July 31 (Reuters) - Moderna ( MRNA ) beat Wall Street
estimates for second-quarter revenue on Friday, benefiting from
better-than-expected sales of its COVID-19 vaccine, as the
company gears up for the potential launch of its flu shot.
However, the company's shares fell more than 4% in premarket
trading after its experimental norovirus vaccine candidate
missed the statistical benchmark for early success in an interim
analysis of a late-stage study.
The company is betting that its flu vaccine and a future
COVID-flu combination shot can help offset the decline from
pandemic-era COVID-19 vaccine sales while demonstrating that its
mRNA platform can support a durable, diversified
respiratory-vaccine franchise.
The U.S. FDA is set to decide on Moderna's ( MRNA ) flu vaccine by
August 5, after the agency first refused to accept its
application under former Commissioner Marty Makary, only to
reverse course and accept a revised application for review.
The company reiterated its revenue growth expectation of up
to 10% for the year, with roughly half of its revenue coming
from the U.S.
The company reported second-quarter revenue of $145 million,
compared with analysts' average estimate of $103 million,
according to LSEG data.