$Moderna (MRNA.US)$ shares are up almost 7% on Friday, following optimistic remarks made by a senior executive at a healthcare conference about the company's pipeline and financial position.
Lavina Talukdar, Moderna's head of investor relations, shared at the Jefferies London Healthcare Conference on Thursday that the Cambridge, Mass.-based company expects its revenue to support its business by 2028.
"We expect to end the year with $9 billion in cash," Talukdar said, according to a transcript provided by AlphaSense. "Our investment rate ... is declining each year going forward. And we anticipate that $9 billion will have us launching 10 products over the next three years that will start to contribute to revenue a year after approval."
Along with Friday's rise, shares in the last two trading sessions have gained 11%; however, this year they are down almost 60% as the demand for COVID-19 vaccines declines.
