Moderna sees revenue bump from international COVID vaccine sales
Moderna reported $389 million in first-quarter sales, more than tripling its total from the same period a year ago, primarily due to international sales of its COVID-19 vaccine. The company also expects possible readouts this year for a norovirus vaccine and an immunotherapy being tested against multiple solid tumors.
Moderna's first-quarter sales reached $389 million, exceeding Wall Street analysts' expectations and more than tripling its total from the same period a year ago. International sales of its COVID-19 vaccine drove the surge. The company reported a net loss of $1.3 billion due to charges related to a litigation settlement with Arbutus Biopharma and Genevant Sciences. Moderna's cancer work, including a melanoma vaccine with Merck, is valued at over $18 billion. The company expects possible readouts this year for a norovirus vaccine and an immunotherapy being tested against multiple solid tumors. Moderna's stock price has risen to around $45 apiece, with shares up as much as 7% in early Friday trading.
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