Moderna loses less than expected as Covid vaccine sales beat estimates, cost cuts take hold

Moderna reported a smaller-than-expected loss in Q1 due to effective cost-cutting and higher Covid vaccine sales. The company's revenue was $167 million, surpassing estimates, despite a 90% drop from the previous year. Moderna is also anticipating U.S. approval for its RSV vaccine, aiming for a Q3 launch.

The company's financial outlook for 2024 includes expected revenues from its new RSV vaccine, contributing to a forecast of roughly $4 billion for the year. Moderna is optimistic about returning to sales growth by 2025, supported by its diverse development pipeline which includes a combination Covid-flu vaccine and a personalized cancer vaccine.