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Modern (NASDAQ:mRNA) is scheduled to release its fourth-quarter 2023 results before the opening bell on Thursday, as investors closely watch how the COVID-19 vaccine maker will chart its post-COVID growth narrative amid a rapid decline in income.
The biotechnology company and other companies based in Cambridge, Massachusetts COVID-19 vaccine makers are seeing a sharp drop in revenue as the pandemic's impact on public health wanes.
Rival Pfizer ( PFE ) last month reported a ~41% year-over-year drop in revenue with its financial statements for Q4 2023, as sales of its COVID-19 shot Comirnaty, marketed with BioNTech ( BNTX ), fell ~54% year-on-year.
However, the New York-based pharmaceutical giant can tap into its non-COVID portfolio to offset the impact, while Moderna (MRNA) relies solely on its COVID vaccine, Spikevax, for product revenue.
Its plans to gain regulatory approval for an mRNA-based RSV vaccine in the first half of 2024 sparked concern among analysts earlier this month after long-term data suggested its mRNA-1345 shot did not maintain efficacy against respiratory syncytial virus.
Meanwhile, according to Wall Street forecasts, Moderna (MRNA) will only return to growth in 2025, with its Q4 projections indicating $2.5 billion in revenue with a ~50% YoY decline and -$0.99 per stock in earnings compared to GAAP earnings of $3.61. Years ago.
Analysts have adjusted Moderna's (MRNA) upcoming earnings per share with six upward and four downward revisions in the past three months, while the company's revenue estimates have seen six upward and four downward adjustments. .
Over the past two years, MRNA has surpassed consensus earnings estimates 63% of the time, while its revenue numbers have surpassed estimates 88% of the time.
Ahead of its presentation at JP Morgan's Annual Healthcare Conference in January, Moderna (MRNA) reported ~$6.7 billion in product sales for 2023, citing unaudited financial statements. The company also reiterated its product sales outlook of $4 billion by 2024, primarily weighted toward the second half due to a possible launch of mRNA-1345.
