Moderna's Q4 Loss Wider Than Expected
The biopharma reported disappointing fourth-quarter results, missing bottom line estimates amid a steep decline in COVID-19 vaccine sales.
Moderna (NASDAQ:MRNA), the biotech company known for its Spikevax COVID-19 vaccine, released its fourth-quarter earnings on Feb. 14. The results revealed significant financial challenges as the market for COVID vaccines shifts from government contracts to a seasonal commercial market. Revenue fell 65.6% year over year to $966 million, but that surpassed analysts' consensus expectations of $942 million. The company delivered a loss of $2.91 per share, worse than the expected loss of $2.68 per share.
Source: Analysts' estimates for the quarter provided by FactSet.
Moderna is a biotechnology company primarily engaged in the development and manufacturing of messenger RNA (mRNA) medicines and vaccines. It spearheads innovation using mRNA technology to pursue vaccines and therapeutics for a range of diseases, including COVID-19, cancer, and rare disorders. Its COVID-19 vaccine, Spikevax, was its first approved product, and was a key part of the public health response to the pandemic.
