The drugmaker posted stronger-than-expected Q4 earnings. The company boosted the full-year sales forecast
Moderna posted diluted GAAP (generally accepted accounting principles) earnings per share of $11.29 for the three months ending in December. The figures are significantly higher than the 69 cents per share loss reported in the year-ago period. Group revenues also topped expectations, coming in at $7.21 billion. For the whole year, the company announced sales of $18.5 billion for 2021, significantly higher than the $803 million reported for 2020.
Moderna executives mentioned that they believe a fourth COVID-19 vaccine shot will be needed late this year due to waning protection from previous doses. This could push up sales in the second half of 2022. CEO Stephane Bancel stressed that Moderna’s current deals projections for Spikevax COVID-19 shot don’t include any additional sales in the US this year. The figures are expected to be at $19 billion in 2022. Orders for its vaccine have been confirmed for 2023 from Canada, the UK, and Taiwan.
Moderna’s stock price closed 15.10% higher, at $156.23 per share as of Thursday.
Sources: finance.yahoo.com, thestreet.com