Moderna $MRNA ( ▲ 17.02% ) is catching a much-needed win.
Shares surged more than 15% Tuesday after the company said its COVID-19 business performed better than expected last year and that it cut costs further, helping boost confidence in its 2025 outlook.
COVID Business Holds Up Better Than Feared
Moderna has been bleeding cash since 2023 as demand for COVID vaccines normalized, so any sign that the decline is slowing is a big deal for investors.
The company said its COVID-19 business did better than expected in 2024, helping it project stronger 2025 sales than the Street was expecting.
Cost Cuts + A Clear Break-Even Target
Alongside the revenue outlook, Moderna emphasized that it is continuing to cut costs.
It also reiterated that it expects to break even in 2028, giving investors a timeline for when the company believes it can stop burning money and stabilize financially.