Moderna Anticipates Robust Sales of Up to $8 Billion in 2023, Citing the Continuation of Covid

In a recent dialogue on CNBC, Moderna Inc.’s CEO, Stephane Bancel, exuded confidence regarding the financial prospects of his company, projecting sales in the range of $6 billion to $8 billion for the year 2023. This projection comes on the heels of the FDA’s approval of Moderna’s COVID-19 booster on September 11.

“It is already in trucks. I’m going to get mine on Monday.We think it’s going to be like a flu shot. Covid is not going away,” Bancel remarked.

Bancel firmly believes in the recurrent nature of COVID booster shots, an opinion that significantly influences Moderna’s business approach and investment strategies concerning this product.

Furthermore, Moderna is not solely concentrating on COVID-19 related developments. The company is also directing its efforts towards extensive research on the applications of mRNA technology. This includes utilizing the technology to enhance the human immune system, potentially aiding in the prevention of other ailments, including cancer, as detailed in the interview.

“We designed a product that will teach your immune system to exactly look for the mutation you have because cancer is a mutation of DNA [using the mRNA technology],” explained Bancel.

Analysis of Moderna’s Stock Performance

Moderna witnessed a remarkable surge in its stock value in 2021, a period that coincided with the height of the Covid pandemic and the approval of booster shots by regulatory bodies. This environment facilitated a meteoric rise in Moderna’s share price, escalating from $64 per share in 2020 to an unprecedented high of $426.40 per share in September 2021, denoting a staggering increase of over 565% as a consequence of the pandemic. As of now, Moderna shares are valued at $105.24 each.

Looking forward, the company envisages substantial investments in the realm of research and development of new products, earmarking $25 billion for initiatives slated for 2024 to 2028. Moreover, Moderna anticipates a turnover ranging between $10 billion and $15 billion by 2028, stemming from the sales of these forthcoming innovations.