Moderna surges after CEO says sales growth expected in 2025

Moderna shares rose more than 11% on Tuesday after the vaccine maker's CEO Stephane Bancel said in a shareholder letter that the company expects its sales to grow in 2025.

"With the expected launch of our RSV vaccine candidate in 2024, and potential launch of our flu/COVID combination vaccine as early as 2025, we believe Moderna will experience sales growth in 2025," said Bancel.

Moderna had said in November it would only hit the low end of its sales forecast of $6 billion to $8 billion for 2023, reflecting weaker demand for COVID-19 vaccines.

The stock, which fell nearly 45% in 2023, rose as much as 12.2% to $111.60 in early trading.

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