Moderna reports commercial organization changes to prepare for product launches

Moderna announced changes to its operating model to bring focus to its short- and long-term business goals. The Company is focused on driving continued sales of its COVID-19 vaccine and launching its RSV vaccine in 2024, while also preparing to launch multiple products per year from 2025 forward. The Company has decided to increase executive focus on driving sales of Spikevax and the expected launch of its RSV vaccine next year. To do this, Stephane Bancel, Chief Executive Officer of Moderna, will assume responsibility for sales and marketing in 2024, working directly with the commercial team. To ensure the Company also maintains momentum on its launches beyond 2024, Stephen Hoge, M.D., President of Moderna, will assume responsibility for pipeline commercial strategy and for Medical Affairs. As part of these changes, Arpa Garay, previously Chief Commercial Officer, is expected to leave the Company in the coming months and will remain an advisor during the transition.