 billion to $3.5 billion. From 2026 to 2028, Moderna expects a compounded annual growth rate of more than 25% as new products launch.

Persons: Moderna, Stephane Bancel, Leerink, Mani Foroohar, Foroohar, Michael Yee, Bancel Organizations: Moderna, CNBC, Jefferies Locations: New York, U.S

☆ Moderna CEO: Plans to file Covid and flu combo shot with FDA by the end of the year
▼ + stars: | 2024-09-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailModerna CEO: Plans to file Covid and flu combo shot with FDA by the end of the yearStephane Bancel, Moderna CEO, joins 'Squawk Box' to discuss Moderna's recent stock performance, what could explain the stock's underperformance, and much more.

Persons: Stephane Bancel Organizations: Email Moderna, FDA, Moderna

☆ Moderna stock falls more than 10% as it slashes guidance on low EU sales, tough U.S. vaccine market
▼ + stars: | 2024-08-01 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

It's Moderna's second-ever commercially available product after its Covid vaccine, which has seen demand plunge as the world emerges from the pandemic and relies less on protective shots and treatments. He added that "we've been having quite intense discussions with governments across Europe" to get Covid vaccine supply from Moderna. He is referring to the European Union's massive renegotiated Covid vaccine supply contract with Pfizer and its German partner BioNTech . Its shares are up nearly 20% this year on increasing confidence around its pipeline and messenger RNA platform, which is the technology used in its Covid vaccine and RSV shot. Moderna is also developing a stand-alone flu shot, a personalized cancer vaccine with Merck and shots for latent viruses, among other products.

Persons: It's Moderna's, Stephane Bancel, we've, Bancel, BioNTech, Moderna, I'm Organizations: Moderna Inc, Moderna, Pfizer, GSK, LSEG, Wall, Research, Merck Locations: Cambridge , Massachusetts, Europe, U.S, Moderna, Ukraine

☆ Moderna stock tumbles 21% as earnings show people aren't getting as many COVID shots
▼ + stars: | 2024-08-01 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +2 min

Moderna lowered its annual sales forecast as sales of its COVID-19 vaccine dropped by 37%. The company's vaccine sales struggled especially in Europe, where Pfizer has a deal until 2026. AdvertisementPeople are getting fewer COVID-19 shots, and it's hitting former vaccine heavyweight Moderna, new earnings show. The company's second quarter revenue dropped to $241 million, compared to $344 million a year ago, as sales of its COVID-19 vaccine dropped 37% year-over-year. Moderna also lowered its sales forecast for the year to between $3 billion and $3.5 billion, down from its previous forecast of around $4 billion.

Persons: —, it's, Stephane Bancel Organizations: Moderna, Pfizer, Service Locations: Europe, Moderna, Covid

☆ Moderna CEO Stephane Bancel on Q2 results, slashing its full-year sales guidance
▼ + stars: | 2024-08-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailModerna CEO Stephane Bancel on Q2 results, slashing its full-year sales guidanceModerna CEO Stephane Bancel joins 'Squawk Box' to discuss the company's quarterly earnings results, why the company is slashing its full-year sales guidance, state of the company's Covid vaccines, and more.

Persons: Stephane Bancel Organizations: Email Moderna

☆ 5 things to know before the stock market opens
▼ + stars: | 2024-06-11 | by ( Sean Conlon | ) www.cnbc.com time to read: +4 min

At Apple's annual Worldwide Developers Conference on Monday, the company unveiled "Apple Intelligence" – its long-awaited AI software. Apple CEO Tim Cook stressed privacy and personalization with the system, moving beyond AI into "personal intelligence." Siri will also be getting some upgrades with Apple Intelligence, and Apple announced that Siri will also be able to tap into ChatGPT when needed through the company's partnership with OpenAI. The activist hedge fund has taken a $1.9 billion stake in Southwest Airlines , which makes it one of the airline's biggest investors. This follows a number of other stakes the firm has built within the past two months, such as a $2.5 billion stake in Texas Instruments, a $2 billion stake in SoftBank and a $1 billion stake in Anglo American.

Persons: Tim Cook, John Giannandrea, Craig Federighi, Nic Coury, Siri, Elliott, Gary Hershorn, it's, Bob Jordan, Gary Kelly, Fred Tanneau, Stephane Bancel, Francis Scott Key, Michael A Organizations: Nasdaq, Dow Jones, Nvidia, Apple, Developers, AFP, Getty, Apple Intelligence, OpenAI, Max, Southwest Airlines, Hollywood International Airport, Corbis, Elliott Management, Texas, Moderna, Afp, Francis Scott Key Bridge, McCoy, Washington Post Locations: Cupertino , California, Fort Lauderdale, Fort Lauderdale , Florida, SoftBank, U.S, Baltimore

☆ Moderna’s combination flu & Covid vaccine is more effective than existing shots in late-stage trial
▼ + stars: | 2024-06-10 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailModerna’s combination flu & Covid vaccine is more effective than existing shots in late-stage trialModerna CEO Stephane Bancel joins 'Squawk Box' to discuss the data from its phase three trial of a combination flu and Covid-19 vaccine, the company's vaccine pipeline outlook, and more.

Persons: Stephane Bancel

☆ Moderna's combination Covid, flu vaccine is more effective than existing shots in late-stage trial
▼ + stars: | 2024-06-10 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Moderna on Monday said its combination vaccine that targets both Covid-19 and the flu was more effective than existing standalone shots for those viruses in a late-stage trial. Moderna's messenger RNA combination shot, called mRNA-1083, is made up of both the company's vaccine candidate for seasonal influenza and a newer, "next-generation" version of its Covid shot. The study compared the combination shot with an enhanced flu vaccine called Fluzone HD and Moderna's currently licensed Covid shot, Spikevax, in one group of patients ages 65 and above. Moderna is also developing a combination shot targeting the flu and RSV, and another vaccine targeting all three respiratory viruses: Covid, flu and RSV. Meanwhile, Pfizer and BioNTech also are studying a vaccine that targets both Covid and the flu in a late-stage trial.

Persons: Stephane Bancel, Novavax, Bancel, Moderna, BioNTech Organizations: Pfizer, Novavax, Moderna, Covid Locations: U.S

☆ Moderna, Merck say vaccine improved survival in patients with deadly skin cancer
▼ + stars: | 2024-06-03 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

Moderna and Merck released more positive three-year data Monday on their experimental vaccine, given to patients with the most deadly form of skin cancer in combination with the therapy Keytruda. The vaccine together with Merck's Keytruda improved survival and showed long-lasting efficacy in a midstage study in patients with a deadly form of skin cancer. Melanoma is responsible for the large majority of skin cancer deaths, according to the American Cancer Society. Moderna is also conducting another phase three trial of the vaccine in patients with a type of lung cancer. This year, Merck and Moderna started a two-part mid- to late-stage trial on the vaccine and Keytruda in patients at an advanced stage of a common skin cancer.

Persons: Merck's, Kyle Holen, Keytruda, Stephane Bancel, Bancel Organizations: Moderna, Merck, American Society of Clinical Oncology, CNBC, U.S . Food, Drug Administration, FDA, American Cancer Society Locations: Chicago, U.S, Moderna

☆ FDA approves Moderna's RSV vaccine for seniors, the company's second-ever product
▼ + stars: | 2024-05-31 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

The Food and Drug Administration on Friday approved Moderna's vaccine for respiratory syncytial virus for adults ages 60 and above, the company's second-ever product to enter the U.S. market. The approval of Moderna's shot is based on a late-stage trial on older adults, who are more vulnerable to severe cases of RSV. The company's shot is also the only RSV vaccine to be available in a pre-filled syringe, which is designed to make it easier to administer to patients. An advisory panel to the CDC will vote in June on recommendations for the use and intended population of Moderna's shot. Moderna's full-year 2024 sales guidance of roughly $4 billion includes revenue from its RSV vaccine.

Persons: Moderna's, Stéphane Bancel Organizations: Drug Administration, Moderna, Centers for Disease Control, CDC, GSK, Pfizer Locations: U.S

☆ Cramer's Lighting Round: Sell AMC
▼ + stars: | 2024-05-24 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Moderna's year-to-date stock performance. Stock Chart Icon Stock chart icon Comfort Systems' year-to-date stock performance. Stock Chart Icon Stock chart icon Sunoco's year-to-date stock performance. Stock Chart Icon Stock chart icon Celestica's year-to-date stock performance. Stock Chart Icon Stock chart icon AMC Entertainment's year-to-date stock performance.

Organizations: Comfort Systems, AMC, AMC Entertainment, Systems, Inspire Medical

☆ Moderna loses less than expected as Covid vaccine sales beat estimates, cost cuts take hold
▼ + stars: | 2024-05-02 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

Moderna on Thursday posted a narrower-than-expected loss for the first quarter as the company's cost-cutting efforts took hold and sales of its Covid vaccine, its only commercially available product, topped estimates. The biotech company booked first-quarter sales of $167 million, with revenue from its Covid shot dropping roughly 90% from the same period a year ago. The company reiterated its full-year 2024 sales guidance of roughly $4 billion, which includes revenue from its RSV vaccine. For the first quarter, Mock said the company is "more encouraged by what we're seeing from a productivity perspective" than the higher sales of its Covid vaccine. Cost of sales was $96 million for the fourth quarter, down 88% from the same period a year ago.

Persons: we've, Stéphane Bancel, Jamey Mock, Mock, OpenAI Organizations: Moderna, LSEG, CNBC, Research, Mock, Merck Locations: Moderna, U.S, America

☆ Moderna CEO Stephane Bancel on Q1 results: The vaccine platform is coming together very nicely
▼ + stars: | 2024-05-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailModerna CEO Stephane Bancel on Q1 results: The vaccine platform is coming together very nicelyModerna CEO Stephane Bancel joins 'Squawk Box' to discuss the company's quarterly earnings results, which posted a narrower-than-expected loss for the first quarter as the company’s cost-cutting efforts took hold and sales of its Covid vaccine topped estimates, vaccine pipeline, growth outlook, and more.

Persons: Stephane Bancel Organizations: Email Moderna

☆ Moderna CEO on vaccines pipeline: Investing aggressively to bring important medicine to patients
▼ + stars: | 2024-03-27 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailModerna CEO on vaccines pipeline: Investing aggressively to bring important medicine to patientsModerna CEO Stephane Bancel joins 'Squawk Box' to discuss the company's annual vaccines day, the announcement of multiple vaccine programs advancing to late-stage clinical trials, Moderna's vaccines pipeline outlook, and more.

Persons: Stephane Bancel Organizations: Email Moderna

☆ Moderna moves three vaccines into final stage trials as it works to rebound from Covid slump
▼ + stars: | 2024-03-27 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Moderna has more to offer beyond its Covid vaccine. The update brings Moderna a step closer to having multiple products on the market, which it badly needs amid plunging demand for Covid shots worldwide. Moderna will chart its post-Covid future Wednesday during its fifth annual "Vaccines Day," an investor event in Boston focused on the company's vaccine portfolio. That includes its combination vaccine against Covid and the flu and a shot against another common herpes virus called cytomegalovirus, or CMV. It also includes a new and improved version of Moderna's Covid shot.

Persons: norovirus, Barr, Moderna, Blackstone, Stéphane Bancel Organizations: Moderna, Epstein, Covid, Blackstone Life Sciences, Blackstone Group Locations: Boston, U.S

☆ Moderna CEO Stephane Bancel on Q4 results: There is so much more to Moderna than Covid
▼ + stars: | 2024-02-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailModerna CEO Stephane Bancel on Q4 results: There is so much more to Moderna than CovidModerna CEO Stephane Bancel joins 'Squawk Box' to discuss the company's quarterly earnings results, which posted a surprise quarterly profit, boosted by deferred revenue and cost cuts even as the company saw slumping sales from its Covid vaccine, what's in the company's drug pipeline, growth outlook, and more.

Persons: Stephane Bancel Organizations: Email Moderna, Covid Moderna Locations: Moderna

☆ Cramer's Lighting Round: 'Hold on to' BioNTech
▼ + stars: | 2024-01-16 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Amphastar's year-to-date stock performance. Stock Chart Icon Stock chart icon Moderna's year-to-date stock performance. Stock Chart Icon Stock chart icon BioNTech's year-to-date stock performance. Stock Chart Icon Stock chart icon Pan American Silver's year-to-date stock performance. Stock Chart Icon Stock chart icon Lockheed Martin's year-to-date stock performance.

Persons: Becton Dickinson, let's, Stephane Bancel, Lockheed Martin, Barry Sternlicht Organizations: Pan, Lockheed, Starwood, Starwood Property Locations: Moderna

☆ Moderna CEO Stephane Bancel on Q3 results
▼ + stars: | 2023-11-02 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailModerna CEO Stephane Bancel on Q3 resultsModerna CEO Stephane Bancel joins 'Squawk Box' to discuss the company's quarterly earnings results, and more.

Persons: Stephane Bancel Organizations: Email Moderna

☆ Moderna stock falls 10% as hefty Covid vaccine write-downs drive big loss
▼ + stars: | 2023-11-02 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Moderna on Thursday posted a steep loss for the third quarter as the drugmaker recorded a large write-down due to unused doses of its Covid vaccine, its only marketable product. Revenue: $1.83 billion vs. $1.40 billion expectedShares of Moderna fell more than 10% in premarket trading Thursday. Moderna posted a net loss of $3.63 billion, or $9.53 per share, for the quarter. The biotech company generated third-quarter sales of $1.83 billion, with sales of its Covid shot dropping 44% from the same period a year ago. In August, Moderna said it expected its shot to rake in $6 billion to $8 billion in revenue in 2023.

Persons: Stéphane Bancel, Bancel, Moderna Organizations: Moderna, LSEG, Revenue Locations: U.S

Moderna on Tuesday announced that its combination shot for flu and COVID-19 is the first candidate to make it to late-stage trial. It “offers greater convenience and has the potential to lead to increased compliance with vaccine recommendations,” it added. The shots won’t be available for this respiratory virus season, as Moderna said it is targeting regulatory approval for the shot in 2025. Moderna earlier this month announced positive data from its earlier studies of the combo shot, finding that it produced an immune response similar to or greater than licensed flu shots and Moderna’s bivalent COVID-19 shot. “We are excited to move combination respiratory vaccines into Phase 3 development and look forward to partnering with public health officials to address the significant seasonal threat posed to people by these viruses.”

Persons: “, Moderna, bivalent, Stéphane Bancel Organizations: Moderna, Tuesday, Northern Hemisphere, Disease Control, ” Moderna Locations: Moderna

☆ Moderna combination Covid, flu vaccine moves to final stage trial after positive data
▼ + stars: | 2023-10-04 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Moderna on Wednesday said its combination vaccine targeting Covid and the flu will move to a final stage trial in adults ages 50 and above this year after showing positive results in an early to mid-stage study. The trial evaluated the combination shot in two different age groups: people 50 to 64 years of age and participants 65 to 79. The safety data of mRNA-1083 was similar to that of the stand-alone Covid shot, according to Moderna. No new safety concerns were identified with the combination vaccine. Moderna is also developing a combination shot targeting the flu and RSV, and another vaccine targeting all three respiratory viruses: Covid, flu and RSV.

Persons: Stéphane Bancel, BioNTech Organizations: Moderna, Pfizer, GlaxoSmithKline Locations: Moderna

☆ Moderna says flu vaccine showed promising results in phase three trial, paving path to approval
▼ + stars: | 2023-09-13 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Wednesday's results are also a sigh of relief for Moderna after the company pushed back its experimental flu shot program in April. Moderna compared the flu vaccine, dubbed mRNA-1010, to a currently approved seasonal flu vaccine from GlaxoSmithKline called Fluarix. Moderna's flu shot also generated higher seroconversion rates, which refers to the development of specific antibodies against a virus. Also on Wednesday, Moderna said it is ending a separate phase three trial on the first version of its flu vaccine. "With today's positive phase 3 flu results, along with previous results in Covid and RSV, we are now three for three on advancing respiratory disease programs to positive phase 3 data."

Persons: Moderna, Stephane Bancel Organizations: Moderna, U.S, GlaxoSmithKline, World Health Organization –, Food and Drug Administration, FDA, Pfizer, GSK Locations: Moderna, Covid

☆ FDA approves updated Covid vaccines from Pfizer and Moderna as hospitalizations rise
▼ + stars: | 2023-09-11 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

The Food and Drug Administration on Monday approved updated Covid vaccines from Pfizer and Moderna , putting the shots on track to reach Americans within days as U.S. hospitalizations from the virus rise. The updated vaccines from Pfizer and Moderna won't be available to Americans just yet. The Biden administration said in August that it expects new single-strain vaccines from Pfizer, Moderna and Novavax targeting XBB.1.5 to be available to the public in mid-September. The upcoming arrival of updated vaccines offers some reassurance to Americans as the nation sees an increase in Covid cases and hospitalizations. Bourla and Moderna CEO Stéphane Bancel, in a separate statement, urged Americans to receive their updated Covid shot during the same appointment as their annual flu shot.

Persons: Biden, Pfizer's, Albert Bourla, Stéphane Bancel, hospitalizations Organizations: Pfizer, BioNTech, Peabody Institute Library, Drug Administration, Moderna, FDA, CDC, Covid, EG Locations: Peabody , Massachusetts, U.S

☆ Billionaires and corporate execs have dumped $9 billion worth of stock this year amid the market's latest rally
▼ + stars: | 2023-07-11 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Billionaires and CEOs have dumped $9 billion in stock this year. Many of those sales have been concentrated in the tech sector amid Wall Street's frenzy over AI. Executives have cashed in on the rally as the S&P 500 recovers from a dismal 2022 performance. Meanwhile, AirBnB co-founder Joe Gebbia sold off $893 million of his company's stock during the first half. Oracle CEO Safra Catz also trimmed her holdings of the company, selling $470 million worth of the company's stock.

Persons: Walton, AirBnB, Joe Gebbia, Larry Ellison, Safra Catz, Salesforce's Marc Benioff, Stephane Bancel, Josh Harris Organizations: Service, CNBC, Walmart, Sam's, Oracle, Moderna, Apollo, Vanda Research Locations: Wall, Silicon

☆ Moderna strikes deal to develop mRNA drugs in China
▼ + stars: | 2023-07-05 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Moderna on Wednesday said it struck a deal with Chinese officials to research, develop and manufacture messenger RNA medicines in the country, despite rising tensions between the U.S. and China. The Massachusetts-based biotech company signed a memorandum of understanding and a related land collaboration deal to develop drugs that will "be exclusively for the Chinese people" and won't "be exported," a Moderna spokesperson told CNBC. The Moderna spokesperson did not confirm the report or comment on the size of the deal. Moderna in May said it was keen to sell its mRNA Covid vaccine to China after registering a legal entity in the world's second-largest economy. The country has also struggled to develop mRNA technology at home during the pandemic.

Persons: Stéphane Bancel, It's, drugmakers, Biden Organizations: Moderna, U.S, CNBC, The Moderna, Pfizer, China's Ministry of Commerce, AstraZeneca, Novo Nordisk, Merck, Sanofi, GE HealthCare Technologies Locations: China, The Massachusetts, Shanghai, Japan, Canada, Australia, Kenya, Beijing, New York

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