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    Jarvi On

    Vice President and Equity Research Analyst at Citigroup

    Jarvi On is a Vice President and Equity Research Analyst at Citigroup, specializing in the coverage of the internet and Chinese technology sectors. He focuses on leading companies such as Alibaba, Tencent, JD.com, Meituan, and Pinduoduo, delivering in-depth financial analysis and investment recommendations. Since joining Citigroup in 2018, Jarvi has demonstrated strong analytical performance, with his calls recognized among institutional clients and ranked on platforms like TipRanks for accuracy and returns. Prior to Citigroup, he held roles in equity research at other leading financial institutions and holds FINRA Series 7 and 63 licenses, exemplifying high standards of professional credentials and industry expertise.

    Jarvi On's questions to Moderna (MRNA) leadership

    Jarvi On's questions to Moderna (MRNA) leadership • Q2 2025

    Question

    Jarvi On, on behalf of Jeff Meacham, asked how Moderna balances R&D cost-cutting with advancing its late-stage pipeline and if the decision to add secondary endpoints for the CMV trial was prompted by the FDA.

    Answer

    CFO Jamey Mock and CEO Stéphane Bancel explained that financial discipline involves pausing new Phase 3 studies for latent vaccines and leveraging partnerships, like with Merck, while still investing significantly in late-stage assets like CMV and oncology. President Stephen Hoge clarified that Moderna initiated the CMV trial update to maximize its value but did so in consultation with regulators.

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