Thursday, Moderna Inc (NASDAQ:MRNA) unveiled key updates at its annual R&D Day by reducing annual R&D spending by $1.1 billion by 2027, enabling a focus on ten prioritized products. The company expects R&D expenses to fall from $4.8 billion in 2024E to $3.6 billion—$3.8 billion in 2027. The strategy, expanding its portfolio into oncology and rare diseases, positions Moderna to deliver ten product approvals within the next three years. Oppenheimer downgraded Moderna stock from Outperform to Perform and removed the price target. Oppenheimer analyst writes that with a restructured R&D budget, Mod…
