Moderna surprised investors with a profitable third quarter, surpassing expectations and demonstrating the success of its cost-cutting measures. Sales of its Covid vaccine exceeded projections, contributing to the company’s strong performance.
In Q3, Moderna reported a net income of $13 million, or 3 cents per share, a significant improvement from the previous year’s net loss of $3.63 billion. This positive outcome reflects Moderna’s commitment to reducing expenses and achieving $1.1 billion in savings by 2027.
The company is diversifying its product portfolio with the introduction of its vaccine for respiratory syncytial virus (RSV), marking another milestone in its commercial offerings. Additionally, Moderna is preparing to seek approval for its innovative “next-generation” Covid vaccine and combination shot targeting both Covid and influenza.
Looking ahead, Moderna aims to expand approval for its RSV vaccine while continuing to drive growth and innovation in the healthcare sector.
2024-11-07 06:34:31
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