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product pipelineCNBC
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77% Informative
Moderna plans to cut $1.1 billion in expenses by 2027 as it charts a path forward after the rapid decline of its Covid business.
The biotech company said it expects 10 new product approvals through 2027 .
But Moderna is also deprioritizing certain parts of its pipeline, which involves pausing work on some products and scrapping others.
Moderna is also partnering with Merck to develop a personalized cancer vaccine.
The companies are studying the shot in a phase three trial in patients with a deadly skin cancer.
Moderna said the FDA has "not been supportive" of a so-called accelerated approval of the shot.
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