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Moderna on Thursday posted a narrower-than-expected loss for the first quarter as the company's cost-cutting efforts took hold and sales of its Covid vaccine, its only commercially available product, topped estimates. The biotech company booked first-quarter sales of $167 million, with revenue from its Covid shot dropping roughly 90% from the same period a year ago. The company reiterated its full-year 2024 sales guidance of roughly $4 billion, which includes revenue from its RSV vaccine. For the first quarter, Mock said the company is "more encouraged by what we're seeing from a productivity perspective" than the higher sales of its Covid vaccine. Cost of sales was $96 million for the fourth quarter, down 88% from the same period a year ago.
Persons: we've, Stéphane Bancel, Jamey Mock, Mock, OpenAI Organizations: Moderna, LSEG, CNBC, Research, Mock, Merck Locations: Moderna, U.S, America
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailModerna CEO Stephane Bancel on Q1 results: The vaccine platform is coming together very nicelyModerna CEO Stephane Bancel joins 'Squawk Box' to discuss the company's quarterly earnings results, which posted a narrower-than-expected loss for the first quarter as the company’s cost-cutting efforts took hold and sales of its Covid vaccine topped estimates, vaccine pipeline, growth outlook, and more.
Persons: Stephane Bancel Organizations: Email Moderna
Moderna has more to offer beyond its Covid vaccine. The update brings Moderna a step closer to having multiple products on the market, which it badly needs amid plunging demand for Covid shots worldwide. Moderna will chart its post-Covid future Wednesday during its fifth annual "Vaccines Day," an investor event in Boston focused on the company's vaccine portfolio. That includes its combination vaccine against Covid and the flu and a shot against another common herpes virus called cytomegalovirus, or CMV. It also includes a new and improved version of Moderna's Covid shot.
Persons: norovirus, Barr, Moderna, Blackstone, Stéphane Bancel Organizations: Moderna, Epstein, Covid, Blackstone Life Sciences, Blackstone Group Locations: Boston, U.S
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailModerna CEO on vaccines pipeline: Investing aggressively to bring important medicine to patientsModerna CEO Stephane Bancel joins 'Squawk Box' to discuss the company's annual vaccines day, the announcement of multiple vaccine programs advancing to late-stage clinical trials, Moderna's vaccines pipeline outlook, and more.
Persons: Stephane Bancel Organizations: Email Moderna
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailModerna CEO Stephane Bancel on Q4 results: There is so much more to Moderna than CovidModerna CEO Stephane Bancel joins 'Squawk Box' to discuss the company's quarterly earnings results, which posted a surprise quarterly profit, boosted by deferred revenue and cost cuts even as the company saw slumping sales from its Covid vaccine, what's in the company's drug pipeline, growth outlook, and more.
Persons: Stephane Bancel Organizations: Email Moderna, Covid Moderna Locations: Moderna
Cramer's Lighting Round: 'Hold on to' BioNTech
  + stars: | 2024-01-16 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Amphastar's year-to-date stock performance. Stock Chart Icon Stock chart icon Moderna's year-to-date stock performance. Stock Chart Icon Stock chart icon BioNTech's year-to-date stock performance. Stock Chart Icon Stock chart icon Pan American Silver's year-to-date stock performance. Stock Chart Icon Stock chart icon Lockheed Martin's year-to-date stock performance.
Persons: Becton Dickinson, let's, Stephane Bancel, Lockheed Martin, Barry Sternlicht Organizations: Pan, Lockheed, Starwood, Starwood Property Locations: Moderna
Moderna CEO Stephane Bancel on Q3 results
  + stars: | 2023-11-02 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailModerna CEO Stephane Bancel on Q3 resultsModerna CEO Stephane Bancel joins 'Squawk Box' to discuss the company's quarterly earnings results, and more.
Persons: Stephane Bancel Organizations: Email Moderna
Moderna on Thursday posted a steep loss for the third quarter as the drugmaker recorded a large write-down due to unused doses of its Covid vaccine, its only marketable product. Revenue: $1.83 billion vs. $1.40 billion expectedShares of Moderna fell more than 10% in premarket trading Thursday. Moderna posted a net loss of $3.63 billion, or $9.53 per share, for the quarter. The biotech company generated third-quarter sales of $1.83 billion, with sales of its Covid shot dropping 44% from the same period a year ago. In August, Moderna said it expected its shot to rake in $6 billion to $8 billion in revenue in 2023.
Persons: Stéphane Bancel, Bancel, Moderna Organizations: Moderna, LSEG, Revenue Locations: U.S
Moderna on Tuesday announced that its combination shot for flu and COVID-19 is the first candidate to make it to late-stage trial. It “offers greater convenience and has the potential to lead to increased compliance with vaccine recommendations,” it added. The shots won’t be available for this respiratory virus season, as Moderna said it is targeting regulatory approval for the shot in 2025. Moderna earlier this month announced positive data from its earlier studies of the combo shot, finding that it produced an immune response similar to or greater than licensed flu shots and Moderna’s bivalent COVID-19 shot. “We are excited to move combination respiratory vaccines into Phase 3 development and look forward to partnering with public health officials to address the significant seasonal threat posed to people by these viruses.”
Persons: , Moderna, bivalent, Stéphane Bancel Organizations: Moderna, Tuesday, Northern Hemisphere, Disease Control, ” Moderna Locations: Moderna
Moderna on Wednesday said its combination vaccine targeting Covid and the flu will move to a final stage trial in adults ages 50 and above this year after showing positive results in an early to mid-stage study. The trial evaluated the combination shot in two different age groups: people 50 to 64 years of age and participants 65 to 79. The safety data of mRNA-1083 was similar to that of the stand-alone Covid shot, according to Moderna. No new safety concerns were identified with the combination vaccine. Moderna is also developing a combination shot targeting the flu and RSV, and another vaccine targeting all three respiratory viruses: Covid, flu and RSV.
Persons: Stéphane Bancel, BioNTech Organizations: Moderna, Pfizer, GlaxoSmithKline Locations: Moderna
Wednesday's results are also a sigh of relief for Moderna after the company pushed back its experimental flu shot program in April. Moderna compared the flu vaccine, dubbed mRNA-1010, to a currently approved seasonal flu vaccine from GlaxoSmithKline called Fluarix. Moderna's flu shot also generated higher seroconversion rates, which refers to the development of specific antibodies against a virus. Also on Wednesday, Moderna said it is ending a separate phase three trial on the first version of its flu vaccine. "With today's positive phase 3 flu results, along with previous results in Covid and RSV, we are now three for three on advancing respiratory disease programs to positive phase 3 data."
Persons: Moderna, Stephane Bancel Organizations: Moderna, U.S, GlaxoSmithKline, World Health Organization –, Food and Drug Administration, FDA, Pfizer, GSK Locations: Moderna, Covid
The Food and Drug Administration on Monday approved updated Covid vaccines from Pfizer and Moderna , putting the shots on track to reach Americans within days as U.S. hospitalizations from the virus rise. The updated vaccines from Pfizer and Moderna won't be available to Americans just yet. The Biden administration said in August that it expects new single-strain vaccines from Pfizer, Moderna and Novavax targeting XBB.1.5 to be available to the public in mid-September. The upcoming arrival of updated vaccines offers some reassurance to Americans as the nation sees an increase in Covid cases and hospitalizations. Bourla and Moderna CEO Stéphane Bancel, in a separate statement, urged Americans to receive their updated Covid shot during the same appointment as their annual flu shot.
Persons: Biden, Pfizer's, Albert Bourla, Stéphane Bancel, hospitalizations Organizations: Pfizer, BioNTech, Peabody Institute Library, Drug Administration, Moderna, FDA, CDC, Covid, EG Locations: Peabody , Massachusetts, U.S
Billionaires and CEOs have dumped $9 billion in stock this year. Many of those sales have been concentrated in the tech sector amid Wall Street's frenzy over AI. Executives have cashed in on the rally as the S&P 500 recovers from a dismal 2022 performance. Meanwhile, AirBnB co-founder Joe Gebbia sold off $893 million of his company's stock during the first half. Oracle CEO Safra Catz also trimmed her holdings of the company, selling $470 million worth of the company's stock.
Persons: Walton, AirBnB, Joe Gebbia, Larry Ellison, Safra Catz, Salesforce's Marc Benioff, Stephane Bancel, Josh Harris Organizations: Service, CNBC, Walmart, Sam's, Oracle, Moderna, Apollo, Vanda Research Locations: Wall, Silicon
Companies Moderna Inc FollowSHANGHAI, July 5 (Reuters) - Vaccine maker Moderna Inc (MRNA.O) said on Wednesday it had signed a memorandum of understanding and a land collaboration agreement to work towards opportunities for it to research, develop and manufacture mRNA medicines in China. Moderna said in May it was looking for opportunities in China after registering a legal entity in the world's second-largest economy. The company prior to this had no presence in mainland China. Its expansion into mainland China comes as its revenue growth slows sharply due to waning global demand for its COVID-19 vaccine, the U.S. company's only approved product. Those vaccines, based on the same mRNA platform as its COVID shot, have yet to be filed for regulatory approval decisions.
Persons: Stéphane Bancel, Brenda Goh, Andrew Heavens, Louise Heavens Organizations: Moderna Inc, Reuters, Moderna, Thomson Locations: China, Shanghai, Moderna, Hong Kong, Asia, U.S, Beijing
Moderna on Wednesday said it struck a deal with Chinese officials to research, develop and manufacture messenger RNA medicines in the country, despite rising tensions between the U.S. and China. The Massachusetts-based biotech company signed a memorandum of understanding and a related land collaboration deal to develop drugs that will "be exclusively for the Chinese people" and won't "be exported," a Moderna spokesperson told CNBC. The Moderna spokesperson did not confirm the report or comment on the size of the deal. Moderna in May said it was keen to sell its mRNA Covid vaccine to China after registering a legal entity in the world's second-largest economy. The country has also struggled to develop mRNA technology at home during the pandemic.
Persons: Stéphane Bancel, It's, drugmakers, Biden Organizations: Moderna, U.S, CNBC, The Moderna, Pfizer, China's Ministry of Commerce, AstraZeneca, Novo Nordisk, Merck, Sanofi, GE HealthCare Technologies Locations: China, The Massachusetts, Shanghai, Japan, Canada, Australia, Kenya, Beijing, New York
Moderna on Thursday applied for U.S. Food and Drug Administration approval of the biotech company's updated Covid vaccine for the fall. Moderna and rivals Pfize r and Novavax already began to develop versions of their vaccines targeting XBB.1.5 months before the FDA's recommendation. Clinical trial data on more than 100 people similarly demonstrates the monovalent XBB.1.5 vaccine produces protective antibodies against all XBB variants. All trial participants had previously received four Covid vaccine doses. The U.S. is expected to shift Covid vaccine distribution to the private sector as soon as the fall.
Persons: Moderna's, Stéphane Bancel Organizations: U.S . Food, Drug Administration, Moderna, . Food, Drug, FDA, Pfizer, Novavax, Moderna's, Centers for Disease Control Locations: U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailModerna CEO Stéphane Bancel on surprise Q1 profit, post-Covid futureModerna CEO Stéphane Bancel joins 'Squawk Box' to discuss the company's quarterly earnings results, what's next for the biotech company in a post-Covid future, and more.
Moderna on Thursday blew past estimates for first-quarter earnings and revenue, posting a surprise quarterly profit, despite lower demand for Covid vaccines, its only marketable product. The biotech company generated first-quarter sales of $1.9 billion, driven by Covid shot revenue deferred from 2022. Moderna maintained its full-year guidance of around $5 billion in revenue from its Covid vaccine, which will come from signed government contracts for the shot. But Covid shot demand is still falling as the pandemic eases and the U.S. shifts to an annual vaccination schedule rather than repeated booster doses. Moderna in April said it hopes to offer a new set of life-saving vaccines targeting cancer, heart disease and other conditions by 2030.
Watch CNBC's full interview with Moderna CEO Stéphane Bancel
  + stars: | 2023-05-04 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Moderna CEO Stéphane BancelModerna CEO Stéphane Bancel joins 'Squawk Box' to discuss the company's quarterly earnings results, what's next for the biotech company in a post-Covid future, and more.
French businessman Stéphane Bancel made $393 million in stock options in 2022, according to securities filings. Bancel, 50, also owns stocks valued around at least $2.8 billion, and received a 50% raise from 2021 to 2022. Moderna's chief executive officer Stéphane Bancel raked in about $393 million in 2022 thanks to stock options, and then received a raise on top of it — compensation that's giving some analysts pause. In addition to exercising his stock options in 2022, 50-year-old Bancel earned a $1.5 million salary — a 50% jump from 2021, according to securities filings from March. Meanwhile, Amazon CEO Andy Jassy's pay dropped from $212 million in 2021 to $1.3 million in 2022 due to receiving any stock awards.
Moderna CEO Stephane Bancel sits down one-on-one with Jim CramerStephane Bancel, CEO of Moderna, joins "Mad Money" host Jim Cramer to discuss the company's goals to expand vaccine production for multiple illnesses.
Moderna and IBM are teaming up to use generative artificial intelligence and quantum computing to advance mRNA technology, the development at the core of the company's blockbuster Covid vaccine, the companies announced Thursday. The companies said they signed an agreement for Moderna to access IBM's quantum computing systems. IBM will also provide experts who can help Moderna scientists explore the use of quantum technologies, the companies added. Unlike traditional computers, which store information as either zeroes or ones, Quantum computing hinges on quantum physics. The companies said Moderna will use IBM's model to understand "the characteristics of potential mRNA medicines" and design a new class of vaccines and therapies.
Bernie Sanders Holds a Moderna Show Trial
  + stars: | 2023-03-22 | by ( The Editorial Board | ) www.wsj.com   time to read: 1 min
No good treatment goes unpunished for pharmaceutical companies these days, and Bernie Sanders will offer another example on Wednesday when he holds a political show trial of Moderna CEO Stéphane Bancel . His offense? Cooperating with the government to produce life-saving Covid vaccines. The subject of the Vermont Senator’s hearing is Moderna’s plan to quadruple the price of its Covid vaccine to $110 to $130 per dose when U.S. government purchases stop. Pfizer has said it will charge a similar price after vaccines move to the commercial market, which is expected later this year.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSen. Bernie Sanders grills Moderna CEO over Covid vaccine prices during hearingCNBC's Meg Tirrell reports on the Senate hearing on drug prices, which featured an exchange between Sen. Bernie Sanders and Moderna CEO Stéphane Bancel.
Moderna plans to raise the list price of its vaccine 400% to $130 when the shots are sold on the private market as early as this fall. Moderna CEO Stephane Bancel on Wednesday defended the company's plans to hike the price of its Covid shots fivefold, deflecting pressure at a Senate hearing to abandon the increase while taking barbs over his compensation. Chairman Bernie Sanders, I-Vt., questions Stephane Bancel, CEO of Moderna, during the Senate Health, Education, Labor and Pensions Committee hearing titled Taxpayers Paid Billions For It: So Why Would Moderna Consider Quadrupling the Price of the COVID Vaccine? He told the committee that the Covid vaccine market is changing substantially as the U.S. government stops buying and distributing the shots for the entire country. The Covid vaccine remains Moderna's only product on the market at the moment.
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