Moderna backs FY25 revenue view $1.5B-$2.5B, consensus $2.22B

Moderna (MRNA) expects revenue of approximately $0.2B in the first half of the year, reflecting the seasonality of its respiratory business. Capital expenditures for 2025 are expected to be approximately $0.4B. Cost of sales for 2025 is expected to be approximately $1.2B. Year-end cash and investments for 2025 are projected to be approximately $6B. The company remains focused on a prioritized research and development portfolio, delivering up to 10 product approvals through 2027.