Confirms FY guidance (Il Sole 24 Ore Radiocor) - New York, 02 May - The US pharmaceutical group Moderna said that in the first quarter it posted a net loss of 1.2 billion dollars against a profit of 79 million a year earlier as revenue fell to 167 million from 1.9 billion.

The decline was primarily due to reduced sales of the company's Covid-19 vaccine.

Cash, cash equivalents and investments as of March 31 were 12.2 billion dollars, compared to 13.3 billion as of December 31. The decrease in the cash position was largely attributable to research and development expenses and operating activities, it added.

Moderna reaffirmed its 2024 revenue guidance of approximately 4 billion dollars from its respiratory franchise, and now expects about 0.3 billion dollars in net sales in the first half of the year, reflecting the seasonality of the respiratory business.

Full-year research and development expenses are anticipated to be approximately 4.5 billion dollars. Selling, general and administrative expenses are projected to be approximately 1.3 billion dollars.

Year-end cash and investments for 2024 are forecast to be approximately 9 billion dollars, it added.

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(RADIOCOR) 02-05-24 13:20:27 (0339) 5 NNNN