Moderna Provides U.S. COVID-19 Vaccine Supply Update

• Company has supplied 45.4 million doses of Moderna COVID-19 Vaccine to U.S. Government to date
• The CDC communicated that approximately 25.5 million doses of the Moderna COVID-19 Vaccine have been administered in the U.S.
• Additional 33.2 million doses have been produced and are filled in vials and in the final stages of final production and testing before release
• Moderna expects to deliver 100 million doses to the U.S. Government by end of March 2021
• Moderna expects to deliver 100 million additional doses by end of May 2021 followed by another 100 million additional doses by end of July 2021

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Feb. 16, 2021-- Moderna, Inc. (Nasdaq: MRNA), a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, today provided a supply update for the Moderna COVID-19 Vaccine in the United States, reporting that 45.4 million doses have been supplied to the U.S. Government to date. The Company continues to work closely with the U.S. Government to provide regular updates on supply and production. An additional 33.2 million doses of Moderna COVID-19 Vaccine have been filled in vials and are at various stages of final production and testing before release to the U.S. Government. Approximately 25.5 million doses of the Moderna COVID-19 Vaccine have been administered in the U.S., according to the U.S. Centers for Disease Control and Prevention¹.

Short term delays in the final stages of production and release of filled vials at Moderna’s fill and finish contractor Catalent have recently delayed the release of some doses, but these delays are expected to be resolved in the near term and are not expected to impact monthly delivery targets.

The Company expects to meet commitment dates to the U.S. Government for all currently ordered doses of the Moderna COVID-19 Vaccine, including targeting delivery of the first 100 million doses by the end of the first quarter 2021. The Company has moved forward delivery of its second 100 million doses by one month, from end of June 2021 to end of May 2021. It has moved forward delivery of its third 100 million doses by two months, from end of September 2021 to end of July 2021.

These commitments reflect a ramping up of production over the last few months and an expectation of further ramp up over the coming months. Between October and the end of December, the Company produced 17.8 million doses that were released at the end of December 2020, and 19.1 million doses were produced and released in January 2021, representing roughly a tripling of monthly production. Looking forward, the monthly doses released to the US Government are expected to double again by April, with an expected average of 30-35 million doses per month for February and March, and 40-50 million doses a month from April through the end of July.

The Company does not intend to stockpile significant quantities to smooth shipments, choosing instead to ship doses to the U.S. Government as released. Accordingly, weekly totals of released doses are expected to be volatile and may not reflect the underlying trajectory of manufacturing scale-up. The Company is in active and frequent communication with the U.S. Government to provide transparency on expected timing of deliveries in order to aid the U.S. Government’s vaccine deployment efforts.

All U.S. supply comes from Moderna’s dedicated supply chain in the U.S. Supply to locations outside of the U.S. comes from dedicated supply points based outside of the U.S.

The Moderna COVID-19 Vaccine received Emergency Use Authorization from the U.S. Food and Drug Administration (FDA) on December 18, 2020 and Moderna began supplying to the government shortly thereafter. The U.S. Government has agreed to purchase a total of 300 million doses of the Moderna COVID-19 Vaccine.