Moderna said on Thursday it secured a five-year loan of $1.5 billion from Ares Management, as it targets up to 10 per cent revenue growth next year, reports Reuters.
The vaccine maker, which is expected to unveil strategy updates to analysts later on Thursday, said it will draw $600 million upfront, and will have optional access to $400 million through November 2027 and $500 million through November 2028.
Moderna President Stephen Hoge told Reuters the loan would give the company flexibility to fund business development or manage risk. "As we see opportunities to invest, whether in the company or other programs, we want to be able to do that without any questions," he said. Moderna has been struggling financially since its pandemic windfall, with revenue plunging from $18.4 billion in 2022 to a fraction of that as COVID-19 vaccine demand collapsed, forcing deep cost cuts and pipeline reprioritization. After dropping its cytomegalovirus vaccine in October, Moderna said it has also shelved programs for herpes simplex, Varicella-Zoster and glycogen storage disease.
The company, which expects $1.6 billion to $2 billion in sales for 2025, had been banking on revenue from newer vaccines using mRNA technology, including mRESVIA for RSV and an experimental COVID/flu combination shot.
Moderna takes $1.5b loan, expects 10pc revenue growth next year
FE Team | Published: November 21, 2025 00:59:35
Moderna takes $1.5b loan, expects 10pc revenue growth next year
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