Moderna, Inc. announced changes to its operating model to bring focus to its short- and long-term business goals. The Company is focused on driving continued sales of its COVID-19 vaccine and launching its RSV vaccine in 2024, while also preparing to launch multiple products per year from 2025 forward. The Company has decided to increase executive focus on driving sales of Spikevax and the expected launch of its RSV vaccine next year.

To do this, Stephane Bancel, Chief Executive Officer of Moderna, will assume responsibility for sales and marketing in 2024, working directly with the commercial team. To ensure the Company also maintains momentum on its launches beyond 2024, Stephen Hoge, M.D., President of Moderna, will assume responsibility for pipeline commercial strategy and for Medical Affairs. As part of these changes, Arpa Garay, previously Chief Commercial Officer, is expected to leave the Company in the coming months and will remain an advisor during the transition.

On December 12, 2023, Moderna, Inc. (the ?Company?) announced that following a restructuring of the Company?s commercial organization and reporting lines, Arpa Garay, the Company?s Chief Commercial Officer, will be departing the Company, and that effective as of December 8, 2023, Ms. Garay will no longer serve in that role or as an executive officer of the Company. As announced on December 12, 2023, following the restructuring, the Company?s commercial organization will be overseen by the Company?s Chief Executive Officer, Stéphane Bancel, and the Company?s President, Stephen Hoge. Ms. Garay has been asked to remain on as an employee of the Company through June 2024, and to serve in an advisory capacity to Mr. Bancel and Dr. Hoge to assist with the transition.