Moderna: net loss of $1279m in Q2

(CercleFinance.com) - Moderna reports total sales of $241m for Q2 2024, down 30% y-o-y.
NB: pmt -10.7%.

At the same time, the laboratory R&D expenditure increased slightly, reaching $1221m in Q1 (+6%). Nevertheless, Moderna reported a 27% drop in total operating expenses, to $1604m.

The group posted a net loss of $1279m, close to the loss of $1380m recorded in Q2 2023.

EPS came in at -$3.33, versus -$3.62 a year earlier.

During the second quarter, we marked the approval of our second mRNA product and significantly reduced our operating costs. We remain focused on the execution of the COVID 2024-25 season and the launch of our RSV vaccine in the US, it said.

Moderna is reducing its FY 2024 net product sales outlook to $3bn-$3.5bn for its respiratory franchise, pointing to very weak sales in the EU in 2024, potential revenue deferrals for certain international sales in 2025 and an increasingly competitive environment for respiratory vaccines in the US.

The company anticipates R&D expenditure of around $4.5bn in 2024.


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