Moderna At Annual J.P. Morgan Healthcare Conference, Inks Oncology Pact With Carisma Therapeutics

By Vandana Singh

At the 40th J.P. Morgan Healthcare Conference, Moderna Inc (NASDAQ:MRNA) said it expects FY21 product sales of approximately $17.5 billion.

  • In the Q3 earnings release, the company expected product sales of $15 billion - $18 billion.
  • See the related company presentation here.
  • In 2021, the company shipped approximately 807 million doses of the Moderna COVID-19 vaccine. About 25% of all doses delivered in 2021 went to low- and middle-income countries through direct sales by Moderna and donations from high-income countries. 
  • Moderna has signed 2022 Advanced Purchase Agreements for approximately $18.5 billion (up from $17 billion announced in November 2021) and approximately $3.5 billion in options, including any potential updated COVID-19 vaccine booster candidates. The company is currently in discussions for additional 2022 COVID-19 vaccine contracts.
  • Related: Moderna's Authorized COVID-19 Booster Increases Omicron Neutralizing Antibody Levels 37-Fold.
  • Additionally, Moderna and Carisma Therapeutics Inc announced a strategic collaboration agreement to discover, develop and commercialize in vivo engineered chimeric antigen receptor monocyte (CAR-M) therapeutics for cancer.
  • Carisma will receive a $45 million upfront cash payment and an investment by Moderna in the form of a $35 million convertible note. Carisma will receive research funding and will receive milestone payments, plus royalties. 
  • Carisma will be responsible for discovering and optimizing development candidates, while Moderna will lead therapeutics' clinical development and commercialization. 
  • Moderna has the option to nominate up to twelve targets under the collaboration.
  • Price Action: MRNA shares are up 11.8% at $239.10 during the market session on the last check Monday.

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