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Moderna Surges 14% After Covid Vaccine-Maker Surprises With Fourth-Quarter Profit

Moderna (MRNA) saw a significant uptick in its stock value following its better-than-expected quarterly performance, which included an unexpected profit.

In the last quarter of the year, Moderna reported earnings of 55 cents per share, defying predictions of a 99-cent loss per share. Moreover, the company’s sales reached $2.8 billion, surpassing the projected $2.51 billion.

Part of the earnings surprise stemmed from $600 million in deferred revenue, with Moderna also managing to cut down on expenses. Despite a decrease in sales due to reduced Covid-19 vaccine sales, the company is optimistic about its prospects for the year ahead.

Looking forward, Moderna aims for 2024 to be a “year of execution,” planning to continue cost-saving efforts, launch an RSV vaccine, and meet or exceed financial expectations. The company expects approval for its RSV vaccine in the first half of the year and aims to return to growth by 2025.

Moderna’s optimism is fueled by its ongoing initiatives in cancer and infectious disease vaccines. Its partnership with Merck has shown promise in treating melanoma and lung cancer, while work on a vaccine for cytomegalovirus (CMV) is underway.

While concerns exist regarding the potential loss of vaccine effectiveness compared to rivals, Moderna remains focused on its growth trajectory. Analysts anticipate Moderna to generate at least $4 billion in sales this year, with forecasts indicating a return to growth by 2025.

Overall, Moderna’s strong performance and strategic initiatives position it for continued success in the biotech industry.

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