Moderna reported second-quarter revenue that beat estimates and a narrower than-expected loss for the period.
The company has started shipping doses of its vaccine for respiratory syncytial virus, called mRESVIA, in the U.S. following itsin May for older adults. It's Moderna's second-ever commercially available product after its Covid vaccine, which has seen demand plunge as the world emerges from the pandemic and relies less on protective shots and treatments.
But"some countries, as recently as of last week, have told us that because of a very tight budget … they just don't have the capacity to buy more vaccine than they need because they already have" another contract, Bancel said.BioNTech Moderna posted a net loss of $1.28 billion, or $3.33 per share, for the second quarter. That compares with a net loss of $1.38 billion, or $3.62 per share, reported for the year-ago period.
Cost of sales was $115 million, down 84% from the same period a year ago. That includes $14 million in write-downs of unused doses of the Covid vaccine and $55 million in charges related to the company's efforts to scale back its manufacturing footprint, among other costs.