On August 1, 2024, Moderna, Inc. reported its financial results for the second quarter ended June 30, 2024. The company announced a decrease in total revenue to $241 million compared to $344 million in the same period in 2023, primarily due to decreased sales of its COVID-19 vaccine. Net product sales were reported at $184 million, a 37% decrease from the previous year. Despite this, Moderna revised its expected net product sales for 2024 to $3.0 to $3.5 billion, driven by its respiratory franchise. The company also reported a GAAP net loss of $1.3 billion and a GAAP EPS of $(3.33). Notably, Moderna received U.S. FDA approval for its RSV vaccine, mRESVIA, and began shipping in July, with the EMA issuing a positive opinion in June. Additionally, Moderna announced positive Phase 3 data for...Show More

On August 1, 2024, Moderna, Inc. reported its financial results for the second quarter ended June 30, 2024. The company announced a decrease in total revenue to $241 million compared to $344 million in the same period in 2023, primarily due to decreased sales of its COVID-19 vaccine. Net product sales were reported at $184 million, a 37% decrease from the previous year. Despite this, Moderna revised its expected net product sales for 2024 to $3.0 to $3.5 billion, driven by its respiratory franchise. The company also reported a GAAP net loss of $1.3 billion and a GAAP EPS of $(3.33). Notably, Moderna received U.S. FDA approval for its RSV vaccine, mRESVIA, and began shipping in July, with the EMA issuing a positive opinion in June. Additionally, Moderna announced positive Phase 3 data for its combination vaccine against influenza and COVID-19, as well as for its next-generation COVID-19 vaccine. The company's cash position as of June 30, 2024, was $10.8 billion, a decrease from $12.2 billion as of March 31, 2024. Moderna's CEO, Stéphane Bancel, highlighted the approval of their second mRNA product and the focus on the upcoming COVID season and the launch of the RSV vaccine in the U.S.