Moderna Sees Revenue Plummet by 44% through September, But Cuts Losses

The American pharmaceutical company Moderna has ended the first nine months of the year with double-digit declines in revenue, while managing to reduce its losses.

Between January and September, Moderna’s revenues reached $2.27 billion, down 43.7% from the same period last year. Despite the slump, the company managed to reduce its losses, with losses of $2.44 billion, compared to the negative result of the previous year of $4.93 billion.

The American pharmaceutical company has shown signs of improvement in the third quarter, with profits of $13 million, compared to the red figures of $3.63 million in the same period of 2023. In addition, Moderna managed to keep its sales up between July and September, with revenues of $1.86 million, 1.7% more than the previous year.

The good run in the third quarter was conditioned by sales of the Spikevax vaccine against Covid-19, with a turnover of $1.8 billion, 3.5% more than in the same period of 2023. In fact, the results are better than those expected by analysts, who anticipated that the vaccine would generate revenues of $1.38 billion in the third quarter.

Moderna expects to earn between $3,000 and $3,500 for the rest of the year from its Covid-19 vaccine

Moderna has reaffirmed its forecast for sales of between $3 billion and $3.5 billion for its Covid-19 vaccine, assuming that COVID vaccination rates remain stable or drop by up to 10% compared to last year.

The vaccination business is one of the most important for the pharmaceutical company. Last July, Moderna received $176 million to develop a vaccine against avian flu.

In 2023, Moderna began a safety and immunogenicity study of its avian influenza vaccine called mRNA-1018 in healthy adults 18 years of age and older. That study included both the H5 subtype of avian influenza currently circulating in dairy cattle and the H7 subtype of avian influenza. Results from that study are expected later this year and will be used to map out late-stage development plans.

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(Featured image by stevepb via Pixabay)

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First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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