Moderna disclosed product sales of $6.7 billion in 2023, exceeding their initial forecast of at least $6 billion but indicating a decline of 63.6% compared to 2022.
Moderna deliberately revealed that its Covid-19 vaccine accounted for $6.1 billion in total sales. The remaining $600 million was classified as deferred revenue from supply agreements with GAVI, providing services to developing and middle-income nations.
Financial Stability Is Strong For Moderna
The financial stability of this company is clear as cash, cash equivalents, and investments exceeding $13 billion, which rose from $12.8 billion as of September 30, 2023.
Regarding market performance, their COVID-19 vaccine captured 48% of the U.S. market share during the winter of 2022, up by 37% from the previous year. This represents substantial commercial expansion compared to rival Pfizer, notwithstanding the market contraction.
Moderna Revenue Could Decline In 2024
Moderna foresees a decline in revenue to $4 billion in 2024, followed by a resumption of sales growth in 2025, with the company setting its sights on achieving break-even in 2026.
The organization continues to anticipate regulatory approvals for its vaccine targeting respiratory syncytial virus in senior adults during the initial six months of the current year. Comparable vaccines from GSK and Pfizer will compete with this one, with Moderna emphasizing its convenience for healthcare providers.
Data releases from a Phase 3 study examining a refrigerator-stable COVID-19 vaccine and a dual-protection vaccine against influenza and COVID-19 are also scheduled for the initial six months of the year.
Moderna Stock (MRNA) Daily Chart
In the daily chart of MRNA stock price, a stable market is visible above the dynamic 20-day EMA, suggesting a potential upward continuation. Moreover, the long-term outlook shows upward traction, supported by a descending channel breakout in the weekly chart.
In technical indicators, the ADX shows a downside rebound but remains above the 20.00 line. Moreover, the 14-day RSI moved to the overbought 70.00 line, suggesting an extremely bullish continuation.
Based on the daily outlook of MRNA stock, the gap with the 20 DMA and an overbought RSI could indicate a downside correction in the coming days. However, the 94.99 event level would be the key price to look at, as a rebound is possible as long as the price trades above this line.
On the bearish side, a downside continuation with a daily candle below the 94.00 level could indicate a bearish continuation toward the 75.00 level.
