Moderna ( NASDAQ:MRNA ) gave several updates on pipeline developments and its business outlook for 2023.
The company expects to make about $18.4 billion in preliminary sales revenue from its COVID-19 vaccines alone in 2022. This number is bigger than we thought it would be because it’s more than our model’s estimate of $18.0 billion. The number is also within the range of $18-$19 billion that management said before.
Also, the company expects to spend around $3.3 billion on R&D in 2022. The company’s management thinks there will be about $18 billion in cash and cash equivalents at the end of the year.
In the past year, Moderna stock has dropped 16.9%, which is less than the 17.3% drop in the industry as a whole.
Moderna Stock: Outlook for 2023
Moderna thinks it will sell at least $5 billion of COVID vaccines in 2023, based on confirmed advance purchase agreements and contract deferrals. Management says this number does not include sales in the United States or new contracts with Europe, Japan, or other key markets.
Management is also working to move its COVID-19 vaccine supply from contracts with the government to commercial sales. The WSJ says that each dose of the COVID-19 vaccine from Moderna will cost between $110 and $130.
Moderna also said it would spend more on research and development (R&D). In 2023, it plans to spend about $4.5 billion. This is a big jump from how much the company used to spend on research and development. This is because the company wants to expand its market portfolio beyond the COVID-19 vaccine.
News About the Pipeline
Moderna is currently working on 48 ...
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