Moderna Inc. revealed on Friday that its total revenue landed at $966 million in the fourth quarter of its fiscal 2024, falling by 65% from the same period a year ago. The figure came above market estimates.
In the fourth quarter, the biotechnology giant reported a $1.1 billion net loss, compared to the $217 million net income seen last year. Its diluted loss per share came in at $2.91, from $0.57 earnings per share compared to the corresponding quarter in 2023. During the quarter, Moderna reported $923 million in Spikevax sales. For the full 2024, revenue dropped 52% to $3.2 billion, a net loss of $3.5 billion and diluted loss per share of $9.28.
"By the end of 2025, we aim to remove nearly $1 billion in costs ... We anticipate multiple approvals starting this year, along with key Phase 3 readouts that will support our long-term growth," CEO Stephane Bancel noted. The company's stock lost 3.67% during the premarket trade to sell at $30.75 apiece.
