Moderna Inc. sales rose 9% in the second quarter, but costs tied to a surplus of Covid-19 vaccine doses contributed to a profit decline.
The Cambridge, Mass.-based biotechnology company’s revenue came in at $4.75 billion in the period ended June 30, topping Wall Street analyst expectations, driven almost entirely by sales of its messenger RNA-based vaccine, branded as Spikevax.
Moderna Profit Falls Amid Charges for Unused Covid-19 Vaccines
Moderna Inc. sales rose 9% in the second quarter, but costs tied to a surplus of Covid-19 vaccine doses contributed to a profit decline.
The Cambridge, Mass.-based biotechnology company’s revenue came in at $4.75 billion in the period ended June 30, topping Wall Street analyst expectations, driven almost entirely by sales of its messenger RNA-based vaccine, branded as Spikevax.