On Thursday, Moderna (
MRNA) surprised investors with a profit in the fourth quarter, attributed to cost-cutting measures and deferred payments. Additionally, the company outlined its commercial strategy for its experimental respiratory syncytial virus (RSV) vaccine.
Moderna reported a profit of $217 million, or 55 cents per share, for the quarter, defying analysts' expectations of a loss of 97 cents per share. This unexpected performance prompted a nearly 6% increase in the vaccine maker's shares during premarket trading.
James Mock, Moderna's Chief Financial Officer, explained in an interview that the company surpassed its projections due to unforeseen deferred revenue of $600 million and cost reductions of approximately $300 million, stemming from adjustments in manufacturing output last year.
Despite a 43% decline in fourth-quarter sales of its COVID-19 vacc ...
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