Moderna’s 4Q Results Impacted by Drop in COVID Vax Sales

Moderna
4Q Revenues: $5.1 billion (-29%)
4Q Earnings: $1.5 billion (-70%)
FY Revenues: $19.3 billion (-4%)
FY Earnings: $8.4 billion (-31%)
Comments: Results in the quarter impacted by a decrease in COVID-19 vaccines sales. Product sales for the quarter were $4.9 billion, down 30%, primarily driven by lower sales volume and the related manufacturing ramp up in 4Q21.
 
Spikevax Bivalent BA.4/BA.5 authorized under EUA in the U.S. as a booster dose for all age groups from 5 months. Moderna will file for regulatory approval for mRNA-1345, an investigational RSV vaccine for older adults, in 1H23. mRNA-1345 was recently granted FDA Breakthrough Therapy Designation. mRNA-4157, the company’s investigational personalized cancer vaccine in combination with Merck’s Keytruda, was granted Breakthrough Therapy Designation.
 
R&D expenses for the quarter increased by 87% to $1.2 billion, mainly due to an increase in clinical trial-related expenses, particularly with respect to RSV, seasonal flu and CMV programs.