MRNA - Moderna Reports Smaller Than Expected Q1 Loss Prepares For RSV Vaccine And Spikevax 2024-2025 Formula Stock Soars | Benzinga
Thursday, Moderna Inc (NASDAQ:MRNA) reported a first-quarter EPS loss of $(3.07), down from an income of $(0.19), smaller than the consensus estimate loss of $(3.55).
The company reported sales of $167 million, sharply below $1.9 billion a year ago due to evaporating COVID-19 vaccine sales, beating the consensus of $97.5 million.
The company cut research and development expenses by 6% in the quarter, mainly due to the absence of upfront collaboration payments.
Moderna added that clinical development and manufacturing expenses also decreased, driven by lower spending on clinical trials for the company’s COVID-19, RSV, and seasonal flu programs, which aligns with its planned trial schedules.