Biotechnology company Moderna, Inc. (NASDAQ: MRNA) Thursday reported a sharp decline in revenues for the second quarter of 2024.
Second-quarter revenues decreased to $241 million from $344 million in the prior-year periodNet loss narrowed to $1.28 billion or $3.33 per share in Q2 from $1.38 billion or $3.62 per share a year earlierNet product sales for the quarter were $184 million, reflecting a 37% decrease from the same period in 2023For fiscal 2024, the company expects total product sales to be between $3.0 billion and $3.5 billionFull-year cost of sales is expected to be in the range of 40-50% of product salesQ2 cost of sales was $115 million, including third-party royalties unutilized manufacturing capacity & wind-down costs, and inventory write-downsCash, cash equivalents, and investments as of June 30, 2024, were $10.8 billion, vs. $12.2 billion as of March 31, 2024
The post Earnings Summary: Moderna reports Q2 2024 financial results first appeared on AlphaStreet.
—
Blog powered by G6
Disclaimer! A guest author has made this post. G6 has not checked the post. its content and attachments and under no circumstances will G6 be held responsible or liable in any way for any claims, damages, losses, expenses, costs or liabilities whatsoever (including, without limitation, any direct or indirect damages for loss of profits, business interruption or loss of information) resulting or arising directly or indirectly from your use of or inability to use this website or any websites linked to it, or from your reliance on the information and material on this website, even if the G6 has been advised of the possibility of such damages in advance.
For any inquiries, please contact [email protected]
