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Investing.com -- Moderna (NASDAQ:MRNA) reported a narrower-than-expected quarterly loss on Thursday, while revenue missed Wall Street estimates.
The U.S. drugmaker reported a Q1 loss per share (EPS) of $2.52, better than the $3.18 loss per share expected by analysts. The company’s revenue plunged 35% year-over-year to $108 million, missing the consensus projection of $115.3 million.
Sales of its COVID-19 vaccine Spikevax totaled $84 million, ahead of the expected $75.67 million. Revenue from its RSV shot, mRESVIA, came in at $2 million, missing estimates of $3.3 million.
Operating expenses declined 19% year-over-year to $1.16 billion, coming in below the forecast of $1.41 billion.
"In the first quarter, we continued to execute with financial discipline, significantly reducing our operating expenses, and further prioritized our investments in oncology," said Stéphane Bancel, CEO of Moderna.
"With several Phase 3 readouts approaching and continued momentum toward 10 product approvals, we remain confident in Moderna’s long-term outlook," he added.
Moderna reaffirmed its 2025 revenue guidance of $1.5 billion to $2.5 billion, compared with the analyst consensus of $2.13 billion. It also maintained its capital expenditure outlook at around $400 million, versus the expected $366.9 million.
The company plans to reduce adjusted operating costs by up to $1.7 billion by 2027 and anticipates operating expenses for that year to range between $4.7 billion and $5 billion.