Moderna loses less than expected as Covid vaccine sales beat estimates, cost cuts take hold

Moderna Reports Narrower-than-Expected Loss in Q1 #

Moderna announced a narrower-than-expected loss for the first quarter, attributed to its cost-cutting efforts. Sales of the company’s Covid vaccine surpassed estimates. This positive outcome occurs as Moderna approaches the potential launch of another product. The company maintains its full-year 2024 sales guidance of approximately $4 billion, which includes revenue from the expected introduction of its RSV vaccine. As demand for its Covid shots decreases worldwide, Moderna relies on new products to sustain its trajectory.