Moderna's revenue 2016-2022

Moderna generated total revenues of some 19.3 billion U.S. dollars in 2022, a massive increase compared to only two years before when it was only 803 million. In 2020, the biotech company received income from product sales for the first time. This was, of course, because of the company's breakthrough with its COVID-19 vaccine.

Working hard to produce the first 'blockbuster'

Moderna is a clinical stage biotech company that is pioneering messenger RNA (mRNA) therapeutics and vaccines. Beside its COVID-19 vaccine, the company is yet to generate revenues from the sale of potential drugs, and this will remain the same until it successfully completes clinical development and obtains regulatory approval for one of its medicines. Like many other biotech companies, Moderna invests significant amounts of money into research and development projects, and annual costs continue to grow.

One of the very first COVID-19 vaccines approved

Moderna, in partnership with the National Institutes of Health (NIH) and the Coalition for Epidemic Preparedness Innovations (CEPI), was one of the very first to develop a vaccine to fight COVID-19. The vaccine codenamed mRNA-1273 – designed and manufactured in only 25 days – prevents future infections of the novel coronavirus that has caused the pandemic. The Moderna vaccine successfully went through all necessaryclinical phases, and was the second vaccine - after the Biontech/Pfizer vaccine - to be approved for widely usage already in late 2020.