CAMBRIDGE, MA - Moderna , Inc. (NASDAQ:MRNA) has secured a contract with Brazil's Ministry of Health to supply 12.5 million doses of its mRNA COVID-19 vaccine for the country's national vaccination campaign this year. The agreement comes on the heels of the Brazilian Health Regulatory Agency's approval of the vaccine in March for use in individuals aged six months and older.
The vaccine, specifically targeting the XBB.1.5 sublineage of the SARS-CoV-2 virus, is expected to be delivered in the second quarter of 2024. This partnership marks Moderna's first-time contribution to Brazil's vaccination efforts and is anticipated to enhance the country's capabilities in combating COVID-19.
Stéphane Bancel, CEO of Moderna, expressed pride in supporting Brazil's public health initiatives and emphasized the company's commitment to global health. The World Health Organization (WHO) has recommended updating COVID-19 vaccines to focus on the monovalent XBB.1.5 composition to ensure a robust immune response against the dominant circulating variants.
Moderna's vaccine candidate has demonstrated preclinical and clinical data suggesting an immune response to various sublineages and strains of the virus, including JN.1.
Moderna, known for its pioneering work in mRNA medicine, has made significant strides in vaccine development, including one of the earliest COVID-19 vaccines. The company's mRNA platform has facilitated the rapid creation of vaccines and therapeutics for a range of diseases.
This news is based on a press release statement and should not be seen as an endorsement of Moderna's claims. The forward-looking statements included in the press release involve risks and uncertainties, and actual results may differ from those projected. Further details can be found in Moderna's filings with the U.S. Securities and Exchange Commission.
InvestingPro Insights
As Moderna, Inc. (NASDAQ:MRNA) forges ahead with its global health initiatives, including the recent vaccine supply contract with Brazil, the company's financial health and market performance continue to be of interest to investors. According to recent data from InvestingPro, Moderna holds a market capitalization of $38.83 billion, reflecting its significant presence in the biotechnology industry.
Despite challenges in revenue growth, with a sharp decline of -64.45% over the last twelve months as of Q4 2023, Moderna has managed to maintain a strong balance sheet. One of the InvestingPro Tips highlights that the company holds more cash than debt, which is a reassuring sign for stakeholders considering the financial stability and liquidity of the company.
Moreover, Moderna's management has been actively engaging in share buybacks, a move that often indicates confidence in the company's future prospects and a commitment to delivering shareholder value.
Investors should note that while the company has experienced a large price uptick of 26.13% over the last six months, analysts do not anticipate Moderna will be profitable this year. The company's stock price movements have been quite volatile, which may be a point of consideration for those looking for more stable investments.Moderna does not pay a dividend to shareholders, which could influence the investment decisions of income-focused investors.
For those interested in a deeper dive into the company's performance and future outlook, there are additional InvestingPro Tips available at https://www.investing.com/pro/MRNA. Readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, gaining access to a comprehensive list of tips that can guide investment decisions.
With the next earnings date set for May 2, 2024, investors and analysts alike will be keenly watching Moderna's performance metrics and strategic initiatives as they unfold in the dynamic landscape of biotech and pharmaceuticals.
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