Categories Earnings, Health Care

Moderna impresses on the financial side as well in Q2

Gets $400 million in customer deposits for the potential supply of its vaccine across the world

Moderna, Inc., (Nasdaq: MRNA), a prime contender in Covid-19 vaccine research, on Wednesday, reported second-quarter financial results that smashed past analysts’ estimates. The company’s revenues during the second quarter came in at $66.3 million, more than double of what the street had anticipated.

Q2 net loss narrowed to 31 cents per share, compared to 41 cents per share a year ago. Analysts had quoted a net loss of 35 cents per share.   

Moderna shares rose 1.5% immediately following the announcement. MRNA stock is one of the top performers this year, rising 310% since January.

Moderna Inc earnings Q2.

Looking forward to listening to management/ analyst comments on Q2 results? Stay tuned here for Moderna Q2 2020 earnings call transcript

Moderna said it has received about $400 million in customer deposits for the potential supply of its Phase 3 Covid-19 vaccine mRNA-1273.

CEO Stéphane Bancel said, “As we pivot to a commercial-stage company, we recognize the need for responsible pricing in the face of the pandemic. We look forward to continuing our progress as we prepare for the Phase 3 readout and the expected subsequent filing of our BLA.”

Enrollment is ongoing for the Phase 3 COVE study.

Last month, the company had provided Phase 1 interim results, besides announcing the start of Phase 3 trials on July 27.  

[irp posts=”65979″]

____

Most Popular

IPO Alert: What to look for when Boundless Bio goes public

Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.

Nike (NKE) bets on innovation and partnerships to return to high growth

Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company

Walgreens Boots Alliance set to report earnings next week. Here’s what to expect

Walgreens Boots Alliance, Inc. (NASDAQ: WBA), the drug store chain that is expanding into a diversified healthcare provider, is on a restructuring drive aimed at better aligning the business with

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top