Moderna Inc (MRNA) witnessed a surge in its stock following its fourth-quarter 2023 financial report, which showcased robust revenues of $2.81 billion from its Spikevax (COVID-19 vaccine), surpassing consensus estimates. Despite a 43% year-on-year decline in net product sales, primarily due to lower sales volume, the company achieved $6.7 billion in vaccine sales for fiscal 2023, in line with its financial framework.
In addition to its strong performance in the U.S. retail segment, Moderna reported fourth-quarter earnings per share (EPS) of $0.55, exceeding analyst predictions. The company also outlined plans for its RSV vaccine (mRNA-1345), expecting initial regulatory approvals in the first half of 2024.
Looking ahead, Moderna reaffirmed its fiscal year 2024 product sales outlook and announced its expansion into key international markets, with plans to launch its RSV vaccine in Australia and Germany in 2024. Moreover, the company anticipates significant revenue from its respiratory franchise in 2024, alongside continued investment in research and development to drive innovation. As a result, MRNA shares rose by 7.57% to $94.22, reflecting investor confidence in the company’s growth prospects.
