Categories Earnings, Health Care

Moderna reports higher earnings, wider loss in Q3

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.

Moderna inc Q3 2020.

Looking forward to listening to management/ analyst comments on Q3 results? Stay tuned here for Moderna Q3 2020 earnings call transcript

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

AVGO Earnings: All you need to know about Broadcom Q1 2021 earnings results

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

Infographic: Costco (COST) Q2 2021 sales up 15%; earnings miss

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

Will shifting to as-a-service model help Hewlett Packard in emerging stronger from COVID?

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

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