Moderna's cash hits $15B, new vaccine details released

Moderna is developing a single-dose booster vaccine for both COVID-19 and the flu as well as 4 vaccine candidates to address variants of concern

Moderna revealed during its fifth annual R&D day on Thursday that it now has approximately $15 billion in cash as of the end of August.

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The disclosure came as the company has now completed the rolling submission process for a biologics license application (BLA) for its COVID-19 vaccine, mRNA-1273, in the United States. 

Moderna has started submitting data for the evaluation of a third booster dose at the 50 µg dose level to both the Food and Drug Administration and the European Medicines Agency. 

The company noted on Thursday that "robust antibody responses" have been observed in a phase 2 study of the booster dose. The FDA is set to hold a meeting next week with outside advisors on COVID booster shots. 

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Moderna unveiled plans for a slew of new vaccine candidates, including mRNA-1283, a next generation COVID-19 vaccine that encodes portions of the SARS-CoV-2 spike protein that are "critical for neutralization." mRNA-1283 is being developed as a potential refrigerator stable mRNA vaccine that will allow for easier distribution and administration by healthcare providers.

The company says it is also addressing COVID-19 variants of concern with new vaccine candidates, including three that have already been administered in a Phase 2/3 clinical trial and a fourth candidate that will start with a clinical cohort in the coming weeks. 

In addition, Moderna is taking the first step in its novel respiratory vaccine program with the development of mRNA-1073, a single-dose booster vaccine for both COVID-19 and the flu.

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Moderna has a total of 37 programs in development across 34 development candidates, including 22 in ongoing clinical studies. 

"I am proud of the progress that the Moderna team has made in advancing our best-in-class mRNA pipeline while addressing the global COVID-19 pandemic," Moderna CEO Stéphane Bancel said in a statement. "We believe our mRNA platform can solve the world’s greatest health challenges, from diseases impacting millions, to ultra-rare diseases impacting dozens, to medicines personalized down to the individual level."

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MRNA MODERNA, INC. 434.04 +10.71 +2.53%

Shares of Moderna are up more than 5% in Thursday's trading session following the announcements.