By Denny Jacob
Moderna set financial targets for 2025 as companies in the healthcare space rolled out corporate updates in conjunction with a health conference held by J.P. Morgan.
The biotech company said Monday it expects between $1.5 billion and $2.5 billion in revenue in 2025, mostly in the second half of the year due to Spikevax and mRESVIA vaccine sales. Analysts polled by FactSet expect revenue around $2.92 billion in 2025.
Moderna also expects cash cost reductions of $1 billion in 2025 as it accelerates and expands previous cost efficiency efforts and prioritization programs. It also expects an additional $500 million in potential cash cost savings in 2026.
Chief Executive Stephane Bancel said the company remains focused on driving sales growth, delivering up to 10 product approvals over the next three years, and reducing costs across the business.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
January 13, 2025 07:26 ET (12:26 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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