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.”
______
Most Popular
PEP Earnings: All you need to know about PepsiCo’s Q3 2024 earnings results
PepsiCo, Inc. (NASDAQ: PEP) reported its third quarter 2024 earnings results today. Net revenue dipped 0.6% to $23.3 billion compared to the same period a year ago. Organic revenue growth
Walgreens Boots Alliance’s Q4 results likely to reflect market challenges
Walgreens Boots Alliance, Inc. (NASDAQ: WBA) has been struggling to maintain sales momentum and profitability for quite some time due to a challenging operating environment. The main headwinds to the
Bank earnings preview: What to expect when the banking giants report Q3 2024 results
A slew of major banks are set to report their earnings results for the third quarter of 2024 over this week and the next. The focus will be on interest
