Press release
Moderna Reports First Quarter 2023 Financial Results and Provides Business Updates
First quarter 2023 revenues of $1.9 billion; GAAP net income of $79 million and GAAP diluted EPS of $0.19Company in negotiations for new orders for fall of
About this update from Moderna, Inc.
[{"type":"text","content":"First quarter 2023 revenues of $1.9 billion; GAAP net income of $79 million and GAAP diluted EPS of $0.19Company in negotiations for new orders for fall of 2023 in U.S., Japan, and EU, in addition to reiterating 2023 minimum sales expectations of approximately $5.0 billion from previously announced COVID-19 vaccine Advanced Purchase AgreementsCompany preparing for potential 2024 commercial launch of its investigational RSV vaccine for older adultsCompany to begin Phase 3 trial this year of mRNA-4157, Moderna's individualized neoantigen therapy (INT) in combination with Keytruda®, for melanomaCompany preparing for six major vaccine launches from respiratory franchise (COVID-19, RSV, Flu, and combinations), with expected annual sales of $8-15 billion by 2027CAMBRIDGE, MA / ACCESSWIRE / May 4, 2023 / Moderna, Inc. (NASDAQ:MRNA), a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines, today reported financial results and provided business updates for the first quarter of 2023.\"We had a strong first quarter, with $1.9 billion in revenue, clearly indicating that we are on our way to deliver on the $5 billion of signed Advance Purchase Agreements for 2023. In addition, we are encouraged by the progress of new COVID-19 vaccine contracts in the U.S. for this fall with pharmacy chains, hospital networks and multiple U.S. government agencies. Similar discussions are ongoing with Japan, the EU, and other key markets such as Australia, which recently ordered additional COVID-19 vaccines,\" said Stéphane Bancel, Chief Executive Officer of Moderna. \"At AACR, we presented detailed results for the treatment of melanoma with our individualized neoantigen therapy in combination with Keytruda, showing a 44% reduction of recurrence or risk of death in melanoma compared to Keytruda alone. These data could represent a profound change in the treatment of melanoma, and we are quickly beginning Phase 3 trials in melanoma as well as lung cancer. We also are pleased with our progress in rare disease, where we have now advanced to the dose-expansion phase of our investigational mRNA therapy for propionic acidemia, and have upcoming interim data being shared at ASGCT this month. At the same time, we are fully preparing for potential commercial launches of two products in 2024, our RSV and flu vaccines.\"Recent progress includes:R...