Moderna(US:MRNA)2024-11-07 13:53Financial Performance - Moderna reported Q3 2024 revenue of $1.9 billion[6] - Net income for Q3 2024 was $13 million[6] - Cash and investments totaled $9.2 billion as of September 30, 2024, a decrease of $1.6 billion (15%) compared to June 30, 2024[6, 26] - Q3 2024 product sales reached $1.8 billion, with a year-to-date total of $2.2 billion[24] - The company expects $0.8 - $1.3 billion in product sales for Q4 2024 and reiterates expected 2024 product sales of $30 - $3.5 billion[24] - Operating expenses decreased by $1.9 billion (50%) from Q3 2023 to Q3 2024[25] COVID-19 Vaccine - Moderna's COVID vaccine approval was 19 days earlier in 2024 compared to 2023[8] - The company shipped 2x doses into the channel in the first week post-approval in 2024 vs 2023[8] - Moderna holds a 40% market share in the retail channel for the COVID vaccine season to date[9] RSV Vaccine - mRESVIA sales for Q3 2024 were $10 million[17] - The company anticipates a broader mRESVIA RSV label to include the 18-59 high-risk population[17] Pipeline and Future Outlook - Moderna intends to file for several respiratory vaccines in 2024, including next-generation COVID, RSV (18-59 HR), and combination Flu + COVID[32, 47] - The company aims for 10 product approvals over the next three years to drive sales growth[44, 47] - Moderna plans to reduce annual R&D expense by $1.1 billion starting in 2027, from a projected $4.8 billion for 2024 to $3.6-3.8 billion[44, 48]