Press release
Moderna Reports Second Quarter 2024 Financial Results and Provides Business Updates
Reports second quarter revenues of $241 million, GAAP net loss of $1.3 billion and GAAP EPS of $(3.33)Updates 2024 financial framework and revises
About this update from Moderna, Inc.
[{"type":"text","content":"Reports second quarter revenues of $241 million, GAAP net loss of $1.3 billion and GAAP EPS of $(3.33)Updates 2024 financial framework and revises expectations for product sales to $3.0 to $3.5 billionReceived U.S. FDA approval for RSV vaccine, mRESVIA, and began shipping in July; received EMA positive opinion in JuneAnnounced positive Phase 3 data for combination vaccine against influenza and COVID-19Announced positive Phase 3 data for next-generation COVID-19 vaccine CAMBRIDGE, MA / ACCESSWIRE / August 1, 2024 / Moderna, Inc. (NASDAQ:MRNA) today reported financial results and provided business updates for the second quarter of 2024.\"During the second quarter, we marked the approval of our second mRNA product and significantly lowered our operating costs. We remain focused on execution for the 2024-25 COVID season and the launch of our RSV vaccine in the U.S.,\" said Stéphane Bancel, Chief Executive Officer of Moderna. \"With continued positive Phase 3 data across our respiratory portfolio, we are using our mRNA platform to address significant unmet medical needs and advance public health. Our platform is poised to reach millions globally this year and we are excited by its continued positive impact on patients.\"Recent progress includes:Commercial UpdatesCOVID-19: The Company reported $184 million in Spikevax® (COVID-19 vaccine) sales in the second quarter of 2024, which includes $162 million of U.S. sales and $22 million of international sales.Contracting is mostly complete in a highly competitive COVID market. Moderna is ready for the upcoming vaccination season with ample and timely supply. In the U.S., the majority of contracts are finalized and Moderna's focus is on working with public health officials, health care providers and pharmacies to drive vaccination coverage rates to reduce the substantial burden of COVID-19. In the European Union (EU), Moderna is negotiating a tender framework agreement to provide market access; however, based on recent discussions, the Company now expects very low EU sales in 2024. In the Rest of World, the Company has multiple signed contracts in place, with some potential revenue deferrals into 2025.RSV: Following U.S. Food and Drug Administration (FDA) approval in May and the Advisory Committee on Immunization Practices (ACIP) recommendation in June, Moderna's RSV vaccine, mRESVIA®, has l...