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Nikos Pekiaridis | Nurphoto | Getty Images
Moderna on Thursday posted a narrower-than-expected loss for the first quarter as the company’s cost-cutting efforts took hold and sales of its Covid vaccine, its only commercially available product, topped estimates.
The results come as Moderna inches closer to putting another product on the market, which it badly needs as demand for Covid shots plunges worldwide. The biotech company expects U.S. approval for its vaccine against respiratory syncytial virus on May 12. If cleared, that shot is expected to launch in the third quarter.
Shares of Moderna closed more than 12% higher on Thursday following the results.
Here’s what Moderna reported for…
Source cnbc.com
