HighGravityDataModerna — May 1, 2025 release
Fiscal 2025 first-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001682852-25-000031
Showing in the filing
GAAP operating cost estimate
“$4.7 to $5.0 billion”
Period
FY2027
Measure
Company-defined measure
Source
Prose
All guidance in this release · 15
Year-end cash and investments for 2025 for FY2025
“approximately $6 billion”
Reduction in estimated GAAP operating costs for FY2027
“$1.4 to $1.7 billion”
Products advancing toward approval
“up to 10”
Expected revenue for FY2025
“$1.5 to $2.5 billion”
Revenue for FY2025
“$1.5 to $2.5 billion”
First half 2025 revenue for H1 FY2025
“approximately $0.2 billion”
Revenue for H1 FY2025
“approximately $0.2 billion”
Cost of sales for FY2025
“approximately $1.2 billion”
Research and development expenses for FY2025
“approximately $4.1 billion”
Selling, general and administrative expenses for FY2025
“approximately $1.1 billion”
Full-year tax expense for FY2025
“negligible”
Income Taxes for FY2025
“negligible”
Capital expenditures for FY2025
“approximately $0.4 billion”
Estimated GAAP operating costs for FY2026
“$5.4 to $5.7 billion”
GAAP operating cost estimate for FY2027
“$4.7 to $5.0 billion”
Exhibit 99.1 · the passage around this item
… earlier in the release
2026 and 2027 Financial Updates Moderna is expanding its cost efficiency and prioritization programs and expects estimated GAAP operating costs of $5.4 to $5.7 billion in 2026, a reduction from the Company’s previous estimate of $5.9 billion. The Company is announcing a new 2027 GAAP operating cost estimate of $4.7 to $5.0 billion, resulting in a reduction of $1.4 to $1.7 billion in estimated operating costs by 2027, compared to its 2025 estimate. Recent Progress and Upcoming Late-Stage Pipeline Milestones The Company continues to advance its research and development portfolio. Recently, Moderna updated its prioritized pipeline by adding its Phase 2 oncology candidate, checkpoint (mRNA-4359) therapy, and deprioritizing its flu/COVID combination vaccine (mRNA-1083) for adults aged 18-49. Respiratory vaccines: • Next-generation COVID-19 vaccine : Moderna shared pivotal safety, immunogenicity and relative vaccine efficacy data for its next-generation COVID-19 vaccine (mRNA-1283) at the Advisory Committee on Immunization Practices meeting in April 2025. The Company filed for regulatory approval of mRNA-1283 with the FDA using a priority review voucher in 2024. The FDA has assigned a Prescription Drug User Fee Act (PDUFA) goal date of May 31, 2025. • Respiratory syncytial virus (RSV) vaccine : The Company recently shared positive Phase 3 data for its RSV vaccine (mRNA-1345) in high-risk adults aged 18-59 at the ESCMID 2025 Global Congress. Moderna filed for regulatory approval of mRNA-1345 for high-risk adults w
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other guidance in this release
Text is the filed exhibit, verbatim.