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That's why Wall Street analysts are expecting, on average, that it'll bring in only $7.7 billion in revenue for 2023, with 2024 seeing a further erosion to reach "only" $6.5 billion - and management isn't signaling anything much sunnier.Īt the same time, it's also hard to deny the biotech's gargantuan pipeline of vaccines for both preventing infectious diseases and for treating illnesses like cancers. So despite its stellar research and development (R&D) program and unusually efficient manufacturing and global distribution operations, there's no way Moderna can continue to grow by sales of its vaccine alone. The trouble is that coronavirus vaccines are no longer selling like hotcakes as there's an ample supply of shots for those who want them in most markets.

In 2022 alone, sales of its jab raked in $18.8 billion in sales, which resulted in more than $8 billion in net income for the year. In 2020, it developed and commercialized its first product, a vaccine against the coronavirus, which it then marketed worldwide. Wood understands that Moderna will continue to be one of the most important biotechs in the industry's history.