Moderna (NASDAQ: $MRNA) stock experienced a surge of approximately 14% on Thursday following news that its personalized cancer vaccine, developed in collaboration with Merck (MRK), demonstrated a 49% reduction in the risk of late-stage melanoma.
Despite grappling with maintaining Wall Street’s interest in its pipeline after the highs of its COVID vaccine success in 2022, with sales exceeding $19 billion, Moderna’s CEO, StĂ©phane Bancel, assured Yahoo Finance Live that the company is poised to introduce more products soon.
Bancel revealed ongoing efforts to bring additional vaccines to market, with plans for an RSV vaccine in 2024 and a flu vaccine, originally scheduled for 2025 due to a postponement. He expressed optimism that updated cancer vaccine data could potentially advance the flu vaccine’s launch to 2025. The cancer vaccine is currently in phase 3 trials in conjunction with Merck’s blockbuster cancer drug Keytruda.
Recent data disclosed on Thursday indicated that the vaccine, developed based on each recipient’s DNA, contributed to a 49% reduction in the risk of late-stage melanoma during a three-year follow-up from a phase 2b trial. This represents an improvement from the 44% reduction reported after two years in the previous year.
Bancel emphasized the positive trajectory of the data, stating, “We have ideas of how to improve the technology further from new science, from manufacturing. So I think it’s a big deal for melanoma patients.”
Furthermore, he highlighted a significant reduction in the manufacturing timeline for the personalized vaccine, now taking just 30 days from diagnosis to treatment.
With Wall Street eagerly anticipating more commercial products from Moderna, which currently only has its COVID-19 vaccine, Spikevax, on the market, the company has taken strategic steps to address concerns. Notably, CEO Stéphane Bancel will personally oversee commercial operations until 2025, aiming to enhance customer intimacy and streamline decision-making processes.
Bancel stated, “The key for us is that we go out of the pandemic into growth again,” emphasizing the company’s commitment to accelerating decision-making processes and fostering relationships with key customers.
What To Know About Moderna, Inc
Moderna, Inc., a biotechnology firm headquartered in Cambridge, Massachusetts, specializes in the discovery, development, and commercialization of messenger RNA therapeutics and vaccines.
The company’s focus extends to addressing a wide range of health issues, including infectious diseases, immuno-oncology, rare diseases, autoimmune disorders, and cardiovascular conditions. Moderna operates both domestically in the United States and internationally, with a presence in Europe.
The company’s portfolio of respiratory vaccines encompasses solutions for COVID-19, influenza, respiratory syncytial virus, spikevax, and hMPV/PIV3. Additionally, Moderna develops latent vaccines targeting cytomegalovirus, Epstein-Barr virus, herpes simplex virus, varicella-zoster virus, and human immunodeficiency virus. Public health vaccines offered by Moderna include those addressing Zika and Nipah viruses.
In addition to vaccines, Moderna provides a range of systemic secreted and cell surface therapeutics. The company is actively involved in cancer vaccine development, focusing on personalized cancer vaccines, KRAS-targeted vaccines, and checkpoint vaccines. Its intratumoral immuno-oncology products and various therapeutics such as localized regenerative, systemic intracellular, and inhaled pulmonary treatments contribute to its comprehensive approach to healthcare.
Moderna has established strategic alliances and collaborations with key partners, including AstraZeneca, Merck, Vertex Pharmaceuticals Incorporated, Vertex Pharmaceuticals (Europe) Limited, Chiesi Farmaceutici S.p.A., Metagenomi, Inc., Carisma Therapeutics, Inc., CytomX Therapeutics, Defense Advanced Research Projects Agency, Biomedical Advanced Research and Development Authority, Institute for Life Changing Medicines, and The Bill & Melinda Gates Foundation. Additionally, the company has a strategic partnership with Caris Life Sciences to advance mRNA-based oncology therapeutics.
Originally known as Moderna Therapeutics, Inc., the company changed its name to Moderna, Inc. in August 2018. Moderna was founded in 2010 and has emerged as a prominent player in the field of mRNA-based therapeutics and vaccines.
What is $MRNA stock net income?
For the twelve months ending on September 30, 2023, Moderna reported a net income of -$3.466 billion, reflecting a year-over-year decline of 129.46%. In 2022, the company’s annual net income was $8.362 billion, indicating a 31.47% decrease from the previous year (2021). Furthermore, in 2021, Moderna’s annual net income was $12.202 billion, marking a significant 1733.47% decline compared to the year 2020.
Disclaimer: This website provides information about cryptocurrency and stock market investments. This website does not provide investment advice and should not be used as a replacement for investment advice from a qualified professional. This website is for educational and informational purposes only. The owner of this website is not a registered investment advisor and does not offer investment advice. You, the reader / viewer, bear responsibility for your own investment decisions and should seek the advice of a qualified securities professional before making any investment.
