11:48 AM EDT, 06/12/2025 (MT Newswires) -- Moderna ( MRNA ) is in talks with pharmaceutical and financial companies on funding late-stage vaccine trials, part of its broader strategy to expand its portfolio while cutting costs, Chief Executive Officer Stephane Bancel said Wednesday at a conference.

"We are actively looking at partnerships for project financing like we did with Blackstone (BX) last year in flu or Big Pharma," Bancel said at a Goldman Sachs global health-care conference.

Moderna ( MRNA ) has a history of partnering with leading drugmakers, including AstraZeneca (AZN) and Merck (MRK), Bancel said.

The company has resized "tremendously, and we're not done," Bancel said. Cash costs in Q1 fell 19%, and cuts may exceed guidance this year, the CEO said.

Moderna ( MRNA ) shares fell 2.6% in recent trading Thursday.

Price: 27.04, Change: -0.71, Percent Change: -2.56