AI English summary of an SEC filing — figures as filed
Moderna MRNAModerna said it recognized net product sales of $184 million from its COVID-19 vaccine for Q2 2024, and Q2 2023 net product sales were $293 million. Net loss per share was $(3.33), compared with $(3.62) for the same quarter a year earlier.
Key points
AI summaryModerna said it recognized net product sales of $184 million from its COVID-19 vaccine for Q2 2024, and Q2 2023 net product sales were $293 million. Net loss per share was $(3.33), compared with $(3.62) for the same quarter a year earlier.
The company said net product sales fell $109 million (37%) over 3 months and $1.8 billion (83%) over 6 months. It cited lower sales volumes outside the United States and the shift of the COVID-19 vaccine market to a seasonal commercial pattern as factors.
Moderna said cost of sales for Q2 2024 was $115 million, down $616 million (84%) from the same quarter a year earlier. Research and development expenses rose $73 million (6%) in the same quarter, and the company cited the purchase of a priority review voucher and higher personnel-related costs and stock-based compensation $101 million as factors.
The company said cash, cash equivalents and investments as of June 30, 2024 were $2.5 billion (19%) lower than on December 31, 2023. It attributed the decline mainly to net cash used in operating activities of $2.3 billion over the 6 months and purchases of property and equipment of $378 million.
Key figures
Quarter ended June 30, 2024
- Revenue
- $241M
- Operating income
- −$1.4B
- Net income
- −$1.3B
- EPS
- −$3.33
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
Moderna net product sales for Q2 2024 $184 million
Moderna said it recognized net product sales of $184 million from its COVID-19 vaccine for Q2 2024, and Q2 2023 net product sales were $293 million. Net loss per share was $(3.33), compared with $(3.62) for the same quarter a year earlier.
Source · Based on the MD&A text of the filing
Net product sales decline and company explanation
The company said net product sales fell $109 million (37%) over 3 months and $1.8 billion (83%) over 6 months. It cited lower sales volumes outside the United States and the shift of the COVID-19 vaccine market to a seasonal commercial pattern as factors.
Source · Based on the MD&A text of the filing
Changes in cost of sales and research and development
Moderna said cost of sales for Q2 2024 was $115 million, down $616 million (84%) from the same quarter a year earlier. Research and development expenses rose $73 million (6%) in the same quarter, and the company cited the purchase of a priority review voucher and higher personnel-related costs and stock-based compensation $101 million as factors.
Source · Based on the MD&A text of the filing
Operating cash flow and cash decline over 6 months
The company said cash, cash equivalents and investments as of June 30, 2024 were $2.5 billion (19%) lower than on December 31, 2023. It attributed the decline mainly to net cash used in operating activities of $2.3 billion over the 6 months and purchases of property and equipment of $378 million.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
You can verify the report’s figures and statements in the original filing on SEC EDGAR.