Moderna Reports Unexpected Profit on Strong COVID Vaccine Sales

Cost-cutting measures and robust demand for its COVID vaccine have propelled Moderna to a surprising third-quarter profit.

Moderna posted a net income of $13 million for the third quarter, defying analyst expectations of a significant loss.
The company's COVID vaccine, Spikevax, generated $1.8 billion in sales, surpassing forecasts and benefiting from an earlier U.S. launch.
Sales of Moderna's new RSV vaccine fell short at $10 million, as the product entered the market late in the contracting season.
Moderna aims to achieve $1.1 billion in savings by 2027 through expense reductions and strategic adjustments.
The biotech firm plans to file for approval of its next-generation COVID and combination COVID-flu vaccines by year-end.