Moderna unveils new booster; sees higher H2 sales amid endemic COVID-19
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Announcing Q4 2021 results on Thursday, Moderna (NASDAQ:MRNA) unveiled a new bivalent booster candidate called mRNA-1273.214 which combines Omicron-specific booster candidate, mRNA-1273.529 with its blockbuster COVID-19 shot mRNA-1273.
Despite a strong beat with its Q4 2021 financials and a newly announced $3B worth of share buyback program, Moderna (MRNA) shares are currently trading ~3% lower in the pre-market.
Quarterly revenue reached $7.2B after the sales of 297M of vaccine doses that generated $6.9B product sales.
Meanwhile, driven by the sale of 807M vaccine doses, full-year revenue climbed to $18.5B from $803M in the previous year as the company began to record the vaccine sales after its U.S. regulator nod in Dec. 2020.
Meanwhile, the cost of sales witnessed a sequential improvement to reach $952M or ~14% of product sales from 18% in Q2 2021. R&D costs dropped ~15% YoY to $648M, and net income for the quarter and 2021 stood at $4.9B and $12.2B, respectively.
Currently, Moderna (MRNA) has signed 2022 Advanced Purchase Agreements (APAs) for $19B worth of product sales and nearly $3B of options. The company expects COVID-19 to reach endemic status in 2022, leading to a larger sales impact in H2 2022 than in the first half.
Coinciding with a selloff among COVID-19 vaccine makers, Moderna (MRNA) has lost more than 40% of value in this year so far, as shown in this graph.