Moderna Reveals Third Quarter 2024 Financial Performance Alongside Strategic Developments

Moderna, Inc. announced third quarter 2024 revenues of $1.9 billion with a GAAP net income of $13 million. The company achieved year-to-date product sales of $2.2 billion and maintained its forecast of $3.0 to $3.5 billion for 2024. Key advancements include the initiation of Phase 3 trials for mRNA vaccines targeting norovirus and influenza, as well as an executive committee expansion.

The company reported $1.8 billion in sales from its COVID-19 vaccine, Spikevax, with significant US market contributions. However, sales of the RSV vaccine, mRESVIA, were lower due to late seasonal approvals. Despite a decline in cash reserves, the decrease in selling expenses and a strong product pipeline highlight Moderna's strategic enhancements.

Moderna reiterated its commitment to R&D with plans to achieve 10 product approvals over the next three years. These efforts are underscored by promising Phase 3 data for several pipeline candidates, signifying continued focus on respiratory and other vaccines.