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SEC.gov Updates: News DigestAug 05, 2020
3 - Walters Robert D. Jr. (0001816534) (Reporting)
2020-08-05 0001104659-20-091014 12 KB

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4 - DILLARD ALEX (0001180004) (Reporting) (SEC.gov Updates: News Digest)

Yahoo BusinessAug 05, 2020
Moderna Posts Q2 Beat, Closes In On Coronavirus Vaccine Deal With Swiss Government
Moderna Inc (NASDAQ: MRNA) shares were moving to the downside Wednesday despite the coronavirus vaccine developer reporting forecast-beating second-quarter results and reports of a potential deal with the Swiss government.Moderna's Q2 Report: Cambridge, Massachusetts-based Moderna said its second-quarter revenue increased from $13.1 million in 2019 to $66.4 million in 2020, exceeding the $27.43-million consensus estimate.The company attributed the higher revenue to increased collaboration revenues from AstraZeneca plc (NYSE: AZN) and incremental BARDA funding.The loss per share narrowed from 41 cents to 31 cents, despite R&D expenses climbing about 18%. The Street was expecting a loss of 35 cents per share. The company ended the quarter with cash, cash equivalents and investments of about $3.1 billion. Moderna raised $1.3 billion in net proceeds with a public equity offering in May.Moderna said it has received about $400 million in customer deposits as of July 31 for potential supply of its coronavirus vaccine candidate, mRNA-1273.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.Moderna Analyst Says Government Funding Key: On the earnings call, the company said it has executed smaller volume agreements for mRNA-1273 at $32-$37 per dose, and it expects to negotiate larger volume contracts at lower prices in the future, SVB Leerink analyst Mani Foroohar said in a note."We continue
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