Moderna beats estimates in Q1 2024, targets RSV vaccine launch in fall
) reported first-quarter earnings and revenue that came ahead of analyst expectations, sending its shares 1.5% higher in premarket trading Thursday.
Research and Development expenses were reported at $1.06 billion, below the anticipated $1.14 billion, while Selling, General, and Administrative expenses were $274 million, marking a 10% decrease year-over-year, and were lower than the expected $329 million. The company anticipates initial regulatory approvals for its RSV vaccine, mRNA-1345, in the first half of 2024, with a targeted U.S. launch in fall 2024.
"As we anticipate the launches of our Spikevax 2024-2025 formula and RSV vaccine, we are exercising financial discipline and have intensified our focus on building and utilizing AI technologies to further streamline operations and enhance productivity," said Stéphane Bancel, CEO of Moderna.
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