Moderna's Chief Medical Officer Resigns, New R&D Direction Announced
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: seekingalpha
- Executive Change: Moderna announced that Chief Medical Officer Jacqueline Miller will resign effective March 2, just over a year into her role, indicating significant shifts in the company's leadership that may impact its strategic direction.
- New Appointment: David Berman will take over as Chief Development Officer on the same date, previously serving as R&D head at Immunocore, and is expected to drive Moderna's pivot towards new mRNA-based medications like personalized cancer therapies in response to declining demand for COVID-19 vaccines.
- Transition Support: Although Miller is stepping down from her role, she will continue to support the company as a consultant, reflecting the company's desire to maintain continuity and stability during this leadership transition.
- R&D Background: Berman brings over two decades of experience in immunotherapy, having worked on multiple clinical-stage oncology biologics, suggesting that his extensive background could positively influence Moderna's new drug development efforts.
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Analyst Views on MRNA
Wall Street analysts forecast MRNA stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for MRNA is 29.36 USD with a low forecast of 17.00 USD and a high forecast of 63.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
19 Analyst Rating
1 Buy
14 Hold
4 Sell
Hold
Current: 46.860
Low
17.00
Averages
29.36
High
63.00
Current: 46.860
Low
17.00
Averages
29.36
High
63.00
About MRNA
Moderna, Inc. is a biotechnology company. The Company is advancing a new class of medicines made of messenger ribonucleic acid (mRNA). It is developing therapeutics and vaccines for infectious diseases, immuno-oncology, rare diseases and autoimmune diseases. mRNA medicines are designed to direct the body’s cells to produce intracellular, membrane or secreted proteins that have a therapeutic or preventive benefit with the potential to address a spectrum of diseases. The Company’s diverse development pipeline consists of 44 therapeutic and vaccine programs, 11 of which are in late-stage development. Its commercial products include Spikevax (its COVID vaccine) and mRESVIA (its respiratory syncytial virus (RSV) vaccine). Additionally, it has achieved four positive Phase III data readouts for its COVID vaccine (mRNA-1283), its RSV vaccine for high-risk adults aged 18 to 59 (mRNA-1345), its seasonal flu+COVID vaccine (mRNA-1083), and its seasonal flu vaccine (mRNA-1010).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Moderna's Chief Medical Officer Resigns, New R&D Direction Announced
- Executive Change: Moderna announced that Chief Medical Officer Jacqueline Miller will resign effective March 2, just over a year into her role, indicating significant shifts in the company's leadership that may impact its strategic direction.
- New Appointment: David Berman will take over as Chief Development Officer on the same date, previously serving as R&D head at Immunocore, and is expected to drive Moderna's pivot towards new mRNA-based medications like personalized cancer therapies in response to declining demand for COVID-19 vaccines.
- Transition Support: Although Miller is stepping down from her role, she will continue to support the company as a consultant, reflecting the company's desire to maintain continuity and stability during this leadership transition.
- R&D Background: Berman brings over two decades of experience in immunotherapy, having worked on multiple clinical-stage oncology biologics, suggesting that his extensive background could positively influence Moderna's new drug development efforts.
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Moderna Partners with Recordati to Advance mRNA-3927 Development
- Strategic Collaboration: Moderna has entered into a strategic partnership with Italy's Recordati to advance the clinical development of its propionic acidemia treatment, mRNA-3927, which is expected to accelerate the global commercialization of the drug.
- Financial Support: Under the agreement, Moderna will receive an upfront payment of $50 million and up to $110 million in development and regulatory milestone payments, significantly enhancing its liquidity and supporting further R&D efforts.
- Clinical Trial Progress: mRNA-3927 is currently undergoing a registrational study that has reached its target enrollment, with pivotal data expected in 2026, laying the groundwork for potential market approval and addressing unmet medical needs.
- Market Potential: Propionic acidemia is a rare and serious inherited metabolic disorder affecting approximately 1 in 100,000 to 150,000 individuals globally, and Moderna's innovative therapeutic approach could fill a significant treatment gap, enhancing the company's competitiveness in the rare disease market.
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