A nurse fills up a syringe with the Moderna COVID-19 vaccine at a vaccination site at a senior center on March 29, 2021 in San Antonio, Texas.
Sergio Flores/Getty Images
Moderna reported better-than-expected earnings and said that its vaccine is more than 90% effective after six months, but that wasn’t enough to push the company’s stock, which has more than double during the past three months, higher.
Moderna reported a profit of $6.46 cents, beating forecasts for $6.04, on sales of $4.4 billion, ahead of expectations for $4.28 billion. Moderna also said it would buy back $1 billion worth of shares over the next two years.
Moderna offered an update on its Covid-19 vaccines. The was still 93% effective after six months, while trials show that its boosters appear to “demonstrate robust antibody responses” against variants. Moderna also said it’s preparing trials for vaccines against the flu and respiratory syncytial virus.
“I am proud of the progress our teams at Moderna have made in the past quarter in advancing our development pipeline while addressing a global pandemic and quickly establishing global manufacturing and commercial organizations,” Stéphane Bancel, Moderna’s CEO, said in a press release.
Shares of Moderna had dropped 0.5% to $417.02 in premarket trading Thursday, which should probably be considered a victory after it gained 141% over the past three months as Covid worries have built again.
