Moderna Inc. (NASDAQ:MRNA) reported a third-quarter loss of 51 cents, beating the expected loss of $2.02, a turnaround from an income of 3 cents a year ago.

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The COVID-19 vaccine maker reported quarterly sales of $1.02 billion, topping the expected $886.54 million.

Sales declined 45% to $1.9 billion from a year ago, primarily due to a $847 million, or 47%, decrease in net product sales, as COVID vaccine sales decreased.

In the U.S., lower sales reflected decreased vaccination rates.

Moderna began U.S. commercial sales of mNEXSPIKE for the 2025-2026 respiratory virus season. International revenue fell, largely due to the end of certain government contracts and delivery timing.

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