Does Moderna Need to Start Making Money?

Moderna is posting billions in annual losses as COVID-19 vaccine sales decline, but the article argues this may be a sound strategy. The company has a robust pipeline of 30+ vaccines and therapeutics in development, aims to reach 10 commercial products within years, is cutting costs aggressively, and maintains $7.5 billion in cash. Management projects the company will achieve cash flow positivity by 2028.