NEW YORK, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of all persons or entities who purchased or otherwise acquired Moderna Inc. ("Moderna" or the "Company") (NASDAQ: MRNA) securities between January 18, 2023 and June 25, 2024, inclusive (the "Class Period"). The lawsuit seeks to recover damages for the Company's investors under the federal securiti ...

LOS ANGELES, Aug. 12, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against Moderna, Inc. ("Moderna" or "the Company") (NASDAQ: MRNA) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between January 18, 2023 and June 25, 2024, inclusive (the "Class Period"), are e ...

This biotech company's promising pipeline could result in multibillion-dollar revenue. "Buy when there's blood in the streets," was something famous banker Baron Rothschild once advised, suggesting the time to invest is when everyone else is fleeing a particular asset or the market in general. And superstar investor Cathie Wood did just that last week when she added to her holding of Moderna (MRNA -8.06%), buying shares for both her flagship Ark Innovation fund and her Ark Genomic Revolution fund. Moderna s ...

LOS ANGELES, Aug. 2, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Moderna, Inc. ("Moderna" or "the Company") (NASDAQ: MRNA) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Moderna issued a press release on May 31, 2024, disclosing that "the U.S. Food and D ...

COVID-19 vaccine maker Moderna, Inc. MRNA fell over 21% on Thursday after the company reduced its revenue guidance for the year, citing a highly competitive respiratory vaccine market in the U.S. and weak COVID-19 vaccine sales in Europe. What Happened: Moderna stock plunged 21.01% to $94.17 on Thursday and fell an incremental 1.73% to $92.54 in premarket trading on Friday, according to Benzinga Pro data. Cathie Wood's Ark Invest capitalized on the weakness and piled into the stock. On Thursday two of Ark's ...

hapabapa Moderna: Endured A 20% Fall Yesterday Moderna, Inc. (NASDAQ:MRNA) investors endured a torrid earnings release that added more pressure on MRNA, as the stock has declined almost 45% from its May 2024 highs. As a result, there's no doubt that it has plunged firmly into a bear market as the market reassessed its optimism about the embattled MRNA Covid vaccine maker. While the world wants to move on from Covid, it should be noted that the dreaded disease isn't expected to disappear. The World Health Or ...

Key Takeaways The S&P 500 fell 1.4% on Thursday, Aug. 1, ahead of the latest tech earnings reports and as several data points raised concerns about the health of the U.S. economy. Moderna shares tumbled after the biopharma firm cut its full-year revenue forecast, citing reduced demand for its COVID-19 vaccine in Europe. Implementation of a cost-efficient operating model helped freight transporter C.H. Robinson beat earnings estimates, and its shares moved higher. Major U.S. equities indexes moved lower on t ...

Financial Performance - The company reported net product sales of $184 million for Q2 2024 from its COVID-19 vaccine, a decrease from $293 million in Q2 2023[107]. - Total revenue for Q2 2024 was $241 million, a decrease of 30% compared to $344 million in Q2 2023[117]. - Net product sales in Q2 2024 were $184 million, down 37% from $293 million in Q2 2023[117]. - Net loss for Q2 2024 was $1.279 billion, a slight improvement of 7% from a net loss of $1.380 billion in Q2 2023[117]. - Total revenue for the first half of 2024 was $408 million, an 82% decrease from $2.206 billion in the first half of 2023[117]. - Net product sales for the first half of 2024 were $351 million, down 83% from $2.121 billion in the first half of 2023[117]. - The company reported a net loss of $2.5 billion for the six months ended June 30, 2024, compared to a net loss of $4.7 billion for the year ended 2023[147]. Research and Development - The company has a diverse pipeline with 40 development candidates across 47 programs, with 43 currently in clinical studies[99]. - The FDA approved mRESVIA (mRNA-1345) for adults aged 60 and older, showing a vaccine efficacy of 83.7% against RSV lower respiratory tract disease in a Phase 3 trial involving approximately 37,000 adults[103]. - The next-generation COVID-19 vaccine candidate (mRNA-1283) demonstrated non-inferior efficacy compared to Spikevax in a Phase 3 trial for participants aged 12 and older[108]. - A combination vaccine candidate against influenza and COVID-19 (mRNA-1083) showed higher immune responses than licensed vaccines in adults aged 50 and older[110]. - The investigational therapy for Methylmalonic Acidemia (mRNA-3705) was selected for the FDA's START pilot program to expedite development for rare diseases[113]. - The company is actively enrolling in Phase 3 trials for mRNA-4157 (V940) in combination with KEYTRUDA for high-risk melanoma and non-small cell lung cancer[112]. Sales and Market Activity - The company commenced sales of its COVID-19 vaccine to the U.S. commercial market in Q3 2023, expanding its sales channels[120]. - The U.S. COVID-19 vaccine sales are primarily to wholesalers and distributors, with some sales to retailers and healthcare providers[120]. - Net product sales for the three and six months ended June 30, 2024, decreased by $109 million (37%) and $1.8 billion (83%), respectively, compared to the same periods in 2023, primarily due to lower sales volumes and the transition to a seasonal commercial pattern for the COVID-19 vaccine market[124]. Expenses and Cash Flow - Operating expenses for Q2 2024 totaled $1.604 billion, a reduction of 27% from $2.211 billion in Q2 2023[117]. - Research and development expenses increased by 6% to $1.221 billion in Q2 2024, compared to $1.148 billion in Q2 2023[117]. - Selling, general and administrative expenses decreased by $64 million (19%) for the three months ended June 30, 2024, compared to the same period in 2023, mainly due to reduced consulting and outside services[131]. - Cash, cash equivalents, and investments as of June 30, 2024, decreased by $2.5 billion (19%) compared to December 31, 2023, primarily due to a net cash outflow from operating activities[138]. - Net cash used in operating activities for the six months ended June 30, 2024 was $2.3 billion, an increase of $123 million, or 6%, compared to the same period in 2023[143][144]. - Net cash provided by investing activities was $1.8 billion, primarily from proceeds of $5.5 billion from maturities and sales of marketable securities[145]. - Net cash provided by financing activities increased by $1.3 billion, or 104%, to $48 million for the six months ended June 30, 2024[146]. Deferred Revenue and Taxation - Deferred revenue as of June 30, 2024, was $740 million, primarily associated with customer deposits for COVID-19 vaccine deliveries scheduled in 2024[122]. - The provision for income taxes increased by $369 million (100%) and $763 million (101%) for the three and six months ended June 30, 2024, compared to the same periods in 2023, due to taxable income from foreign subsidiaries[136]. - Deferred revenue related to customer deposits received or billable was $740 million as of June 30, 2024[142]. Future Outlook - The company anticipates significant future capital requirements for ongoing research and development activities, including new vaccine candidates and manufacturing costs[148]. - Cash, cash equivalents, and investments as of June 30, 2024, are expected to be sufficient to fund projected operations and capital expenditures for at least the next 12 months[149]. - The company experienced a decline in customer demand for its COVID-19 vaccine in 2023, continuing into the first half of 2024[149].

U.S. stocks traded lower toward the end of trading, with the Dow Jones index dipping more than 650 points on Thursday. The Dow traded down 1.61% to 40,184.39 while the NASDAQ fell 2.77% to 17,111.79. The S&P 500 also fell, dropping, 1.78% to 5,424.16. Leading and Lagging Sectors Utilities shares gained by 1.5% on Thursday. In trading on Thursday, information technology shares fell by 4%. Top Headline Moderna Inc MRNA stock dipped more than 20% on Thursday as the company lowered its 2024 sales guidance due t ...

Moderna, Inc. MRNA shares are getting hit because of a bad earnings report. The Street didn't like the numbers. The shares have broken a support level and may form a new downtrend. This is why Moderna is our Stock of the Day. If a stock is trending lower, there is more supply than demand. There aren't enough buy orders to absorb all of the sell orders. The market is out of equilibrium. If the stock reaches support, the dynamics change. There is enough demand to absorb the supply. For every sell order, there ...