Moderna Inc

Latest Results (14.08.2024):

Revenue Decline

Moderna Inc reported total revenue of $241 million for the second quarter of 2024, a decrease from $344 million in the same period in 2023. This decline was primarily due to reduced sales of the company's COVID-19 vaccine, reflecting a shift to a more seasonal market with higher demand expected in the fall and winter.

Net Loss

For the second quarter of 2024, Moderna Inc reported a GAAP net loss of $1.3 billion, compared to a net loss of $1.4 billion in the same quarter of the previous year. The net loss per share was $(3.33), slightly improved from $(3.62) in the second quarter of 2023.

Cost of Sales

Moderna Inc's cost of sales for the second quarter of 2024 was $115 million, which included third-party royalties, unutilized manufacturing capacity, and inventory write-downs. This represents a significant decrease from the $731 million cost of sales in the same period in 2023, primarily due to lower sales volume and reduced manufacturing costs.

Research and Development Expenses

Research and development expenses for Moderna Inc increased by 6% to $1.2 billion in the second quarter of 2024, compared to the same quarter in 2023. This increase was driven by higher personnel-related costs and the purchase of a priority review voucher, partially offset by decreased spending on clinical trials for COVID-19 and seasonal flu programs.

Updated Financial Outlook

Moderna Inc revised its 2024 financial framework, now expecting net product sales to be between $3.0 to $3.5 billion. The company anticipates a sales split of 40-50% in the third quarter, with the balance in the fourth quarter of 2024. This update reflects very low expected EU sales, potential revenue deferrals into 2025, and a competitive environment for respiratory vaccines in the U.S.