Moderna posts surprise quarterly profit even as Covid vaccines sales plummet
Publishing timestamp: 2024-02-22 10:06:49
Summary
Moderna posted a surprise quarterly profit, boosted by deferred revenue and cost cuts, despite slumping sales from its Covid vaccine. The company reiterated its full-year 2024 sales guidance of roughly $4 billion and is excited about its lower-than-expected cost of sales. Moderna is also looking forward to the potential approval of its vaccine against respiratory syncytial virus. The company expects to return to sales growth in 2025 and break even by 2026 with the launch of new products.
Sentiment: MIXED
Keywords: merck & co inc, biotech and pharmaceuticals, moderna inc, earnings, health care industry, business news, biotechnology, breaking news, earnings reports, pharmaceuticals, business,
Source: https://www.cnbc.com/2024/02/22/moderna-mrna-earnings-q4-2023.html