Moderna 2022 Priorities and Capital Allocation
Moderna's capital allocation priorities
1
2
Reinvest in the business &
accelerate investment in R&D,
manufacturing infrastructure and
company buildout
Seek attractive external investment
opportunities (licenses and/or
M&A) to further expand the reach
of Moderna's technology
■
3
Return capital to shareholders
Slide 32
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R&D Expense (in $B)
Capital Expenditure (in $B)
~$2.5-$3
$2.0
$1.4
~$0.6-$0.8
$0.5
$0.4
<$0.1
2019 2020 2021 2022E
$0.1
2019 2020 2021 2022E
METAGENOMI
carisma
THERAPEUTICS
Completed original $1 billion share buyback program in January 2022
Announced new $3 billion share buyback program in February 2022;
Approximately $2.5 billion remaining capacity from the $3 billion authorization,
as of the end of March
Repurchased 3.8M shares for $0.6 billion in Q1 2022
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