Moderna sees 2024 revenue of about $4B from respiratory franchise

Revenue consensus $4.48B. Moderna issued the following 2024 financial framework: The company expects revenue of approximately $4B for 2024 from its respiratory franchise. The company expects cost of sales for 2024 to be approximately 35% of product sales for the year. The company expects full-year 2024 research and development expenses of approximately $4.5B, compared to $4.8B in 2023. The company expects full-year 2024 selling, general and administrative expenses of approximately $1.3B, compared to $1.5B in 2023. The company anticipates its full-year tax expense to be negligible. The company expects capital expenditures for 2024 of approximately $0.9B. The company expects 2024 year-end cash and investments of approximately $9B. With nine late-stage programs, Moderna continues to advance its pipeline and expects numerous product milestones in 2024 across its vaccines and therapeutics portfolio.