Moderna's Financial Performance Overview

Moderna Inc. announced a significant 65% decline in its fourth-quarter revenue for fiscal 2024, totaling $966 million, yet surpassing market expectations. This period also saw the company reporting a net loss of $1.1 billion, a stark contrast to the $217 million net income from the previous year.

Sales and Future Outlook

Despite the downturn, Moderna's Spikevax sales reached $923 million in the quarter. Looking ahead, CEO Stephane Bancel shared ambitious plans for cost reduction and anticipated approvals that could bolster the company's long-term growth, aiming to slash nearly $1 billion in costs by the end of 2025.

Stock Market Reaction

Following the announcement, Moderna's stock experienced a 3.67% drop in premarket trading, settling at $30.75 per share. This financial update comes as Moderna navigates through a challenging phase, with a full-year revenue decrease of 52% to $3.2 billion and a net loss of $3.5 billion.