Coronavirus Vaccine Developer Moderna's Q2 Report: What To Expect

Coronavirus vaccine maker Moderna Inc MRNA is scheduled to report its second-quarter results Wednesday ahead of the market open.

Q2 Expectations For Moderna: Cambridge, Massachusetts-based Moderna is widely expected to report a loss of 35 cents per share for the quarter, narrower than the 41-cent-per-share loss reported a year ago.

The consensus estimate calls for revenue of $27.43 million, more than double last year's $13.08-million figure. Moderna receives its revenues from collaboration and grants, given that it is yet to have a commercial product in the market.

At the end of the first quarter, the company had cash and investments of about $1.7 billion.

The company guided in May that it expects net cash used in operating activities and for the purchase of property and equipment to be about $500 million in 2020.

Coronavirus Vaccine Candidate: It is less likely that Moderna issues any fresh update on its coronavirus vaccine candidate, mRNA-1273. The company initiated a Phase 3 study of the vaccine candidate in late July.

Moderna is likely to report a preliminary Phase 2 reading by late October, Jefferies analyst Michael Yee said in a Monday note.

Even as most big pharma coronavirus vaccine makers are announcing supply agreements with governments, Moderna has not yet made such a deal.

"Investors are increasingly curious as to when MRNA will announce an agreement to supply vaccine to the government, and we expect this will be a key focus of the upcoming earnings call on August 5th," SVB Leerink analyst Mani Foroohar said in a note.

The company might also be probed on potential pricing amid reports that it is targeting pricing in the $50-$60 range, significantly above rival vaccine developers.

The company has 23 mRNA development candidates in its portfolio, with 13 in clinical trials for indications such as infectious diseases, oncology and rare diseases.

MRNA Stock: Moderna shares have gained about 300% year-to-date.

Jefferies has a Buy rating and $90 price target for Moderna shares, while SVB Leerink rates Moderna shares a Market Perform with a $42 price target.

The stock was down 1.1% at $77.12 at last check Tuesday.

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