Moderna Inc (NASDAQ: MRNA) reported third-quarter 2020 financial results before the opening bell on Thursday. The frontrunner in COVID vaccine research reported Q3 revenue of $157.9 million, which was well above the Wall Street consensus. Meanwhile, net loss widened to $0.59 per share, missing the target that analysts had projected.
On the research front, the company announced that its COVID-19 vaccine candidate (mRNA-1273) is now fully enrolled with 30,000 participants. Moderna currently has four programs in Phase 2 studies, in addition to the Phase 3 study of COVID-19 vaccine.
MRNA shares gained 3.2% immediately following the announcement. The stock has more than tripled since the beginning of this year.
For 2020, the company said it now expects a positive cash flow in the range of $0.1 billion to $0.3 billion, driven by customer deposits.
CEO Stéphane Bancel said, “We are actively preparing for the launch of mRNA-1273 and we have signed a number of supply agreements with governments around the world. I believe that if we launch our COVID-19 vaccine, 2021 could be the most important inflection year in Moderna’s history.”
Broadcom Limited (NASDAQ: AVGO) reported first quarter 2021 earnings results today. Total revenue increased 14% year-over-year to $6.65 billion. GAAP net income was $1.3 billion, or $3.05 per share, compared
Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the second quarter of 2021. Earnings missed analysts’ expectations, while sales beat. Net profit was $951 million
With the corporate world rapidly shifting to cloud-native computing after the virus outbreak changed work culture and the way businesses operate, technology providers are aggressively innovating their offerings. Hewlett Packard