Moderna has reported a net loss of $1.27bn, or $3.33 per diluted share, for the second quarter ended 30 June 2024, compared to a net loss of $1.38bn, or $3.62 per diluted share, for the respective quarter in 2023.
The biotechnology company reported a net loss of $1.17bn or $3.07 per diluted share for the first quarter of 2024 (Q1 2024).
The RNA therapeutics maker reported total revenues of $241m for Q2 2024, a 30% decline compared to $344m for the same quarter in 2023, and a 44% rise compared to $167m for Q1 2024.
Moderna reported total operating expenses of $1.6bn for Q2 2024, a 27% decline compared to $2.21bn for the respective period in the previous year.
The biotechnology company reported a loss before tax of $1.27bn for Q2 2024, compared to $1.75bn for the same quarter in 2023.
The RNA technology company attributed the decline in the net revenues of this quarter primarily to decreased sales of its Covid-19 vaccine.
Moderna CEO Stéphane Bancel said: “During the second quarter, we marked the approval of our second mRNA product and significantly lowered our operating costs.
“We remain focused on execution for the 2024-25 COVID season and the launch of our RSV vaccine in the US.
“With continued positive Phase 3 data across our respiratory portfolio, we are using our mRNA platform to address significant unmet medical needs and advance public health.
“Our platform is poised to reach millions globally this year and we are excited by its continued positive impact on patients.”
Moderna reported a net loss of $2.45bn, or $6.41 per diluted share, for the six months ended 30 June 2024, compared to a net loss of $1.30bn, or $3.39 per diluted share, for the respective period in 2023.
The biotechnology company reported total revenues of $408m for the first half of 2024 (H1 2024), an 81% decrease compared to $2.20bn for the same period in 2023.
Moderna reported total operating expenses of $3.03bn for H1 2024, a 31.5% decline compared to $4.43bn for the respective period in the previous year.
The company reported a loss before income tax of $2.44bn for H1 2024, compared to a loss before tax of $2.05bn for the same period in 2023.
Recently, Boston-based biotech company Leveragen signed a research and licence agreement with Moderna to use the latter’s single-domain antibody discovery platform.
