Moderna to Cut $1.1 Billion in R&D Spending as Vaccine Sales Decline

The biotech firm delays its breakeven target to 2028 and plans to focus on 10 new product approvals by 2027.

Moderna will reduce its research and development budget by 20% over the next three years, aiming to save $1.1 billion annually by 2027.
The company is discontinuing five programs and slowing some late-stage studies to achieve these cuts.
Moderna's revenue projections for 2025 fall below Wall Street expectations, with an estimated range of $2.5 billion to $3.5 billion.
The firm plans to focus on obtaining FDA approval for 10 new products, including a combination COVID-19 and flu vaccine and treatments for RSV and cancer.
Moderna's shares dropped by over 12% following the announcement, marking a significant decline from its pandemic-era highs.