Health Care

Moderna is one of the most mentioned companies in the U.S. across all news items in the past 12 hours, according to Factiva data. Moderna swung to a first-quarter loss of $1.18 billion, or $3.07 a share, from a profit of $79 million, or 19 cents a share, a year earlier. Analysts had forecast a loss of $3.56 a share, on average, according to data provided by FactSet. First-quarter revenue plunged by 91% to $167 million, which still surpassed the average Wall Street target of $93 million. At the peak of the pandemic, in 2022, Moderna generated $19.3 billion in revenue. Dow Jones & Co. owns Factiva.

Moderna (MRNA) on Thursday reported a smaller-than-expected loss for the first quarter, while the drugmaker affirmed its full-year revenue outlook. The company posted a loss of $3.07 a share for the March quarter, compared with earnings of $0.19 the year before. The consensus on Capital IQ was for a per-share loss of $3.57. The stock was up 6.5% in Thursday trade. Overall revenue plunged to $167 million from $1.86 billion, but was ahead of the Street’s view for $94.3 million. Product sales tanked 91% primarily driven by lower sales volume of the company’s Spikevax COVID-19 vaccine outside the US, Chief Financial Officer James Mock said during a conference call, according to a Capital IQ transcript. “This decline aligns with the anticipated transition of the COVID-19 vaccine market or it’s a seasonal pattern, whereas in the first quarter of 2023, we primarily delivered doses that were deferred from 2022,” according to

The following is a summary of the Moderna, Inc. (MRNA) Q1 2024 Earnings Call Transcript: Financial Performance: Moderna reported Q1 2024 revenues of $167 million, mainly from respiratory vaccine sales. The company noted a net loss of $1.2 billion for the quarter. There was a significant reduction in operating expenses by almost $800 million compared to Q1 2023. Moderna’s cash and investments totaled $12.2 billion by the end of the quarter. Year-over-year reductions in R&D expenses ($1.1 billion) and a 10% decrease in SG&A expenses were witnessed. -Moderna predicts annual net sales for 2024 to be roughly $4 billion and expects cost of sales to be about 35% of product sales. The company anticipates ending the year with approximately $9 billion in cash. Business Progress: Moderna has advanced several clinical programs, particularly in vaccines, with data presented on Epstein-Barr Virus (EBV), Varicella Zoster Virus (VZV), and Norovirus. Expansion of studies

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We up our target price to $115 from $88 based on our NPV analysis. We narrow our 2024 loss per share (LPS) estimate to -$6.21 from -$6.63 and keep 2025’s LPS at -$5.24. Moderna posted a Q1 LPS of -$3.07 vs. EPS of $0.19, a solid $0.48 below the consensus LPS expectation of $3.55, driven by higher-than-expected top-line sales. Q1 revenue of $167M vs. $1.8B, came in $42M above the consensus estimate as the Covid-19 vaccine’s (Spivax) sales came in above expectations but still pointed to a sharp decline Y/Y. MRNA reiterated its net sales target of $4B for 2024, which implies around a 40% Y/Y decline. Shares are up about 13% today, due to better-than-anticipated Q1 results and the hype around the RSV vaccine, in our

Moderna’s (MRNA) top-line sales are expected to start growing in 2025 as three products are anticipated to be approved and multiple products are expected to be launched in the next 12 to 18 months, Oppenheimer said in a note Monday. “The [respiratory syncytial virus] vaccine approval is slated for early May 2024, while Phase 3 flu monotherapy and Phase 3 flu/COVID-19 vaccine trials should read out in 2024,” the firm said. Oppenheimer believes that investors will focus on important regulatory and clinical catalysts over the next 12 to 18 months as they “get comfortable with 2024 sales and [operating expenditure] burn guidance and the burgeoning pipeline.” The firm expects questions to focus on such catalysts on the company’s Q1 earnings call on Thursday. Oppenheimer has an outperform rating on Moderna’s stock and $142 price target.