- Moderna(MRNA) is rising on strong results for the second quarter of 2022.
- That includes beating out earnings per share and revenue estimates.
- The company also has four vaccines in Phase 3 clinical trials.
MRNA) research Coronavirus (Covid 19) vaccine. Row of vaccine bottles with blurred Moderna company logo on background.” width=”1600″ height=”900″ />Source: Carlos l Vives / Shutterstock.com
Moderna(NASDAQ:MRNA) stock is rising on Wednesday as the vaccine company reportsearnings for the second quarter of 2022.
The positive earnings report from Moderna starts with diluted earnings per share of $5.24. That’s well above the $4.55 per share that Wall Street was expecting this quarter — even if it is a drop from the $6.46 reported during the same time last year.
To go along with that, the Covid-19 vaccine maker reported revenue of $4.7 billion for Q2 2022. Yet again, that beats out the $4.07 billion that analysts were looking for during the quarter. It’s also an increase over the $4.4 billion reported during the same period of the year prior.
Stéphane Bancel, CEO of Moderna, said the following in the earnings report.
“Today’s earnings represent a strong second quarter performance, with $10.8 billion in revenue for the first half of the year. We continue to have advance purchase agreements for expected delivery in 2022 of around $21 billion of sales.”
MRNA Stock: More Vaccines Are on the Way
Moderna also notes that its development pipeline is strong with four vaccines for infectious diseases in Phase 3 clinical trials. It also expects “important data from proof-of-concept studies in rare diseases and immuno-oncology,” later this year.
MRNA stock is up 10.6% as of Wednesday morning but is still down 24.4% since the start of the year.
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