Overview

• Stéphane Bancel said in an employee memo that about 800 jobs will be eliminated by December to reduce headcount from roughly 5,800 to under 5,000.
• The company intends to lower its annual operating expenses by roughly $1.5 billion by 2027 through headcount reductions, R&D scaling, supplier renegotiations and manufacturing efficiencies.
• Sales of its COVID-19 vaccine have fallen sharply since the pandemic peak, and its RSV shot has underperformed initial expectations.
• Health policy changes under HHS Secretary Robert F. Kennedy Jr. and stricter FDA approval criteria have narrowed market access for Moderna’s mRNA products.
• CEO Bancel underscored a strategic pivot to a broader mRNA pipeline, noting three approved products and potential for up to eight more approvals over the next three years.