Moderna (MRNA) drops after announcing a $3.1 billion charge, partially due to Covid writedowns
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Moderna Reports Third Quarter 2023 Financial Results and Provides Business Updates
November 2, 2023 6:32 AM EDTThird quarter 2023 revenues of $1.8 billion; Company expects 2023 revenues of at least $6 billionSpikevax U.S. market share to date increased to 45% from 36% in 2022Company anticipates 2024 revenue of approximately $4 billion and return to growth in 2025Company has significantly improved future cost of sales by resizing its manufacturing capacity, contributing to a third quarter net loss of $3.6 billion, primarily driven by mostly non-cash charges of $3.1 billion related to resizing and a tax valuation allowanceCompany's late-stage pipeline has six Phase 3 programsCompany expects to... More
