Revenue from its coronavirus preventive shots climbed to $5.92 billion, up from $1.73 billion in last year’s first quarter when vaccines were debuting.
Moderna’s net income for the first quarter was $3.7 billion, compared with $1.2 billion for the same period a year ago.
On a per-share basis, the Cambridge, Massachusetts-based company said it had a profit of $8.58.
“The Moderna team delivered a strong Q1 performance and I am thankful for the progress our team continues to make as we advance our pipeline of mRNA medicines. Moderna’s CEO Stéphane Bancel said in a statement.
Data from the Centers for Disease Control and Prevention (CDC) shows more than 217 million doses of Moderna’s Spikevax vaccine have been administered in the U.S.
While sales of its vaccine jumped compared with last year, they declined by $1 billion from the fourth quarter of 2021.
Research costs and expenses also rose.
Bancel noted that Moderna has several vaccines in late-stage clinical studies, including its “omicron-containing bivalent COVID booster, seasonal flu, RSV and CMV vaccine candidates.”
“Beginning in the fall of 2022, our robust Phase 3 pipeline could lead to three respiratory commercial launches over the next two to three years,” he added. “We also look forward to advancing our therapeutic programs and sharing proof-of-concept readouts on our rare genetic disease programs for propionic acidemia and methylmalonic acidemia and on our personalized cancer vaccine program this year.”
Moderna currently is seeking authorization for its shots to be used in adolescents and children.