Moderna posts surprise profit as COVID vaccine sales exceed expectations
Moderna reported a surprising third-quarter profit on Thursday, driven by cost reductions and stronger-than-expected sales of its COVID-19 vaccine, despite lower-than-anticipated revenue from its new respiratory syncytial virus (RSV) vaccine. Shares of the Cambridge, Massachusetts-based company jumped 11% in premarket trading.For the quarter, Moderna posted a profit of $13 million,…
November 7, 2024