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Moderna Reports 3Q $3.6B Loss

Spikevax (COVID-19 vaccine) sales in the quarter were down 44% to $1.8 billion while R&D expenses increase 41% to $1.2 billion.

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By: Kristin Brooks

Managing Editor, Contract Pharma

Moderna 
3Q Revenues: $1.8 billion (-46%)
3Q Loss: $3.6 billion (earnings were $1.0 billion 3Q22)
YTD Revenues: $4.0 billion (-72%)
YTD Loss: $4.9 billion (earnings were $6.9 billion YTD22)
Comments: Spikevax (COVID-19 vaccine) sales in the quarter were $1.8 billion, down 44% primarily driven by lower sales volume and partially offset by a higher average selling price.
 
The Company expects the launch of its RSV vaccine in 2024. Moderna has submitted marketing authorization applications globally for mRNA-1345, a vaccine for the prevention of RSV-associated lower respiratory tract disease (RSV-LRTD) and acute respiratory disease (ARD) in adults aged 60 years or older. The Company filed for a Biologics License Application (BLA) with the FDA and used a Priority Review Voucher (PRV) to accelerate review.
 
R&D expenses in the quarter of 2023 increased 41% to $1.2 billion, mainly due to an increase in clinical trial-related expenses and increased clinical development activities, particularly with respect to the Company’s respiratory and oncology programs.

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