Moderna eyes ‘superjab’ as it pivots from pandemic to protect against all main respiratory viruses

The US mRNA vaccine pioneer is out to show it’s not a Covid one-trick pony, extending its technology to flu and RSV shots and potentially a superjab.

From left: Moderna executives: Chantal Friebertshaeuse, Michael Azrak and Arpa Garay at the company’s new factory under construction in Melbourne.

Moderna’s chief commercial officer Arpa Garay says the company’s near-term success lies in manufacturing vaccines for respiratory viruses, with Covid-19, flu and RSV forming a golden trifecta and potentially a superjab.

The Covid pandemic catapulted Moderna and its mRNA vaccine technology into the mainstream, but as the health crisis subsides, so has its revenue. It is estimating at least $5bn in Covid vaccine sales this year versus $18.4bn in 2022 as governments and health agencies slash orders.

This has pondered many to question what is next for the company and Ms Garay is charged with delivering a commercial answer to that question.

Despite Covid vaccine sales plummeting, she says they remain a vital part of Moderna.

The company has signed a 10-year partnership with the Australian government to produce mRNA vaccines in Melbourne to prepare for the next pandemic (whatever its pathogen may be).

“While the pandemic is over, I will say Covid continues to be a big public health threat,” said Ms Garay, who is visiting Australia from her base in Boston.

“For example, just this year in the US, Covid is the fourth-leading cause of death – and we haven’t even hit the winter season yet – after heart disease, cancer and accidents. It is still very deadly and causing a lot of hospitalisations. So one of my priorities is to continue to work with governments, stakeholders and also consumer education … to help people understand that while the pandemic is over, Covid is still here.”

There is a lot at stake. Moderna’s shares, listed on the Nasdaq, have dived from a peak of almost $US450 in September 2021 to $US126.43, giving it a market value of $US48.2bn.

Pfizer, which also produces an mRNA Covid-19 vaccine, has also suffered heavy losses, plunging from almost $US60 a share in late 2021 to $US37.40. This is despite mRNA, which instructs the body’s cells to produce a protein to create an immune response, appearing like a miracle technology that can be easily adjusted to fight any disease, even cancer.

Moderna chief commercial officer Arpa Garay.

The reality is far more complex, like most medical breakthroughs. Take Moderna’s flu vaccine for example. While seasonal flu jabs have been part of our lives for decades, phase 3 clinical trials for Moderna’s mRNA version delivered mixed results.

While its jab against A strains of the flu generated a strong immune response, it failed to show its shot for B strains was at least as effective as existing approved vaccines. Further, 70 per cent of trial recipients reported adverse reactions – most of which were mild – versus 48 per cent dosed with a comparator vaccine. This differential may seem too great for most companies, but for Moderna its mRNA technology means it can modify its jab more quickly than conventional shots.

This is going to prove vital for the company’s ongoing success. A study it commissioned revealed that catching the flu had overtaken Covid as the top health concern among Australians, meaning that a seasonal jab has never become more important. The problem is vaccine mandates during the pandemic – combined with concerns about the rapid development of the shots – have created some fatigue and even reluctance around immunisation.

Ms Garay says that Moderna has to make inoculation simpler and more convenient. It was progressing with developing not only a combination flu and Covid vaccine, but also incorporating and RSV shot for its superjab. “I’d say, from a Moderna future perspective in the short-term, it’s all about preventing respiratory disease across Covid, RSV and flu, and then importantly, combinations of those over time,” she said. “With more vaccine fatigue, actually having one shot that contains all your vaccines is going to be very important to people.”

Australia will not have to wait for such a jab, particularly for RSV in which the Therapeutic Goods Administration has granted Moderna priority review for its vaccine.

“There is not a commercial intent to sequence a launch based on size of market,” Ms Garay said.

“What we are trying to do right now is share what we can as soon as we have the data with regulators around the world. So it (product launches) is going to be more driven by the regulatory bodies and which regulators are going to be most open to potentially accelerating approval based on different datasets.

“Similar to RSV for example where in Australia, we’ll be launching here before any other country in the world because the TGA granted us an accelerated review, which was unique.”