Moderna Revises Its 2024 Expected Net Product Sales To $3B-$3.5B From Its Respiratory Franchise Compared To Prior Guidance Of $4B

Author: Benzinga Newsdesk | August 01, 2024 06:39am

For the second half of the year, it expects a sales split of 40-50% in the third quarter with the balance in the fourth quarter of 2024 subject to the timing of regulatory approvals. The update in product sales is driven by three primary factors: very low EU sales in 2024, potential revenue deferrals for certain international sales into 2025, and an increasingly competitive environment for respiratory vaccines in the U.S.

 

• Cost of Sales: Cost of sales is expected to be in the range of 40-50% of product sales for the year.
• Research and Development Expenses: Full-year 2024 research and development expenses are anticipated to be approximately $4.5 billion.
• Selling, General and Administrative Expenses: Selling, general and administrative expenses for 2024 are projected to be approximately $1.3 billion.
• Income Taxes: The Company continues to expect its full-year tax expense to be negligible.
• Capital Expenditures: Capital expenditures for 2024 are expected to be approximately $0.9 billion.
• Cash and Investments: Year-end cash and investments for 2024 are projected to be approximately $9 billion.
   

Posted In: MRNA