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Moderna Q2 revenue rises amid COVID-19 vaccine development

Yahoo FInance’s Brian Sozzi, Alexis Christoforous, and Emily McCormick discuss the Moderna's recent earnings report.

Video Transcript

ALEXIS CHRISTOFOROUS: All right. I also want to get to Moderna. We know one of the companies out there racing to get a vaccine to market. What did their latest quarter look like?

EMILY MCCORMICK: Huge beat on the top line for Moderna. We had second-quarter revenues of $66.4 million. More than twice the consensus estimate. But, of course, here with Moderna, the linchpin really being developments on the COVID-19 vaccine front.

And the company says it's on track to have its phase 3 trial for that vaccine candidate, finishing enrollment in September. Said it's received about $400 million in customer deposits so far for that vaccine candidate. And then, finally, we had its CEO Stéphane Bancel giving some details on Moderna's vaccine pricing plans this morning in its earnings call.

He said during the pandemic period, we are priced well below value with preapproval supply agreements mostly to governments. To date, smaller volume agreements have been executed between $32 and $37 per gross. Larger volume agreements under discussion will be at a lower price for higher volumes. So something to keep an eye on there with Moderna's vaccine pricing, Alexis.

ALEXIS CHRISTOFOROUS: All right. Emily McCormick, thanks for the roundup.