Moderna (MRNA) reported mixed fourth quarter earnings and full-year 2024 earnings Friday. Moderna’s stock was down 5% in premarket trading on the earnings results but rose more than 2% sharply after the opening bell.
Moderna reported $966 million in fourth quarter revenue, beating Wall Street estimates of $954 million. The company also reported full-year revenue of $3.2 billion, in line with expectations. Moderna missed on earnings per share, reporting a loss in the quarter of $2.91 per share, compared to Wall Street’s expected loss of $2.75. For the full year, the company also missed on earnings per share, reporting a loss of $9.28 per share compared to consensus estimates of $9.17.
The revenue beat came largely from sales of the company’s biggest product, the COVID-19 vaccine Spikevax, which brought in $3.1 billion for the year. Moderna’s other product, a Respiratory Syncytial Virus (RSV) vaccine, brought in $15 million in the year. The company’s loss came from lower sales versus the previous year and a one-time $238 million charge to end a manufacturing contract.
The company has been under pressure to continue to deliver strong results despite the waning demand for COVID-19 vaccines. Investors have also been watching the company’s efforts to prop up its clinical pipeline.
«There’s really no visible path to profitability that we see on the horizon,» Jefferies analyst Michael Yee told Yahoo Finance Friday.
In a statement Friday, CEO Stéphane Bancel noted that the company worked to reduce costs by 27% in 2024 compared to 2023.
“In 2025, we remain focused on driving sales, delivering up to 10 product approvals through 2027, and expanding cost efficiencies across our business. By the end of 2025, we aim to remove nearly $1 billion in costs,» Bancel said.
There is also concern about how Moderna will operate under a new administration in Washington with the confirmation of Robert F. Kennedy Jr. at the helm of the Health and Human Services (HHS) department. RFK Jr. has been a vocal critic of vaccines and questioned their effectiveness and safety — which could bode poorly for companies like Moderna whose pipeline consists entirely of vaccines.
The stock didn’t move after RFK Jr.’s confirmation on Thursday. But Bank of America Securities analysts wrote in a note they expect to hear on the topic from Bancel during an earnings call on Friday.
«Focus of the call will likely include 2025 guidance, RFK Jr implications at HHS, clinical catalysts, and upcoming launches,» the note said.
Story Continues
