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CAMBRIDGE, MA - Moderna, Inc. (NASDAQ:MRNA), currently trading near its 52-week low of $29.25 and down over 70% in the past year, announced today that the Australian Therapeutic Goods Administration (TGA) has approved its mRNA-based vaccine, mRESVIA® (mRNA-1345), for preventing lower respiratory tract disease caused by the respiratory syncytial virus (RSV) in adults aged 60 years and over. This marks the first mRNA vaccine authorized in Australia for a condition other than COVID-19. According to InvestingPro analysis, the company maintains a strong liquidity position with a current ratio of 3.67, indicating robust short-term financial health.
The decision by the TGA was influenced by the positive outcomes from the Phase 3 clinical trial, ConquerRSV, which involved around 37,000 adults aged 60 and above across 22 countries. The vaccine targets the F glycoprotein of the RSV, which is essential for the virus’s ability to infect host cells. While Moderna’s pipeline expansion continues, InvestingPro data shows the company faces near-term challenges with analysts projecting a sales decline this year and negative earnings of $10.33 per share for FY2025.
RSV poses a significant health risk, especially to older adults. During the 2024 Australian winter, RSV cases in adults aged 65 and older were close to two-thirds the number of influenza cases in the same demographic. Moreover, 90% of RSV-related deaths nationally were reported among those aged 60 and above.
Moderna’s CEO, Stéphane Bancel, expressed the company’s commitment to protecting older adults from RSV-related diseases and their intention to supply the vaccine from their Melbourne facility.
Beyond Australia, Moderna has secured marketing authorizations for its RSV vaccine in several other regions, including the United States, European Union, Canada, Qatar, United Arab Emirates, Taiwan, and the United Kingdom, with applications pending in other global markets.
The company, a pioneer in mRNA medicine, has been at the forefront of developing vaccines and therapeutics for various diseases, including its widely used COVID-19 vaccine.
The information for this article is based on a press release statement from Moderna, Inc. It is important to note that forward-looking statements in the press release are not guarantees of future performance and are subject to various risks and uncertainties.
In other recent news, Moderna Inc. announced that it anticipates releasing a personalized cancer vaccine in collaboration with Merck & Co. by 2027. The company is currently conducting a late-stage trial for a skin cancer vaccine, and Moderna’s President, Stephen Hoge, expressed optimism about its potential revenue. Meanwhile, a German court ruled that Pfizer Inc. and its partner BioNTech infringed on a COVID-19 vaccine patent held by Moderna. The court has ordered Pfizer and BioNTech to disclose profits from the use of the patented technology and to compensate Moderna, though the decision can be appealed.
In another development, Bernstein SocGen Group adjusted Moderna’s stock price target to $39 from $45, maintaining a Market Perform rating. The firm cited concerns about policy uncertainties and financial constraints but left revenue projections unchanged. Moderna’s revenue is expected to grow from $1.7 billion in 2025 to $9.1 billion by 2034. Additionally, the U.S. decision to cut funding for Gavi, the Vaccine Alliance, could impact future vaccine demand for companies like Moderna, Novavax, and Pfizer, particularly in developing countries.
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