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
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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
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