Moderna slumps 11% as the vaccine-maker's Q1 revenue misses estimates
- Moderna's stock fell 11% at Thursday's market open after missing
- Net revenue for the quarter came in at $1.94 billion, compared to an expected $2.04 billion.
COVID-19vaccines generated $1.7 billion in revenue for the quarter, the company said.
The therapeutics company reported $1.94 billion in net revenue for the three months ending in March, thanks to strong COVID-19
The biotech firm also announced its vaccine is 96% effective in children aged between 12 and 17. It released preliminary data on Wednesday, which hasn't yet been peer-reviewed, that showed a third booster shot generated a promising immune response against variants first found in South Africa and Brazil.
"The feedback from governments around the world requesting high-efficacy mRNA vaccines and variant boosters is overwhelming," CEO Stéphane Bancel said in a statement. "We are now actively engaged in discussions and agreements for 2022 with all of the governments we are currently supplying for 2021."
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