From CNBC: 2024-05-02 07:09:38

Moderna reported a smaller loss than expected in Q1 as Covid vaccine sales exceeded estimates. With a new respiratory virus vaccine on the horizon, the company expects U.S. approval on May 12, aiming for a Q3 launch. Q1 revenues reached $167 million, with a net loss of $1.18 billion. Moderna reiterated its 2024 sales guidance of $4 billion.

The company cut costs, booked $167 million in Q1 sales, expects growth in 2025, and aims for breakeven in 2026. Cost of sales in Q4 was down 88%, while R&D expenses decreased 6% and SG&A expenses dropped 10%. Moderna is investing in AI technology to enhance operations and recently partnered with OpenAI to automate processes.

Moderna shares have risen over 10% in 2024, buoyed by confidence in its pipeline and mRNA platform. The company has 45 products in development, including a combo flu and Covid shot, a standalone flu shot, a cancer vaccine with Merck, and upcoming mRNA shots for latent viruses.



Read more at CNBC: Moderna (MRNA ) earnings Q1 2024