Moderna(US:MRNA) Xin Lang Cai Jing·2026-01-12 12:34Core Viewpoint - Moderna expects sales to reach approximately $1.9 billion in 2025, which is near the upper limit of its previous revenue forecast of $1.6 billion to $2 billion, but still significantly lower than revenue levels during the COVID-19 pandemic [1] Group 1: Financial Projections - The CFO of Moderna, James Mock, stated that the vaccination rate in the U.S. retail channel is expected to decline by about 26% year-over-year in 2025, which is at the lower end of the company's forecast range of 20% to 40%, ultimately driving sales growth [1] - Moderna has lowered its expected operating expenses for 2025 by $200 million, adjusting the forecast range to $5 billion to $5.2 billion [1] - The company anticipates ending 2025 with cash reserves of $8.1 billion, up from a previous forecast of $6.5 billion to $7 billion, which includes $600 million from a $1.5 billion five-year loan obtained from Iris Management [1] Group 2: Future Growth and Product Pipeline - Moderna reiterated its revenue growth target of up to 10% for 2026 and expects to receive regulatory approval for two vaccines within the year: an independent flu vaccine and a combined COVID-flu vaccine [2] - If sales reach $1.9 billion in 2025, a 10% increase would project 2026 revenue at $2.1 billion, although formal guidance has not yet been provided [2] - The company expects that the flu vaccine and combined vaccine may not be approved before the peak respiratory disease season in 2026 but could boost revenue in 2027 [2] - In 2026, Moderna plans to obtain important clinical data for experimental vaccines in oncology, rare diseases, and infectious diseases, including late-stage results for a norovirus vaccine and mid-stage data for a cancer vaccine developed in collaboration with Merck for post-surgical melanoma patients [2] Group 3: Upcoming Financial Reports - Moderna plans to release its fourth-quarter and full-year financial report for 2025 on February 13 [3]