Moderna Exceeds Q2 Revenue Expectations Amid Anticipation for Flu Vaccine Decision

Moderna exceeded Wall Street expectations in its second-quarter revenue, driven by vaccine partnership payments and international sales of its COVID-19 shot. The company's total revenue reached $145 million, surpassing analysts' estimates of $103 million.

The U.S. FDA is set to decide on Moderna's flu vaccine by August 5, a decision that could mark an important milestone for the biotech as it seeks to prove its mRNA platform can succeed beyond COVID-19. If approved, the flu vaccine would be the first seasonal shot in the U.S. made with mRNA technology.

Moderna is also advancing its intismeran autogene therapy, an individualized cancer treatment developed with Merck, across different types of cancer. The company expects late-stage data for the therapy in skin cancer later this year.