Moderna Therapeutics Inc (NASDAQ:MRNA) shares shot up more than 13% to $113.72 Tuesday after the vaccine maker's CEO confirmed the company's goal of achieving sales growth in 2025.
Brokerage firm Oppenheimer also upgraded Moderna stock to 'Outperform', noting the company could have five products on the market by 2026.
"With the expected launch of our RSV (respiratory syncytial virus) 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," CEO Stéphane Bancel wrote in a letter to shareholders.
Bancel reiterated the company's goal to break even in 2026 as revenue grows and research and development costs for late-stage candidates recede, Reuters reported.
Shares of Moderna have fallen more than 36% over the past year as the company experienced weak sales of its COVID-19 vaccine.
Its stock price, though, has risen fivefold since 2020.