.August 1, 2024 12:18:38 PM

Moderna Inc (NASDAQ:MRNA) experienced a 21% drop in stock price to $94.14 following the release of its second-quarter financial results. The company reported a revenue of $167 million, but also a net loss of $1.175 billion. Despite a gross profit of $35 million, the operating income was -$1.266 billion, indicating operational challenges. Earnings per share (EPS) stood at -$3.08, with an EBITDA of -$1.23 billion, emphasizing the financial difficulties faced by Moderna. The income before tax showed a loss of $1.165 billion, with an income tax expense of $10 million, painting a challenging financial picture for the company.