Moderna 2023 Shareholder Letter
Forward-Looking Statements Disclaimer
This letter contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including regarding: the potential of Moderna’s mRNA platform; Moderna’s ability to bring medicines to market; Moderna’s expectation that its COVID-19 franchise will be profitable for 2024 and beyond; Moderna’s ability to compete in the commercial market and future market share; the potential 2024 launch of Moderna’s RSV vaccine for adults with a potentially best-in-class profile; the safety and tolerability profile of Moderna’s mRNA vaccine technology; Moderna’s intent to launch up to 15 products in five years; the potential for approval of Moderna’s seasonal flu vaccine candidate and the timing for that approval; the anticipated benefits of combination vaccines, and Moderna’s intent to have a flu/COVID combination vaccine available as early as 2025; the clinical benefit observed with Moderna’s mRNA cancer therapy; Moderna’s construction of a factory to support INT; the promise of Moderna’s rare disease franchise; the expected read out in 2024 for Moderna’s mRNA therapy for cystic fibrosis and potential readout for CMV; Moderna’s ability to scale its manufacturing and business overall using AI; Moderna’s expectation to be in sales growth by 2025 and to break even in 2026; Moderna’s expectation to double the number of programs in Phase 3 by 2025; and the timing and scale for Moderna’s planned investments in research and development. The forward-looking statements in this letter are neither promises nor guarantees, and you should not place undue reliance on these forward-looking statements because they involve known and unknown risks, uncertainties, and other factors, many of which are beyond Moderna’s control and which could cause actual results to differ materially from those expressed or implied by these forward-looking statements. These risks, uncertainties, and other factors include those other risks and uncertainties described under the heading “Risk Factors” in Moderna’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, filed with the U.S. Securities and Exchange Commission (SEC), and in subsequent filings made by Moderna with the SEC, which are available on the SEC’s website at www.sec.gov. Except as required by law, Moderna disclaims any intention or responsibility for updating or revising any forward-looking statements contained in this letter in the event of new information, future developments or otherwise. These forward-looking statements are based on Moderna’s current expectations and speak only as of the date of this letter.