Moderna forecasts $18.4 billion in COVID-19 vaccine sales in 2021
Moderna Inc., the producer of one of two coronavirus vaccines currently being distributed throughout the country, said in a release on Thursday that it has already signed deals for $18.4 billion in product sales scheduled for delivery in 2021.
Additional deal discussions with several governments relating to supplies of its COVID-19 vaccine for 2021 and 2022 are ongoing.
The Cambridge, Massachusetts-based biotech company also on Thursday reported a loss of $272.5 million in its fourth quarter. On a per-share basis, the company said it had a loss of 69 cents.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of just 25 cents per share.
A seven-fold stock price increase
But the company beat the Street's forecasts by posting fourth-quarter revenue of $570.7 million. Five analysts surveyed by Zacks had expected $326.6 million.
For the year, Moderna reported that its loss widened to $747.1 million, or $1.96 per share, on revenue of $803.4 million.
Moderna's stock price has increased 39% since the beginning of the year to around $150 a share. The stock has risen sevenfold in the last 12 months.
First shipments of the Moderna coronavirus vaccine began in late December 2020, three days after the Food and Drug Administration (FDA) authorized their emergency rollout, and a week after Pfizer's shots were first shipped out.
The White House this month enacted a plan to double the amount of doses being delivered to retail pharmacies across the U.S., broadening the shipments from the 1 million doses sent to 6,500 pharmacies in the beginning of February.
The program will be implemented in stages, based on available vaccine supplies, according to the U.S. Centers for Disease Control and Prevention. Pharmacies and retailers are also partnering with states to help speed the immunization effort.