NewsModerna Stock Increases Despite Drop In COVID Vaccine Demand

Moderna Stock Increases Despite Drop In COVID Vaccine Demand

Looks like Moderna has things figured out….

Moderna announced an increase in stock following first-quarter earnings reported that its only commercially available Covid vaccine exceeded estimates.

The results come slightly before the biotech company plans to release another product as the demand for COVID-19 vaccines continues to decrease worldwide. The company is anticipating U.S. approval for an RSV—also known as respiratory syncytial virus—vaccine on May 12. If cleared, the shot will launch in the third quarter. 

Moderna shares grew over 6% on May 2 following the results. 

Mock said the company is “more encouraged by what we’re seeing from a productivity perspective” in the first quarter than the higher sales of its COVID-19 vaccine. However, they hope sales will pick up after the RSV vaccine rollout. Their goal is to “build upon the success of its commercial efforts in the fall COVID-19 market.”

“This is the start of a banner year for our vaccine platform as we continue to advance mRNA medicines for patients,” Bancel said. 

“This is just the beginning.”

Source: Black Enterprise

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