Moderna (MRNA) Tops Q2 EPS by 4c, Revenues Beat

Moderna (NASDAQ: MRNA) reported Q2 EPS of ($0.31), $0.04 better than the analyst estimate of ($0.35). Revenue for the quarter came in at $66.4 million versus the consensus estimate of $27.43 million.

“The second quarter marked a new growth phase for Moderna as we started to build our commercial team, a historic moment for those of us who have worked at the company for many years since it was a breakthrough research enterprise. We would like to thank the entire Moderna team for their commitment to our mission of delivering on a new class of medicines for patients,” said Stéphane Bancel, Moderna’s Chief Executive Officer. “In the second quarter, we began discussions with several countries for supply agreements for mRNA-1273 and as of July 31, we have received approximately $400 million of customer deposits for potential supply. As we pivot to a commercial stage company, we recognize the need for responsible pricing in the face of the pandemic. We look forward to continuing our progress as we prepare for the Phase 3 readout and the expected subsequent filing of our BLA.”

• Ended quarter with $3.1 billion in cash, cash equivalents and investments
• Moderna has received approximately $400 million of customer deposits as of July 31, 2020 for potential supply of mRNA-1273
• Moderna updates 2020 guidance to reflect investments into mRNA-1273; the Company now expects net cash used in operating activities and for purchases of property and equipment to be between $0.65 to $0.85 billion, including the benefit of customer deposits received as of July 31, 2020
• Phase 3 study of mRNA-1273 being conducted in collaboration with NIH and BARDA on track to complete enrollment in September 2020
• Positive 12-month interim results after third and final dose from Phase 1 study of CMV vaccine candidate (mRNA-1647) study
• Safety and immunogenicity data for all dose cohorts of Phase 1 study of Zika vaccine candidate (mRNA-1893)

For earnings history and earnings-related data on Moderna (MRNA) click here.

You May Also Be Interested In

• Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
• Ridgepost Capital acquires Stellus Capital Management for $4B AUM
• Accenture downgraded by TD Cowen on AI concerns