Jefferies analyst Andrew Tsai says a breakthrough in a skin‑cancer vaccine
positions Moderna to have more than seven marketed products by 2027-28. He notes
the company is diversifying into respiratory drugs, oncology and AI-designed
therapeutics. Jefferies projects 2026 revenue could rise up to 10% from $1.9bn
in 2025, which could allow Moderna to reach break-even in 2028. Successful
trials of Moderna’s experimental mRNA cancer vaccine could drive sales growth
beginning in 2027.