Moderna posted fourth quarter revenues on Friday, surpassing estimates, but the period was lost more than expected as biotech companies continue to cut costs and demand for covid vaccine falls.
It tells us a quarter of growing pains for companies competing to launch new products and recover from the rapid decline in their former competitive business.
Modanya shares rose more than 3% on Friday.
Moderna recorded a net loss of $1.12 billion, or $2.91 per share in the fourth quarter of 2024. This was compared to net income of $227 million (55 cents per share) reported in the same period last year.
The company said the quarterly loss includes approximately $238 million in non-cash charges related to the termination of the contract manufacturing agreement.
In an interview, Medanya’s Chief Financial Officer Jamie Mock said one of the most important points from the company’s full-year 2024 results was a 27% reduction compared to 2023. Ta. 1 billion compared to 2024.
Moderna has its product sales guidance for the full year of 2025, from $1.5 billion to $2.5 billion. Modanya expects to sell $200 million in the first half of the year due to seasonal demand for respiratory products, which usually rise in winter and winter.
The company cut its 2025 sales guidance by around $1 billion in January, causing its stocks to plummet. Currently, stocks are down more than 20% per year.
At the time, Moderna was advised to be a source of increased competition in the Covid market, lower vaccination rates, timing of manufacturing contracts with a few countries, and advisors from the Centers for Disease Control and Prevention recommend recalculation of respiratory syncytial virus shots. pointed out uncertainty regarding
“If all these potential headwinds are hit, that’s what brings us to the low end of our guidance,” Mock told CNBC, adding that the company wants to “fight” the challenges. I did.
Based on an analyst survey by LSEG, what Moderna reported, which ended December 31, compared to what Wall Street had expected:
Loss per share: $2.91 vs. $2.68 loss: $966 million vs. $942.8 million forecast
Moderna posted fourth quarter sales of $966 million, less than half of its $2.8 billion recorded at the same time a year ago.
The majority of that total came from Covidshot, which was raked at $923 million, down 66% from the previous year. This includes $244 million in US sales and $679 million from international markets.
Analysts predicted JAB would attract $909 million in quarterly revenue, according to estimates compiled by StreetAccount.
Moderna said the decline was primarily due to the recent iteration of last year’s Covid Shot’s latest iteration, with sales shifting into the third quarter. The U.S. Food and Drug Administration approved the new vaccine three weeks earlier than 2023, adding that Moderna “will be able to meet demand more effectively than in the fourth quarter.”
According to Moderna, sales of the Covid vaccine fell internationally as the company continued to phase out pre-purchase agreements with certain countries.
The company’s fourth quarter revenue included $15 million in US sales of RSV Shot. It is Moderna’s second approved product after the Covid vaccine.
StreetAccount estimates analysts had expected sales of the RSV vaccine to be $13 million. Modanya’s RSV shots have previously been approved for adults over 60 in the US, the European Union, Canada, Norway, Iceland, Qatar and more.
The company bets on a pipeline built around the messenger RNA platform, the technology used in both of these products. Moderna plans to strengthen its portfolio with 10 new product approvals over the next three years.
In the fourth quarter, Modernina has cited three regulatory approvals, including “next-generation” Covid shots for high-risk adults aged 18-59, a combination shot targeting Covid and influenza and RSV vaccines. mRNA products have been submitted. According to Mock, the FDA could see approval for next-generation Covid filming shots taken in May and RSV filming in June.
Modanya is also developing other products, including standalone flu shots, personalized cancer vaccines with Merck, and potential virus shots. Some of these products will read data later this year, Mock noted.
Sales costs for the fourth quarter were $739 million, down 20% from the same period last year. This includes, among other costs, the $193 million unused covid vaccine.
Research and development expenses fell 20% to $1.1 billion compared to the same period in 2023. Modanya said it was primarily due to reduced clinical development and manufacturing costs for Covid, RSV, influenza and combination shot programs, partially offset by increased spending. About other new experimental products.
Meanwhile, sales, general administrative expenses and administrative expenses for the period fell 25% compared to the fourth quarter of 2023 to $351 million. SG&A costs typically include the costs of promoting, selling and offering a company’s products and services.
