Moderna, a biotechnology company specializing in mRNA medicines, reported stable net product sales of $1.8 billion in Q3 2024, matching the previous year's quarter. The company saw a significant turnaround with earnings per share of $0.03, compared to a loss per share of $(9.53) in Q3 2023. Moderna's COVID-19 vaccine, Spikevax, and the newly approved RSV vaccine, mRESVIA, contributed to the sales. The company's diverse pipeline includes 36 development candidates across 45 programs, with 42 in clinical studies. Moderna's Canadian manufacturing facility in Quebec received a Drug Establishment License, with production expected to start in 2025. The company's RSV vaccine was approved by the FDA and the European Commission for adults aged 60 and older, and sales commenced in the U.S. in Q3 2024. Moderna also reported positive...Show More

Moderna, a biotechnology company specializing in mRNA medicines, reported stable net product sales of $1.8 billion in Q3 2024, matching the previous year's quarter. The company saw a significant turnaround with earnings per share of $0.03, compared to a loss per share of $(9.53) in Q3 2023. Moderna's COVID-19 vaccine, Spikevax, and the newly approved RSV vaccine, mRESVIA, contributed to the sales. The company's diverse pipeline includes 36 development candidates across 45 programs, with 42 in clinical studies. Moderna's Canadian manufacturing facility in Quebec received a Drug Establishment License, with production expected to start in 2025. The company's RSV vaccine was approved by the FDA and the European Commission for adults aged 60 and older, and sales commenced in the U.S. in Q3 2024. Moderna also reported positive Phase 3 results for its RSV vaccine for high-risk adults and its next-generation COVID-19 vaccine. However, the company discontinued five programs due to strategic prioritization. Total revenue for the nine months ended September 30, 2024, decreased by 44% compared to the same period in 2023, mainly due to lower net product sales of the COVID-19 vaccine. Operating expenses saw a significant reduction, with cost of sales decreasing by 77% for Q3 and 81% for the nine-month period. Research and development expenses slightly decreased, reflecting cost-saving measures and a focus on advancing late-stage development candidates. Selling, general, and administrative expenses also decreased due to cost discipline and efficiencies. Moderna anticipates further reductions in net product sales for the COVID-19 vaccine as the market transitions to a seasonal commercial model, but expects to maintain substantial expenses for ongoing research and development activities.