Overview
- Moderna obtained a five-year credit facility from Ares, drawing $600 million now with optional tranches of $400 million available through November 2027 and $500 million through November 2028.
- Executives set a target of up to 10% revenue growth in 2026 and a breakeven goal in 2028, paired with $500 million in expense reductions in both 2026 and 2027.
- The company is discontinuing R&D for cytomegalovirus, varicella‑zoster, herpes simplex and glycogen storage disease type 1a after an October CMV failure prompted broader pipeline cuts.
- Strategy updates emphasize expanding seasonal vaccines, including planned flu, norovirus and a flu/COVID combination shots, with proceeds steered to oncology and rare disease programs.
- Sales guidance for 2025 stands at $1.6 billion to $2.0 billion, with management pointing to UK, Canada and Australia supply agreements and U.S. demand for the mNEXSPIKE COVID vaccine to support 2026 growth.