Moderna on Thursday posted a surprise profit for the third quarter, smashing Wall Street estimates, as its cost-cutting efforts took hold and sales of its Covid vaccine came in higher than expected.
Before year end, the company plans to file for approval of its experimental "next-generation" Covid vaccine and combination shot targeting Covid and the flu.
Moderna this year also expects to apply for expanded approval of its RSV vaccine, targeting high-risk adults ages 18 to 59.
"I think the earlier launch and a steeper ramp drove a much higher sales number" for the Covid vaccine, Moderna CEO Stéphane Bancel said in an interview.
Analysts had expected sales of $132 million for the RSV vaccine, according to estimates compiled by StreetAccount.
Persons:
Moderna, Stéphane Bancel, Bancel, StreetAccount, mull
Organizations:
Moderna, LSEG, Merck, Research
Locations:
U.S, Union, Norway, Iceland, Qatar, Europe