Moderna Reports Mixed Fourth Quarter Earnings
Key Points:
* Moderna (MRNA) announced fourth quarter revenues of $966 billion, exceeding Wall Street estimates of $954 million.
* Full year revenues reached $3.2 billion, meeting expectations.
* Earnings per share fell short, with a quarterly loss of $2.91 per share compared to projected $2.75.
* Full year earnings per share also missed the mark, resulting in a loss of $9.28 per share against consensus of $9.17.
* Revenue growth primarily attributed to sales of Spikevax, the company's COVID-19 vaccine ($3.1 billion).
* RSV vaccine contributed $15 million in annual revenue.
Additional Insights:
* Moderna faces pressure to maintain strong performance amid declining COVID-19 vaccine demand.
* Investors monitor the company's clinical pipeline development.
* CEO Stéphane Bancel outlines plans to reduce costs by 27% in 2024 compared to 2023.
* Company aims to secure 10 product approvals by 2027 and enhance cost efficiency throughout the business.
* Potential concerns over Moderna's operations under Robert F. Kennedy Jr.'s leadership at the HHS department.
* Analysts expect Bancel to address Kennedy's implications during an earnings call.
Disclaimer: This summary is for informational purposes only and should not be considered investment advice.