Moderna's COVID-19 Vaccine Sales Decrease 91%

Moderna, Inc. today reported financial results and provided business updates for the first quarter of 2024.

On May 2, 2024, the Company reported $167 million in Spikevax® (COVID-19 vaccine) sales in the first quarter of 2024, compared to $1.9 billion in the same period in 2023, a decrease of 91%.

This sales decline aligns with the anticipated transition to a seasonal COVID-19 vaccine market.

"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, Chief Executive Officer of Moderna, in a press release.

"With ten late-stage programs and additional new programs advancing toward pivotal studies, we continue to expect numerous product milestones this year across our vaccines and therapeutics portfolio."

"This is the start of a banner year for our vaccine platform as we continue to advance mRNA medicines for patients. This is just the beginning."

A recent announcement of positive interim results from the NEXTCove Phase 3 trial showed that Moderna's next-generation COVID-19 vaccine (mRNA-1283) elicited a higher immune response against both the Omicron BA.4/BA.5 and original virus strains of SARS-CoV-2 compared to Moderna's licensed COVID-19 vaccine (mRNA-1273.222).

The next-generation vaccine is designed to be refrigerator-stable and paves the way for a combination vaccine against influenza and COVID-19 (mRNA-1083). The Company is engaging with regulators on the next steps.

And Moderna's Phase 3 trial of its combination vaccine against seasonal flu and COVID-19 (mRNA-1083) is fully enrolled. The Company anticipates data from the study in 2024.