On this page of StockholderLetter.com we present the latest annual shareholder letter from Moderna, Inc. — ticker symbol MRNA. Reading current and past MRNA letters to shareholders can bring important insights into the investment thesis.

 •  3/15/2024 Letter Continued (Full PDF)
 •  2/27/2023 MRNA Stockholder Letter
 •  More "Biotechnology" Category Stockholder Letters
 •  MRNA Benford's Law Stock Score = 99

MRNA Shareholder/Stockholder Letter Transcript:

moderna
annual
annual
report
2023

moderna   by
the numbers
numbers
In 2023,
we impacted more than
100 million
million
people.
people.

moderna by the numbers
Delivering commercial impact
$6.7B
$6.7B
48% $ 1 3
$13.3B
.3B
in net product
sales in 2023
U.S. COVID retail i n in cash, cash
market share e q u i v equivalents
alents
in fall 2023
a n dand investments as
of December 31, 2023
Advancing our pipeline
4
45
therapeutic
areas
development
l a t elate-stage
-stage
m s
programs p r o g r aprograms
9
9
Creating a unique and diverse organization
5,600 4 949%
% 3 939%
employees w o m women
in
e n in
o
o u r our workforce a
in 19
19 markets
f of executives
executives
r eare women
Celebrating our culture
nd
2
2nd
9 N o . No.
1 1
consecutive year
year
of equal pay for
for
equal work study
showing no significant
significant
differences in pay
years in a row
as a Science
Science
top employer
employer
ranked large
large
company in
BioSpace Best
Places
Places to Work
3
moderna 2023
2023 annual report I| 003

Table of contents
0 5 A
05
A letter from our CEO
28
Digitizing everywhere
16
16
29
Responsibility
32
Leadership
18
18
Advancing mRNA
respiratory vaccines
AA new frontier
in cancer care
20
Pipeline
2 0 Pipeline
2 6 Building
26
Building our team
o d e r n a 2023
04 m
| moderna
2023 annual report
33 Awards and recognition
34 Financials

A letter from our CEO
CEO
January
January 2,
2, 2024
2024
Cambridge, Mass., U.S.A.
U.S.A.

As we reflect on the past
year, our commitment to
leveraging mRNA to deliver
transformative medicines
for patients has never
been stronger."
stronger.    
St  phane
Stephane Bancel,
Bancel,
Chief Executive Officer
Dear fellow shareholders,
shareholders,
Our mRNA platform is working.
working.
Today, we are seeing the high-case scenario
unfold.
from our 2018 five-year, long-range plan unfold.
We have demonstrated the potential for clinical
clinical
benefit in multiple infectious disease vaccines,
vaccines,
in skin cancer and in three different rare genetic
diseases. Based on these clinical successes, we
have advanced a broad and diverse pipeline.
pipeline.
We advanced nine programs into late-stage
development, including one approved, one
filed for approval, and three more that have
completed Phase 3 enrollment. We are many
steps closer to reaching millions more people
with unmet medical needs.
Through more than a decade of progress
and investment in science, Moderna has led
in establishing the field of mRNA
mRNA medicine.
medicine.
The team has built a remarkable platform to
scale Moderna at a pace not seen before in
our industry. Now, it is up to us to bring these
mRNA medicines to market for patients, and
consequently to drive value for our shareholders.
shareholders.
As we reflect on the past year, our commitment
to deliver
deliver transformative
to leveraging mRNA to
transformative
medicines for patients has never been stronger.
We have the platform, technology, resources
and the team to establish a new era of medicine.
medicine.
A Year of Transition
Transition
A
In 2023, SARS-CoV-2 continued to evolve.
evolve.
The virus that causes COVID-19 is clearly here
to stay   just like influenza. Our business has
also adapted to a more predictable, seasonal
endemic market.
market.
5
moderna 2023
2023 annual report I| 005



 3/15/2024 Letter Continued (Full PDF)