Moderna narrowed its second-quarter net loss to $782 million, or $1.97 a share, from $825 million, or $2.13 a share, a year earlier, the company said.
Analysts polled by FactSet had projected a per-share loss of $2.03, according to The Wall Street Journal
In premarket trading Friday, Moderna’s stock price dropped to $54.61, a decline of about 5.7%. The decline came after Moderna said its norovirus vaccine candidate, mRNA-1403, did not meet statistical criteria for early success at a Phase 3 interim analysis. “The trial is ongoing and remains blinded as the Company works toward enrolling an additional cohort,” Moderna said in a statement. “The second quarter marked another period of strong execution for Moderna as we advanced our pipeline and strengthened our financial profile with an improved 2026 operating expense outlook,” Chief Executive Stéphane Bancel said in a statement. Total revenue for the quarter rose to $145 million from $142 million a year earlier, the company said.
Moderna attributed the increase to deliveries under a long-term government partnership in the U.K. that offset lower COVID-19 vaccine sales in the U.S. and South America. Cost of sales fell 22% to $93 million, while research and development expenses dropped 7% to $651 million and selling, general and administrative expenses declined 6% to $216 million, according to the company’s earnings release. As of June 30, Moderna held $6.9 billion in cash, cash equivalents, and investments.