Zhitong Finance and Economics learned that before the U.S. stock market on Thursday, Moderna (mrnaUS) announced results for the fourth quarter of fiscal 2023. According to the financial report, Moderna's Q4 revenue was 28$1.1 billion, down 48% year-on-year, better than market expectations of 25$100 million. Moderna said the recognition of $600 million in deferred revenue related to the Global Vaccine Alliance (G**I) drove quarterly results. Net profit was 2$1.7 billion, compared to a net profit of 14.7 billion in the same period last year$6.5 billion; Diluted earnings per share were 0$55, better than the consensus estimate of a loss per share of 0$99. As of press time, Moderna's U.S. stock rose more than 6% in premarket trading on Thursday.
Moderna expects full-year 2024 product sales of $4 billion. The company said it expects its investigational respiratory syncytial virus (RSV) vaccine in older adults to receive regulatory approval in the first half of 2024, which will be the company's second commercialised product. The company said the U.S. Food and Drug Administration (FDA) will decide whether to approve its RSV vaccine by May 12. In addition, the company said it expects more key milestones in its late-stage R&D phase this year.
Moderna CEO Stéphane Bancel said the company is focusing on working with public health** to increase vaccination rates. He added that the approval of the RSV vaccine is expected to be "a big step forward" for the company. "A lot of people think we're just a COVID vaccine company, but there's a lot more to moderna," he said. He added: "We believe that our RSV vaccine is very competitive. ”
As the world emerges from the pandemic and the demand for Covid vaccines decreases, Moderna's business is under increasing pressure. Moderna's share price has risen 45% over the past year, compared to 25% in the S&P 500 over the same period. Moderna's strategy is to develop new uses of mRNA technology to combat influenza, RSV, cancer, and other diseases. Last December, a study revealed that Moderna had a similar relationship with Merck & Co., Ltd. (MRKUS) has helped prevent severe cancer over a three-year period.