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Moderna | 8-K: Moderna Reports Fourth Quarter and Fiscal Year 2023 Financial Results and Provides Business Updates

SEC announcement ·  Feb 22 06:36
Summary by Moomoo AI
On February 22, 2024, Moderna, Inc. reported its financial results for the fourth quarter and the full fiscal year of 2023. The company announced a fourth-quarter revenue of $2.8 billion, a decrease from the previous year's $5.1 billion, primarily due to reduced COVID-19 vaccine sales. Despite this, Moderna posted a GAAP net income of $217 million and a diluted EPS of $0.55 for the quarter. For the full year, revenues were $6.8 billion with a GAAP net loss of $(4.7) billion and a diluted EPS of $(12.33), largely impacted by non-cash charges and a tax valuation allowance. Moderna reaffirmed its 2024 product sales forecast of approximately $4 billion and expects regulatory approvals for its RSV vaccine for older adults in the first half of 2024. The company also anticipates key...Show More
On February 22, 2024, Moderna, Inc. reported its financial results for the fourth quarter and the full fiscal year of 2023. The company announced a fourth-quarter revenue of $2.8 billion, a decrease from the previous year's $5.1 billion, primarily due to reduced COVID-19 vaccine sales. Despite this, Moderna posted a GAAP net income of $217 million and a diluted EPS of $0.55 for the quarter. For the full year, revenues were $6.8 billion with a GAAP net loss of $(4.7) billion and a diluted EPS of $(12.33), largely impacted by non-cash charges and a tax valuation allowance. Moderna reaffirmed its 2024 product sales forecast of approximately $4 billion and expects regulatory approvals for its RSV vaccine for older adults in the first half of 2024. The company also anticipates key milestones from its late-stage pipeline this year. The financial results reflect a year of transition as Moderna adapts to the endemic market, with significant pipeline advancements across various sectors and increased COVID-19 market share in the U.S. Moderna's CEO, Stéphane Bancel, emphasized the company's focus on commercial execution and continued investment in the pipeline with financial discipline.

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