Moderna reports $1.2 billion loss as COVID jab sales plummet

Gene therapy maker Moderna has announced a $1.2 billion loss for the first quarter of 2024, citing a drastic drop in COVID-19 vaccine sales.

Its latest earnings report, released on May 2, indicated only $167 million in first-quarter sales of its ‘vaccine’ Spikevax — a massive 94% decline from the $2.8 billion earned in the previous quarter.

The pharmaceutical giant attributed the slump to the anticipated shift toward a seasonal COVID-19 vaccine market. The company said its previous year’s revenue came largely from doses deferred from 2022. Moderna sold $100 million worth of its vaccine in the U.S. during the first quarter and anticipates an uptick in vaccine demand as it prepares its updated ‘next generation’ Spikevax formula for the 2024-2025 influenza season.

‘In the U.S., the company is reaffirming its 2024 product sales outlook as it enters the second year of the commercial endemic COVID market,’ Moderna stated, emphasising efforts to work with health officials and pharmacies to boost vaccination rates and alleviate the COVID-19 burden.

Despite posting a $4 billion sales forecast for 2024—its lowest annual revenue projection since the COVID-19 vaccine’s emergency authorisation in 2020 — the company claims ‘positive results’ from Phase 3 clinical trials of its next-generation COVID-19 vaccine (mRNA-1283). These results showed improved immune responses against new and original ‘virus’ strains, the company claimed.

Moderna is also seeking regulatory approval for its respiratory syncytial virus (RSV) vaccine and remains hopeful that its experimental RSV, flu, and ‘cancer shots’ will offset declining COVID-19 vaccine revenue.

Pfizer, another key COVID-19 gene therapy producer, faced similar challenges in its first-quarter results released on May 1. The company reported a 44% year-over-year decline in profit, attributing the downturn to a sharp decrease in demand for its Comirnaty and antiviral treatment Paxlovid.

While Moderna and Pfizer vaccines remain ‘safe and effective’ according to health officials, concerns are increasing due to the large number of reported adverse reactions. Cases of myocarditis, pericarditis, and nervous system disorders have been officially recognised as side effects by the Centers for Disease Control and Prevention (CDC).

Independent experts say the COVID-19 spike protein, induced by the vaccines, plays a role in these adverse effects, potentially causing immune dysregulation, blood clotting, and vascular damage. The spike protein has been shown to travel throughout the body and enter major organs including the brain – contrary to safety messages promulgated by government ‘experts’ and mainstream media during the COVID crisis.  Recent reports also indicate that CDC officials discovered evidence linking the mRNA vaccines to deaths but did not publicly confirm a direct causal relationship, according to a report in the Epoch Times.

Image credit: Mufid Majnun