Moderna (NASDAQ: MRNA) experienced a slight uptick in its stock value following the announcement of its 2023 product sales that surpassed analyst predictions.
The company revealed unaudited product sales reaching around $6.7 billion for the year, surpassing the estimated consensus of $6.38 billion. Notably, Moderna significantly expanded its U.S. COVID-19 market share, hitting 48% year-to-date in 2023, a substantial increase from the previous year’s 37%.
This positive news nudged shares up by 1.1% in early Monday trading.
Looking ahead, Moderna restated its forecast, expecting product sales of roughly $4 billion in 2024, targeting a resurgence in sales growth by 2025. The company aims to break even in 2026 through strategic product launches and disciplined investments.
Additionally, Moderna highlighted nine late-stage programs with anticipated milestones set for 2024 and 2025, signaling continuous advancements in its pipeline.
The outlined financial framework for 2024-2026 outlines Moderna’s vision for its COVID-19 franchise, foreseeing profitability and emphasizing a breakeven point by 2026.