Moderna Stock Is Trading Higher Monday: What's Going On?

Moderna Inc MRNA shares are rising Monday after the company provided updates at a JPMorgan conference.

What Happened: Moderna announced a series of business updates and progress on the company’s pipeline of mRNA medicines at the 42nd annual JPMorgan Healthcare Conference on Monday.

Moderna said it came into 2024 with 45 total therapeutic and vaccine programs. Nine of those programs are in late-stage development.

“We are preparing for the launch of Moderna’s second product, our RSV vaccine. 2024 is going to be an exciting year for the Company with multiple milestones across our nine late-stage programs. Through these product launches, we are focused on returning to sales growth in 2025,” said Stéphane Bancel, CEO of Moderna.

Moderna said it closed out 2023 with $6.7 billion in Covid-19 vaccine sales. The company ended the year with $13 billion in cash, equivalents and investments.

Looking ahead, Moderna expects its Covid-19 franchise to generate approximately $4 billion in sales in 2024 and to be profitable for the year and beyond. Moderna expects to return to organic sales growth in 2025 and expects to break even in 2026 on the back of product launches and disciplined investments.

Moderna noted that it will report its fourth-quarter financial results on Feb. 22. The company will also hold a Vaccines Day on March 27 and an R&D Day on Sept. 12.

See Also: 5 Biotech Stocks That Should Be On Investors’ Radar As JPMorgan Healthcare Conference Gets Underway Monday

MRNA Price Action: Moderna shares were up 4.19% at $115.76 at the time of publication, according to Benzinga Pro.