Moderna stock was rallying after a big earnings beat.
Eugene Hoshiko/POOL/AFP via Getty Images
stock was jumping after the maker of a Covid-19 vaccine’s earnings crushed analyst estimates.
Moderna reported a profit of $8.58 a share, easily topping analyst estimates for a profit of $5.37, on revenue of $6 billion, trouncing forecasts for $4.204 billion.
“The Moderna team delivered a strong Q1 performance and I am thankful for the progress our team continues to make as we advance our pipeline of mRNA medicines,” Moderna CEO Stéphane Bancel said in a press release.
Moderna stock has gained 5.3% in premarket trading Wednesday morning. Its shares have fallen 42% in 2022, more than three times the
Moderna recently said it would have its Covid vaccine for children under the age of six ready for FDA review by June.
Write to Ben Levisohn at firstname.lastname@example.org