Moderna, $MRNA stock, rose 4% on August 4, 2022, after reports circulated that Biden would declare Monkeypox a public health emergency.
ABC News is running stories about a public outcry for an mRNA vaccine for Monkeypox.
Moderna backs advance purchase agreements for expected delivery in 2022 of $21B
On August 3, 2022, “Moderna’s APAs for product sales for which we expect to make delivery in 2022 are approximately $21 billion. This includes the recently announced agreement with the U.S. government for 70 million doses (option for 4 million pediatric doses has been exercised) and an adjustment for doses that remain unallocated by COVAX due to lack of demand. Moderna anticipates that for sales in the second half, sales will be greater in the fourth quarter than the third quarter, driven by the timing for approval of our updated COVID-19 vaccines and the related manufacturing ramp-up of new products.”
Moderna announces new $3B share repurchase plan
On August 3, 2022, Moderna announced a new $3 billion stock buyback plan.
Moderna Reports Second Quarter 2022 Financial Results and Provides Business Updates
On August 3, 2022, Moderna reported financial results and provided business updates for the second quarter of the fiscal year 2022. Moderna reported Q2 GAAP EPS of $5.24 versus the consensus estimate of $4.55. The company reported Q2 revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... of $4.7B versus the consensus estimate of $4.07B.
“Today’s earnings represent a strong second quarter performance, with $10.8 billion in revenue for the first half of the year. We continue to have advance purchase agreements for expected delivery in 2022 of around $21 billion of sales. Given our strong financial position and commercial momentum, we are announcing today that the Board of Directors has approved a new share repurchase program for $3 billion,” said Stéphane Bancel, Chief Executive Officer of Moderna. “Despite the slowing economy and challenges in the biotech industry, Moderna is in a unique position: a platform to drive scale and speed in research of new medicines, a strong balance sheetThe balance sheet is a snapshot of a company's financial position at a specific point in time. It shows the company's assets, liabilities, and equity. with $18 billion of cash, and an agile, mission-driven team of over 3,400 people and growing. We will continue to invest and grow as we have never been as optimistic about Moderna’s future. Right now, we have four infectious disease vaccines in Phase 3 trials, and later this year, we expect important data from proof-of-concept studies in rare diseases and immuno-oncology. Our teams are actively working to prepare these new product launches to help patients and drive growth. This is an exciting time for Moderna as we continue to see significant scientific and business momentum.”
Moderna enters contract with U.S. government for 66M COVID-19 booster doses
On July 29, 2022, Moderna announced that the U.S. government had bought 66 million doses of a Moderna COVID-19 vaccine booster candidate, mRNA-1273.222, a bivalent booster candidate containing Spikevax plus the Omicron BA.4/5 strain mRNA. The contract includes an award of up to $1.74 billion for the manufacture and delivery of 66 million doses of mRNA-1273.222 and options to purchase up to an additional 234 million doses of COVID-19 vaccine booster candidates from Moderna.
📺 Moderna CEO: ‘We are seeing very strong’ vaccine demand
📈 Moderna $MRNA Chart
Moderna $MRNA stock is in a weak technical uptrend. The uptrend has strengthened over the short-term outlook and favors maintaining the current direction.