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Moderna Inc. Reports $1.9 Billion in Revenue

May 6, 2021 • 8:26 am CDT
(Vax-Before-Travel News)

Cambridge-based Moderna, Inc. (Nasdaq: MRNA) announced financial results and provided business updates for the first quarter of 2021, and highlighted pipeline progress. Total revenue was $1.9 billion for the three months ended March 31, 2021, compared to $8 million for the same period in 2020. Net income was $1.2 billion.

A total of 102 million experimental Moderna COVID-19 vaccine doses were produced, generating a significant amount of the Company's revenue.

The Company increased its 2021 supply forecast to between 800 million and 1 billion vaccine doses, And Moderna confirmed it is making investments to increase global supply for COVID-19 Vaccine to up to 3 billion doses in 2022.

On December 18, 2020, the U.S. Food and Drug Administration (FDA) issued an emergency use authorization enabling the mRNA COVID-19 Vaccine Moderna to be distributed in the USA for use in individuals 18 years of age and older. 

Furthermore, Moderna plans to initiate a rolling submission to the FDA for a Biologics License Application in the U.S. during May'21. The FDA is the regulatory authority with oversight of the safety, effectiveness, and quality of vaccines used in the USA.

“In the first quarter, the Moderna team delivered on its supply commitments to help protect more than 100 million people. This accomplishment translated into our first profitable quarter in the company’s history, after 10 years of scientific innovation and several billion dollars invested to make our mRNA platform a reality,” commented Stéphane Bancel, Chief Executive Officer of Moderna, in a press release.

Moderna will host a live conference call and webcast at 8:00 a.m. ET on Thursday, May 5, 2021. To access the live conference call, please dial 866-922-5184 (domestic) or 409-937-8950 (international) and refer to conference ID 7487119.

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