Modern Posted on Friday Fourth quarter revenue This is estimated, but as biotech companies continue to lose more than expected Cut costs And demand for its common vaccines has declined.
It marks another quarter Pain for the company’s growthwhich is working to launch new products and recover from the rapid decline of the Covid business that once started.
Hyundai shares fell more than 4% on Friday.
Moderna’s net loss was $1.12 billion, or $2.91 per share in the fourth quarter of 2024. By comparison, net income was $217 million, or 55 cents per share, reportedly from the same period last year.
The company said the quarterly losses included approximately $238 million in non-cash fees related to ending the contract manufacturing agreement.
In an interview, Hyundai CFO Jamesy Mock said one of the most important gains from the company’s full-year 2024 results is that it has a 27% reduction in costs compared to the end of 2023. Moderna expects to reduce costs by $1 billion by the end of 2025. By 2024.
Moderna reiterated its full-year product sales guidance for 2025 to $1.5 billion to $2.5 billion, most of which will appear in the second half of the year. Moderna expects sales in the first half of the year only $200 million in sales due to seasonal demand for respiratory products, which usually rise in the fall and winter.
company Cut sales guidance for 2025 About $1 billion in January caused its shares to plummet. Now, the stock has fallen more than 20% in the year.
At the time, ModernA pointed to increased competition in the common market, decreased vaccination rates, uncertainty with manufacturing contracts in a few countries and the uncertainty surrounding the Centers for Disease Control and Prevention’s advisors, suggesting a shot of respiratory synthetic viruses. Reinoculation.
“If those potential headwinds hit, that’s what brings us to the low end of our guidance,” Mock told CNBC, adding that the company wants to “hit” the challenge.
This is what Hyundai’s fourth quarter report ends on December 31 Compared to what Wall Street expects, according to LSEG’s survey of analysts:
- Loss per share: $2.91 vs. Expected loss $2.68
- income: $966 million, estimated $942.8 million
Moderna’s sales were $966 million, less than half of the $2.8 billion recorded in the same period a year ago.
The vast majority of this total comes from its co-shooting, with ticket prices of $923 million, down 66% from the previous year. This includes $244 million in U.S. sales and $679 million from international markets.
Analysts expect sales to increase by $909 million in the quarter, according to estimates compiled by StreetAccount.
Moderna said the decline was mainly due to the launch of the latest iteration of Covid shooting last year, which shifted sales to the third quarter. The FDA approved the new vaccine three weeks ahead of 2023, allowing modern people to “meet demand more effectively by the fourth quarter.” The company added.
According to ModernA, Covid vaccine sales fell as the company continued to sign pre-purchase agreements with certain countries.
The company’s fourth-quarter revenue also included $15 million in U.S. RSV sales, which was launched to seniors in the fall and winter after winning approval in May. This is the second product approved after Hyundai approved the vaccine.
According to Streetaccount’s estimates, analysts expect sales of RSV vaccines to be $13 million. Modern RSV lenses have been approved by adults aged 60 and older, including the United States, European Union, Canada, Norway, Iceland and Qatar, as well as other countries.
The company bets on pipelines built around its Messenger RNA platform, the technology used in both products. Moderna plans to strengthen its portfolio with 10 new product approvals over the next three years.
In the fourth quarter, ModernA submitted three MRNA products for regulatory approvals, including its “next generation” Covid shooting, a combined shooting targeting Covid, and a flu and RSV vaccine for high-risk adults aged 18 to 59. According to Mock, the FDA’s next-generation Covid shooting in May, as well as the potential of RSV shooting in June has expanded.
Moderna is also developing a standalone flu vaccine, a personalized cancer vaccine with Merck, and lenses for potential viruses, among other products. Mock notes that some of these products will be data readings later this year.
The cost of sales in the fourth quarter was $739 million, down 20% from the same period last year. This includes $193 million in writing of unused doses of COVID vaccine.
Compared with the same period in 2023, R&D expenses fell by 20% to $1.1 billion. Modern’s decline is mainly due to its common, RSV, RSV, FLU and COMBINATION SHOT programs have lower clinical development and manufacturing expenditures, while partially increased by increasing. Spend on other new experimental products.
Meanwhile, sales, general and administrative expenses during the period fell 25% to $351 million compared to the fourth quarter of 2023. SG&A fees usually include the fees for promoting, selling and delivering company products and services.
