MRNA
In its first quarter of 2024, Moderna Inc. (NASDAQ: MRNA) reported earnings and revenues surpassing Wall Street predictions, boosting its shares by 1.5% in premarket trading. Despite a net loss, the figures were more favorable than analysts anticipated, with a loss per share of $3.07 against the expected $3.55.
Revenue for the quarter was notably strong at $167 million, substantially higher than the consensus estimate of $94.28 million. Moderna managed to reduce its costs, with Research and Development (R&D) expenses down to $1.06 billion from the forecasted $1.14 billion. Moreover, Selling, General, and Administrative (SG&A) costs decreased by 10% year-over-year to $274 million, well below the expected $329 million.
| Q1 2024 Results | Analyst Expectations | |
|---|---|---|
| Loss per Share | $3.07 | $3.55 |
| Revenue | $167 million | $94.28 million |
| R&D Expenses | $1.06 billion | $1.14 billion |
| SG&A Expenses | $274 million | $329 million |
| 2024 Product Sales Forecast | ~$4 billion | — |
Looking forward, Moderna is set to invest approximately $900 million in capital expenditures throughout the year and projects 2024 product sales to hit around $4 billion. The company is gearing up for the fall launch of its RSV vaccine, mRNA-1345, pending regulatory approvals expected in the first half of the year.
CEO Stéphane Bancel highlighted Moderna’s commitment to financial discipline and innovation, particularly through the integration of AI technologies to enhance productivity. The company is poised for a dynamic year with its expanding vaccine platform and numerous product milestones anticipated across its vaccines and therapeutics portfolio.
