Moderna (11/2/2023)
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Moderna corporate presentation for November 2, 2023: https://s29.q4cdn.com/435878511/files/doc_earnings/2023/q3/presentation/Moderna-3Q23-Earnings-Presentation-Final.pdf
Slide 3 - Agenda for the earnings call
Slide 4 - 3Q23 and 2023 highlights: $1.8B in COVID product sales in 3Q23; updating full-year sales outlook to at least $6B
Slide 6 - 3Q23 Spikevax sales of $1.8B; total 2023 sales expected to be at least $6B
Slide 7 - Moderna's weekly US COVID vaccine market share in 2023 higher than 2022 to date
Slide 8 - Vaccination trends similar to 2022 on launch-adjusted basis, signaling strong demand
Slide 9 - Non-retail vaccination expected to increase as percentage of overall market
Slide 10 - Multi-pronged approach underway to increase urgency around COVID vaccination
Slide 11 - Market dynamics expected to support achieving $6B+ in sales
Slide 12 - mRNA-1345 has best-in-class efficacy and safety profile for RSV vaccine
Slide 13 - Positioned for successful RSV vaccine launch in 2024
Slide 15 - 3Q revenue $1.83B; net loss $3.63B; loss driven by $1.4B in manufacturing charges
Slide 16 - 2023 cost of sales expected at $5B with $1.6B in resizing charges; will drive future margin expansion
Slide 17 - Framework shows pathway to higher gross margins for respiratory vaccines
Slide 18 - 3Q results excluding $1.6B in charges: revenue $1.83B; net loss $549M
Slide 19 - Updated 2023 outlook across key metrics (sales, expenses, profitability) informed by recent trends
Slide 20 - Expect COVID franchise to be profitable starting in 2024
Slide 21 - Early thoughts on 2024-2025 financials: $4B in sales in 2024, growth in 2025
Slide 22 - Additional details on preliminary 2024-2025 financial framework
Slide 24 - Over next 5 years, anticipate up to 15 new product launches
Slide 25 - Overview of rich late-stage respiratory vaccines pipeline
Slide 26 - Phase 3 trial of mRNA-1083 (flu/COVID combo) now dosing participants
Slide 27 - CMV Phase 3 fully enrolled; updates on other latent and emerging disease vaccines
Slide 28 - INT adjuvant NSCLC Phase 3 to start imminently; update on immuno-oncology pipeline
Slide 30 - Conclusion slides emphasizing major themes: driving sales growth and profitability via commercial execution, disciplined investment, pipeline execution
