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Moderna has revealed it will add to its workforce and its U.S. office footprint.
In a press release put out Friday, Moderna said it will add about 2,000 new employees around the world.
Moderna’s hiring efforts seemingly contrast with the reductions announced or instituted recently by numerous companies in a range of sectors.
An illustration of a person holding a medical syringe and a COVID-19 vaccine vial in front of the Moderna logo Jan. 12, 2021, in Edmonton, Alberta, Canada. (Artur Widak/NurPhoto via Getty Images / Getty Images)
The recruitment effort will lift the biotech company’s workforce number, which stood at the end of 2022 around 3,900, according to an annual report Moderna filed with the Securities and Exchange Commission (SEC) in February.
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The Massachusetts-based company’s expansion of its American real estate footprint will involve adding offices in two cities on the West Coast – South San Francisco and Seattle.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MRNA | MODERNA INC. | 138.29 | +0.93 | +0.68% |
According to the release, the South San Francisco office will mark growth for Moderna Genomics. The new Seattle office is expected to “provide technology solutions across the enterprise” as well as “further scale the implementation of artificial intelligence and cloud-based tools across the platform.”
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Massachusetts, Georgia, Maryland and New Jersey are the states where Moderna’s existing American properties are located, according to the release.
The Moderna logo and a stock graph are displayed in this illustration May 3, 2022. ( REUTERS/Dado Ruvic/Illustration / Reuters)
“Our team has continued to push beyond what we ever imagined possible to completely reimagine how medicines are created and delivered,” Moderna Chief Human Resources Officer Tracey Franklin said in the news release. “We are making significant investments in both people and infrastructure to build the most impactful version of Moderna.”
The company pointed to it “rapidly advancing its pipeline of mRNA medicines,” highlighting the “personalized cancer vaccine candidate” it developed with Merck and its respiratory syncytial virus (RSV) vaccine candidate.
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In February, Moderna said its fourth-quarter revenue saw a 29% year-over-year decrease to come in at $5.08 billion, a figure it attributed as being “mainly due to a decrease in sales of the company’s COVID-19 vaccine.” Its net income, at $1.47 billion, also saw a drop from the same quarter the prior year.
Syringes sit in front of a Moderna logo in this illustration Nov. 27, 2021. (REUTERS/Dado Ruvic/Illustration/File Photo / Reuters)
The biotech company had a total of $19.26 billion in revenue for fiscal 2022, up from the figure it posted for the prior year. Net income went from $12.20 billion in fiscal 2021 to $8.36 billion in 2022, Moderna said.
