Popular Stories

Moderna Posts Q2 Beat, Closes In On Coronavirus Vaccine Deal With Swiss Government

reporting forecast-beating second-quarter results and reports of a potential deal with the Swiss government.” data-reactid=”19″>Moderna Inc (NASDAQ: MRNA) shares were moving to the downside Wednesday despite the coronavirus vaccine developer reporting forecast-beating second-quarter results and reports of a potential deal with the Swiss government.

AZN) and incremental BARDA funding.

The loss per share narrowed from 41 cents to 31 cents, despite R&D expenses climbing about 18%. The Street was expecting a loss of 35 cents per share. 

The company ended the quarter with cash, cash equivalents and investments of about $3.1 billion. Moderna raised $1.3 billion in net proceeds with a public equity offering in May.

coronavirus vaccine candidate, mRNA-1273.” data-reactid=”28″>Moderna said it has received about $400 million in customer deposits as of July 31 for potential supply of its coronavirus vaccine candidate, mRNA-1273.

sign up for our coronavirus newsletter.” data-reactid=”29″>Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.

“We continue to expect larger volume government contracts to drive most revenue in the pandemic period, and that these large contracts will present an economically [attractive] value to MRNA shares on a contribution margin basis, regardless of somewhat lower headline price,” the analyst said. 

View more earnings on MRNA” data-reactid=”32″>View more earnings on MRNA

The risk of increasing competitive intensity could impact demand, he said. 

Moderna said its base case assumes a supply of 500 million doses of the vaccine per year, with annual capacity of 1 billion doses in an upside scenario, Foroohar said. 

The Phase 1 data from elderly patients treated with mRNA-1273 is likely to be released in the upcoming weeks, the analyst said.

Reuters report said, citing a government official.” data-reactid=”36″>A Deal In The Making: Moderna is close to striking a coronavirus vaccine supply agreement with the Swiss government, a Reuters report said, citing a government official.

“We are only a few hours away from completing a purchase contract. With this contract we will get it very quickly,” the official reportedly said.

The official did not disclose the financial terms of the deal, Reuters said.

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

View Article Origin Here

Related Articles

Back to top button