Why Moderna Stock Soared Today
Shares of Moderna (NASDAQ: MRNA) have soared today, up by 19% as of 12:45 p.m. EST, after the company reported fourth-quarter earnings results. The biotech missed revenue expectations but investors were excited that it has shipped its first batch of a vaccine for the coronavirus.
Revenue in the fourth quarter declined to $14.1 million, shy of the $17.4 million in sales that analysts were expecting. That resulted in a net loss of $124.2 million, or $0.37 per share, which was better than the consensus estimate of $0.42 per share in red ink. Moderna has shipped its clinical-grade batch of the novel coronavirus vaccine to the National Institutes of Health (NIH) for use in a phase 1 study in the U.S.
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Source Fool.com
