Moderna Beats Q2 Revenue Estimates as Shares Fall 5.4%

Moderna, Inc. reported second-quarter revenue of $145 million, surpassing the consensus estimate of $103 million. The growth was driven by increased partnership revenue and stronger international sales of its COVID-19 vaccine, Spikevax. The company also reported a net loss of $1.97 per share, a figure smaller than analysts had expected, and reduced its research and development spending by 7% year over year.

Despite the earnings beat, shares fell 5.4% as investors expressed caution regarding the company's commercial outlook and execution risks within its late-stage pipeline.

The company is currently awaiting a decision from the Food and Drug Administration regarding its mRNA-based seasonal flu vaccine. If approved, the product would become the first mRNA influenza vaccine authorized for use in the United States.