Moderna Reports Smaller Than Expected Q1 Loss, Prepares For RSV Vaccine And Spikevax 2024-2025 Formula, Stock Soars
Portfolio Pulse from Vandana Singh
Moderna Inc (NASDAQ:MRNA) reported a smaller than expected Q1 loss with an EPS of $(3.07), surpassing consensus estimates. Sales were $167 million, down from $1.9 billion a year ago but above expectations, as COVID-19 vaccine sales declined. The company reduced R&D expenses by 6% and announced the termination of a gene editing collaboration with Metagenomi Inc (NASDAQ:MGX). Moderna reaffirmed its 2024 sales expectations for its respiratory franchise at around $4 billion. MRNA shares surged 9.94% to $122.50.
May 02, 2024 | 5:12 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Moderna ended its gene editing collaboration with Metagenomi Inc as part of its strategic R&D investment prioritization.
The termination of the collaboration between Moderna and Metagenomi is part of Moderna's broader strategy to prioritize its R&D investments. While this news directly impacts Metagenomi, the short-term financial impact on MGX's stock is uncertain without further details on the financial implications of this termination.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Moderna reported a smaller than expected Q1 loss and higher sales, leading to a 9.94% increase in its stock price. The company is focusing on cost-saving and reaffirmed its 2024 sales expectations.
Moderna's better than expected Q1 performance and reaffirmation of its 2024 sales outlook positively impacted investor sentiment, leading to a significant stock price increase. The company's strategic cost-saving measures and focus on its respiratory franchise are likely to support its financial health in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100