Moderna’s stock rises on 2023 product sales of $6.7B

Moderna Inc.’s stock
MRNA,
-0.79%
was up by 1.2% after the drug maker said it sold $6.7 billion of products in 2023. Analyst expected the company to sell $6.35 billion in products in 2023. Moderna said its share of the U.S. COVID-19 drug market was 48% in 2023, up from 37% in 2022. It also continues to expect 2024 product sales of approximately $4 billion, compared to the analyst estimate of $4.4 billion. It continues to expect it will return to sales growth in 2025, and break even in 2026. Moderna is also working on nine late-stage drug programs with anticipated milestones in 2024 and 2025.