Moderna, Inc. (NASDAQ:MRNA) Q1 2024 Earnings Call Transcript

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Stéphane Bancel: Sure. So the internal markets, obviously, very important, the U.S. is very important, the U.S. — international also super important. As we shared before, we found in all the major geographies already. Of course, EU, UK, Canada, Australia, some countries in Asia, some countries in the Middle East. RSV is well known by public health leaders like it is in the U.S. So I think that there’s a very strong desire, again, to protect the elderly with what we are doing here in terms of flu COVID RSV, that’s becoming very kind of a standard that probably [indiscernible] across at least the developed world. But even in developing countries, there’s more and more interest as you see aging population everywhere. So it’s not only the U.S. approval that we expect coming soon as we have several geographies that would start being approved.

Operator: Thank you. Our next question comes from Simon Baker with Redburn Atlantic. Your line is open.

Simon Baker: Thank you for taking my questions. Two quick ones, if I may. Just in terms of the timing on the CMV interim data. You said this quarter, it could be as early as the end of 2024. That sounds slightly later than you had previously said. I just wondered if that’s me over-interpreting the semantics or whether there is a slight delay there? And then the second question is on the HSV vaccine. Previous quarters, we talked about the EBV vaccine and the potential utility in multiple sclerosis. I was just wondering what your thoughts were about HSV and it’s the hypothesis that implicates its role in Alzheimer’s disease? Thanks so much.

Stephen Hoge: Thank you for both questions. So first on the clarification. There’s no change to our expectations on when the CMV readout will happen. I think we previously tried to be careful in saying that we expect it to happen this year. And so obviously, by the end of this year, it is meant to say the same thing, but there’s no change in our expectations at this point. On the HSV Alzheimer’s hypothesis, it’s a very interesting — there’s a lot of neuro-inflammatory questions that go with the Herpes Simplex virus infection across a range of different mutations, Alzheimer’s one of them. At this point, the studies that we expect to move forward with HSV will be for seropositive to improve outcomes. So shedding based for instance, or lesion based.

And then eventually, we will want to consider whether we want to go at prevention of infection, which is obviously a different standard of different indication. That might be more relevant for them, how you think about some of the neuro-inflammatory or long-term supply. I think you asked my opinion on it, I think it’s incredibly interesting and exciting. I do think it’s early for us to start drawing connection from a vaccine perspective in terms of our potential impact for it. I hope over time, there is an opportunity to intervene and things like that. Obviously, in the EBV vaccine with multiple sclerosis, that science has firmed up to the point where there’s reasonably high conviction that there’s a potential for benefit there. We have to go prove that.

But at this point, it’s still earlier days, I think, with HSV and Alzheimer’s.

Simon Baker: Great, thanks so much.

Operator: Our next question comes from Edward Tenthoff with Piper Sandler. Your line is open.

Edward Tenthoff: Great, thank you very much for taking the questions. And congrats on everything. Actually, most of my questions have been answered. But I wanted to ask with respect to the cancer efforts, are you able to break out what the actual R&D cost is for that program and that’s still a cause some profit share with Merck? And how many indications do you guys ultimately plan on pursuing? Thank you so much.

Stephen Hoge: Maybe I’ll take the first one, Ed. So we obviously know what we’re spending, but at this point, we are not prepared to disclose. So maybe someday, but not at this time. [Multiple Speakers]

Jamey Mock: Yes. On the expansion indication, look, it is a joint decision, our partnership with Merck has been really strong. We’ve been building this out. We do like to review those strategically and then bring them forward once we’ve started them. And so I don’t want to get ahead of that because those are our private strategic competition with Merck. But we are not done yet. We will keep adding in the years ahead.

Edward Tenthoff: Very exciting. Look forward to seeing you in Chicago.

Operator: Ladies and gentlemen, this does conclude the Q&A portion of today’s conference. I’d like to turn the call back over to Stéphane for any closing remarks.

Stéphane Bancel: Well, thank you, everybody, for joining in today for a great session. We look forward to seeing you at the latest ASCO. Have a great day.

Operator: Ladies and gentlemen, this does conclude today’s presentation. You may now disconnect, and have a wonderful day.

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