Moderna Reports Second Quarter 2024 Financial Results and Business Updates

Moderna, Inc. announced its financial results for Q2 2024, revealing $241 million in revenue, a GAAP net loss of $1.3 billion, and a GAAP EPS of $(3.33). The company revised its 2024 product sales forecast to $3.0-$3.5 billion.

The U.S. FDA approved Moderna's RSV vaccine, mRESVIA, in May, and shipments began in July. The EMA gave a positive opinion on it in June. Additionally, positive Phase 3 data were announced for Moderna's combination influenza and COVID-19 vaccine as well as its next-generation COVID-19 vaccine.

Q2 2024 financial highlights include $184 million in Spikevax® sales, a 37% decrease in net product sales compared to Q2 2023, driven by the seasonal shift in COVID-19 vaccine demand. Cost of sales was $115 million, significantly lower than in Q2 2023.

Research and development expenses increased by 6%, while selling, general, and administrative expenses decreased by 19%. No income tax expense was recognized, and the net loss per share was $(3.33).