Moderna sticks to 10% revenue growth goal despite Phase 3 norovirus vaccine miss

Moderna said it will continue to aim for up to 10% revenue growth this year, even though its experimental norovirus vaccine did not achieve statistical significance in a Phase 3 interim analysis.

The candidate, mRNA-1403, is being studied in the NOVA 301 trial that has enrolled about 38,000 participants. An interim look after the second season showed the primary endpoint case count was lower than expected, and the study remains blinded while a third winter season is added.

Company executives noted that the setback is being offset by strong sales of its non-U.S. vaccine portfolio and a unanimous FDA advisory committee endorsement for its flu vaccine, mFLUSIVA, giving confidence in meeting the growth target.