Moderna Reports Third Quarter Profit Driven by Reduced R&D Spending
Moderna (MRNA) reported a third-quarter profit of $162 million, marking a significant turnaround from a $200 million loss in the same period last year. While revenue grew 29% to approximately $1.3 billion due to international COVID-19 vaccine sales under government contracts, the bottom-line improvement was largely driven by a 27% reduction in research and development expenses as late-stage infectious disease trials concluded. Despite the quarterly profit, the company maintains a cumulative loss of roughly $2 billion over the first nine months of the year. Investors are looking beyond current vaccine sales toward long-term growth drivers, specifically the success of intismeran—a cancer vaccine developed in partnership with Merck (MRK). A Phase 3 trial showed the vaccine reduced melanoma recurrence or death risk by 42% compared to Merck's standalone treatment.
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