Moderna shares boosted by estimate-topping financials

2 May 2024

Shares in US mRNA specialist Moderna (Nasdaq: MRNA) were 7% higher during Thursday morning’s trading.

The Boston-based company earlier announced its financial results for the first quarter of 2024 and its latest estimates for the year ahead.

"This is the start of a banner year for our vaccine platform"Total revenue for the quarter was $167 million, compared to $1.9 billion in the same period in 2023. The decline was primarily due to reduced sales of the company's Spikevax COVID-19 vaccine. Indeed, revenue from the shot dropped roughly 90% from the same period a year ago. Of the $167 million in Spikevax sales, $100 million came in the USA and $67 million were elsewhere.

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