Moderna, Inc., (Nasdaq: MRNA), a prime contender in Covid-19 vaccine research, on Wednesday, reported second-quarter financial results that smashed past analysts’ estimates. The company’s revenues during the second quarter came in at $66.3 million, more than double of what the street had anticipated.
Q2 net loss narrowed to 31 cents per share, compared to 41 cents per share a year ago. Analysts had quoted a net loss of 35 cents per share.
Moderna shares rose 1.5% immediately following the announcement. MRNA stock is one of the top performers this year, rising 310% since January.
Moderna said it has received about $400 million in customer deposits for the potential supply of its Phase 3 Covid-19 vaccine mRNA-1273.
CEO Stéphane Bancel said, “As we pivot to a commercial-stage company, we recognize the need for responsible pricing in the face of the pandemic. We look forward to continuing our progress as we prepare for the Phase 3 readout and the expected subsequent filing of our BLA.”
Enrollment is ongoing for the Phase 3 COVE study.
Last month, the company had provided Phase 1 interim results, besides announcing the start of Phase 3 trials on July 27.
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