CAMBRIDGE, Mass. (AP) 鈥� CAMBRIDGE, Mass. (AP) 鈥� Moderna Inc. (MRNA) on Friday reported a loss of $1.34 billion in its first quarter.
The Cambridge, Massachusetts-based company said it had a loss of $3.40 per share. Losses, adjusted for non-recurring costs, came to $1.18 per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of $3.02 per share.
The biotechnology company posted revenue of $389 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $223.5 million.
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