: Moderna reorganizes to sharpen focus on vaccine sales, chief commercial officer to leave company

Moderna Inc. MRNA on Tuesday announced a reorganization designed to sharpen the company’s focus on driving sales of COVID vaccine Spikevax and on the expected 2024 launch of a vaccine for respiratory syncytial virus. Stephane Bancel, Moderna’s CEO, will take on responsibility for sales and marketing next year, the company said, working directly with the commercial team. Arpa Garay, previously chief commercial officer, will leave the company in the coming months, Moderna said. Moderna president Dr. Stephen Hoge will assume oversight of pipeline commercial strategy and medical affairs, “to ensure the company also maintains momentum on its launches beyond 2024,” the company said in a release. The changes come after Moderna last month posted a wider-than-expected third quarter loss and reined in its full-year sales guidance. Moderna shares fell 0.2% premarket on Tuesday and are down 54% so far this year, while the S&P 500 SPX has gained 20%.

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