Moderna Announces Changes to Commercial Organization to Prepare for Multiple Product Launches in 2024 and 2025

Rhea-AI Summary

Moderna, Inc. (NASDAQ:MRNA) announced changes to its operating model to focus on driving sales of its COVID-19 vaccine and preparing for the launch of its RSV vaccine in 2024. The company plans to increase executive focus on driving sales of Spikevax and the expected launch of its RSV vaccine next year. Stephane Bancel, CEO of Moderna, will assume responsibility for sales and marketing in 2024, while Stephen Hoge, M.D., President of Moderna, will take on pipeline commercial strategy and Medical Affairs. Arpa Garay, previously Chief Commercial Officer, is expected to leave the Company in the coming months.

CAMBRIDGE, MA / ACCESSWIRE / December 12, 2023 / Moderna, Inc. (NASDAQ:MRNA) today announced changes to its operating model to bring focus to its short- and long-term business goals.

The Company is focused on driving continued sales of its COVID-19 vaccine and launching its RSV vaccine in 2024, while also preparing to launch multiple products per year from 2025 forward. The Company has decided to increase executive focus on driving sales of Spikevax and the expected launch of its RSV vaccine next year. To do this, Stephane Bancel, Chief Executive Officer of Moderna, will assume responsibility for sales and marketing in 2024, working directly with the commercial team. To ensure the Company also maintains momentum on its launches beyond 2024, Stephen Hoge, M.D., President of Moderna, will assume responsibility for pipeline commercial strategy and for Medical Affairs. As part of these changes, Arpa Garay, previously Chief Commercial Officer, is expected to leave the Company in the coming months and will remain an advisor during the transition.

"We made significant progress in 2023 and are excited about the year ahead as we focus on driving continued sales in 2024 and 2025," said Stéphane Bancel, Chief Executive Officer of Moderna. "I am grateful for Arpa's leadership and for her help in establishing a strong commercial foundation. Our strategy is clear, our pipeline continues to be highly productive, and we will remain focused on execution."

About Moderna

Moderna is a leader in the creation of the field of mRNA medicine. Through the advancement of mRNA technology, Moderna is reimagining how medicines are made and transforming how we treat and prevent disease for everyone. By working at the intersection of science, technology and health for more than a decade, the company has developed medicines at unprecedented speed and efficiency, including one of the earliest and most effective COVID-19 vaccines.

Moderna's mRNA platform has enabled the development of therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases and autoimmune diseases. With a unique culture and a global team driven by the Moderna values and mindsets to responsibly change the future of human health, Moderna strives to deliver the greatest possible impact to people through mRNA medicines. For more information about Moderna, please visit modernatx.com and connect with us on X (formerly Twitter), Facebook, Instagram, YouTube and LinkedIn.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding: potential launch of its RSV vaccine in 2024 and additional products from 2025 forward; future sales of its COVID-19 vaccine; and changes to its commercial organization. The forward-looking statements in this press release are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna's control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include, among others, those risks and uncertainties described under the heading "Risk Factors" in Moderna's Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the U.S. Securities and Exchange Commission (SEC), and in subsequent filings made by Moderna with the SEC, which are available on the SEC's website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this press release in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna's current expectations and speak only as of the date of this press release.

Moderna Contacts

Media:
Chris Ridley
Vice President, Communications
617-800-3651
Chris.Ridley@modernatx.com

Investors:
Lavina Talukdar
Senior Vice President & Head of Investor Relations
617-209-5834
Lavina.Talukdar@modernatx.com

SOURCE: Moderna, Inc.

View the original press release on accesswire.com

FAQ

What changes did Moderna, Inc. (NASDAQ:MRNA) announce to its operating model?

Moderna announced changes to its operating model to bring focus to its short- and long-term business goals, with increased executive focus on driving sales of its COVID-19 vaccine and preparing for the launch of its RSV vaccine in 2024.

Who will assume responsibility for sales and marketing at Moderna in 2024?

Stephane Bancel, CEO of Moderna, will assume responsibility for sales and marketing in 2024.

What is the expected launch for Moderna's RSV vaccine?

Moderna is preparing to launch its RSV vaccine in 2024.

Who is expected to leave Moderna, Inc. in the coming months?

Arpa Garay, previously Chief Commercial Officer, is expected to leave the Company in the coming months.