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MRNA vaccine

10 months ago

Moderna's Q1 Earnings Beat Expectations Despite Covid Vaccine Sales Drop

Moderna ($MRNA@US) reported higher-than-expected earnings and revenue for the first quarter, with $1.9 billion in sales driven by deferred Covid shot revenue. Earnings per share were 19 cents versus the $1.77 loss per share expected. Revenue was $1.86 billion versus the $1.18 billion expected. The pharmaceutical company generated $1.9 billion in sales, down more than 30 percent from the same period last year, and posted a net income of $79 million. CEO Stéphane Bancel said the company is in active discussions with customers in Europe, Japan, and the US for new contracts, while also investing aggressively to grow its mRNA-based drug pipeline. Moderna aims to offer life-saving vaccines for cancer, heart disease, and other conditions by 2030.

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