Lates News

Moderna raised its full-year guidance and reported its first quarterly profit since 2024, mainly driven by a sharp rebound in COVID-19 vaccine sales from a year earlier. The company said Friday it expects revenue to grow 15% to 25% this year, up from its previous forecast of 10%. Third-quarter profit also beat the average estimate of Wall Street analysts compiled by FactSet, who had expected a loss. Moderna, known for its COVID-19 vaccine, is trying to open up new sources of growth by shifting its focus toward cancer drug development. The mRNA skin cancer vaccine it is developing with Merck recently succeeded in a late-stage clinical trial, pushing its shares to multi-year highs. As of Thursday, the stock had risen more than 700% year to date. If approved, the drug would mark a major breakthrough for Moderna's core technology. Moderna expects the drug, called intismeran, to potentially win U.S. approval next year.