Biotechnology company Moderna, Inc. (NASDAQ: MRNA) has reported a net loss for the fourth quarter of 2024, compared to a profit last year.
- Total revenue for the fourth quarter was $1.0 billion, compared to $2.8 billion in the same period of FY23
- Net product sales for the quarter were $938 million, reflecting a 66% year-over-year decrease
- The company reported a net loss of $1.1 billion for the December quarter, compared to net income of $217 million in Q4 2023
- On a per-share basis, net loss was $2.91 in the fourth quarter, compared to earnings per share of $0.55 in the prior-year quarter
- Cost of sales for Q4 came in at $739 million, which included third-party royalties of $45 million, inventory write-downs of $193 million, and wind-down costs of $259 million
- Research and development expenses decreased by 20% to $1.1 billion during the three months
- Cash, cash equivalents, and investments as of December 31, 2024, were $9.5 billion, compared to $9.2 billion as of September 30, 2024