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Moderna (NASDAQ:MRNA) CEO Stéphane Bancel said Tuesday that the company’s share in the U.S. market for COVID-19 vaccines improved to 48% for the 2023 fall season from 37% in the fall of 2022.
Issuing the vaccine maker’s 2023 shareholder letter, Bancel said that MRNA is eyeing sales growth in 2025 as it plans to roll out its RSV vaccine candidate this year ahead of a potential launch of its flu/COVID combination vaccine as early as 2025.
Moderna (MRNA) swung to a quarterly loss with its Q3 2023 results in November as its net product sales from the Spikevax COVID vaccine declined 44% YoY to $1.8B.
“We expect COVID sales to stabilize in a fully endemic market, and we will build on our current momentum to grow our market share for Spikevax in 2024,” Bancel added.
Detailing priorities for the years ahead, he highlighted cost optimization and plans to advance its late-stage pipeline to deliver organic sales growth.
The Cambridge, Massachusetts-based biotech intends to double the number of its Phase 3 programs within two years and launch up to 15 products in five years, including four expected by 2025.
Bancel said that the company will break even in 2026 as its revenue grows with the launch of new products, which in turn could lead to a decline in late-stage R&D expenses.
