MRNA) is scheduled to report its second-quarter results Wednesday ahead of the market open.
The consensus estimate calls for revenue of $27.43 million, more than double last year’s $13.08-million figure. Moderna receives its revenues from collaboration and grants, given that it is yet to have a commercial product in the market.
At the end of the first quarter, the company had cash and investments of about $1.7 billion.
The company guided in May that it expects net cash used in operating activities and for the purchase of property and equipment to be about $500 million in 2020.
initiated a Phase 3 study of the vaccine candidate in late July.” data-reactid=”28″>Coronavirus Vaccine Candidate: It is less likely that Moderna issues any fresh update on its coronavirus vaccine candidate, mRNA-1273. The company initiated a Phase 3 study of the vaccine candidate in late July.
Jefferies analyst Michael Yee said in a Monday note.” data-reactid=”29″>Moderna is likely to report a preliminary Phase 2 reading by late October, Jefferies analyst Michael Yee said in a Monday note.
Even as most big pharma coronavirus vaccine makers are announcing supply agreements with governments, Moderna has not yet made such a deal.
View more earnings on MRNA” data-reactid=”31″>View more earnings on MRNA
“Investors are increasingly curious as to when MRNA will announce an agreement to supply vaccine to the government, and we expect this will be a key focus of the upcoming earnings call on August 5th,” SVB Leerink analyst Mani Foroohar said in a note.
The company might also be probed on potential pricing amid reports that it is targeting pricing in the $50-$60 range, significantly above rival vaccine developers.
The company has 23 mRNA development candidates in its portfolio, with 13 in clinical trials for indications such as infectious diseases, oncology and rare diseases.
Jefferies has a Buy rating and $90 price target for Moderna shares, while SVB Leerink rates Moderna shares a Market Perform with a $42 price target.
The stock was down 1.1% at $77.12 at last check Tuesday.
The Week Ahead In Biotech: Novavax Coronavirus Vaccine Readout, FDA Decisions And More Earnings ” data-reactid=”39″>The Week Ahead In Biotech: Novavax Coronavirus Vaccine Readout, FDA Decisions And More Earnings
Latest Ratings for MRNA
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Jul 2020 | SVB Leerink | Initiates Coverage On | Market Perform | |
| Jul 2020 | JP Morgan | Downgrades | Overweight | Neutral |
| Jul 2020 | Chardan Capital | Maintains | Buy |
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