Moderna loses less than expected as Covid vaccine sales beat estimates, cost cuts take hold
Publishing timestamp: 2024-05-02 09:53:47
Summary
Moderna posted a narrower-than-expected loss for the first quarter as cost-cutting efforts took hold and sales of its Covid vaccine topped estimates. The company is close to having another product on the market, which is needed as demand for Covid shots decreases worldwide. Moderna expects U.S. approval for its vaccine against respiratory syncytial virus on May 12 and shares rose more than 6% following the results. The company is also working with OpenAI to automate business processes.
Sentiment: POSITIVE
Tickers: MRNA,
Keywords: pharmaceuticals, biotech and pharmaceuticals, business news, biotechnology, earnings, breaking news, moderna inc, health care industry, business,
Source: https://www.cnbc.com/2024/05/02/moderna-mrna-earnings-q1-2024.html