Moderna up after forecasting up to $15B in sales by 2027 from respiratory drugs

Shares of Moderna are up $6.65, or 6%, to $111.89 after the company earlier announced business and clinical updates across its franchises and introduced several new development programs at the company’s annual R&D Day. “Our mRNA platform is working. With today’s positive Phase 3 flu results, along with previous results in COVID and RSV, we are now three for three on advancing respiratory disease programs to positive Phase 3 data. In the near term, we look forward to product launches in our oncology, latent, rare and infectious disease franchises.In the fourth quarter of this year, we also expect to provide data on our next-generation COVID and flu combination, mRNA-1083, and additional efficacy analysis on our Phase 2 INT study. With significant momentum across the business and our pipeline, we are excited by the near future and focused on execution,” said Stephane Bancel, CEO of Moderna. “The respiratory franchise, now a seasonal business with an annual recurring revenue stream, is targeting an approximately $30B annual market, comprised of an approximately $15B COVID-19 market, a $10B RSV market, and a $6B flu market, with the potential for growth with more effective vaccines. Respiratory products sales in 2027 are expected to be in the range of $8B to $15B, depending on vaccination rates, efficacy and company market share, as previously communicated at Vaccines Day,” Moderna stated.