Moderna beats on earnings as vaccination push continues

Brian Sozzi and Myles Udland discuss Moderna topping estimates as the company announces a third dose of the vaccine will be needed to combat COVID variants.

Video Transcript

- All right. Let's quickly talk about Moderna company out with its latest results. I think the headline here it's not really about the results themselves. Company saying that in follow on studies from folks who've gotten both doses of the COVID-19 vaccine. Efficacy remains 93%.

See here beat on the top line beat. On the bottom line, we pull up some-- I think we jotted down. Also, for Moderna delivering 199 million doses of COVID-19 vaccine in the first quarter of this year.

302 million now cumulatively for six months of the year. So we have 302 million doses out there. Sozzi sounds like a lot.

Maybe we should let Britney DeChambeau. That supply is OK from Moderna. And-- and you know, having gotten both of mine, I can feel the 5G still coursing through my veins.

- This is obviously a company I do care about. The only thing I'll note here is Moderna shares are at a record high right now. The stock is up 440.3% over the past year according to our fine friends over at Yahoo Finance Plus.

So it's been an absolute tremendous run here for Moderna. And they seem to be making progress on the mRNA platform as it pertains to the flu.

- Yeah. They have. And there's a very long discussion in their earnings release about all the other-- all the other possible treatments that they're working on-- on that platform.

I also do want to note that they have a phase II study for all of the how their vaccine works against all the variants. That's currently in peer review. So we don't have the data on that yet.

But again, I think that 93% efficacy six months after the administration of the second dose in the initial run of COVID vaccine recipients certainly bodes well. One would say for what we've seen from Moderna.

It is looking at the results. They had $67 million in sales in 2020. Really it's just grant money. $4.4 billion.

That's what happens when you go from 0 to 1. All right. Let's get out of here.