Earnings

Moderna’s second-quarter revenue jumps fivefold on coronavirus vaccine development

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A sign marks the headquarters of Moderna Therapeutics, which is developing a vaccine against the coronavirus disease (COVID-19), in Cambridge, Massachusetts, May 18, 2020.

Brian Snyder | Reuters

Moderna reported Wednesday a fivefold increase in second-quarter revenue as the company pursues one of the nation’s leading vaccine candidates to fight Covid-19.

Revenue jumped to $66.4 million during the quarter, more than five times the $13.1 million it took in during the same period last year and higher than the $27.4 million projected by analysts surveyed by Refinitiv. The company narrowed its second-quarter loss to $116.7 million, or 31 cents a share, from $134.9 million, or 41 cents a share…



Source cnbc.com

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