Total revenue for the company was $1.9bn in Q1 (three months ended March 31, 2021): compared to $8m for the same period in 2020. Net income was $1.2bn for the quarter, compared to a net loss of $124m the year before.
Sales for 2021 are projected to total $19.2 billion.
And looking forward, Moderna predicts that 2022 COVID-19 vaccine sales will exceed 2021’s sales.
Facts and stats: Moderna’s COVID-19 vaccine
With Q1 2021 representing the first full quarter of commercial sales of the vaccine (first authorized in December 2020), the company’s revenue increased in the quarter with a ramp up of international sales.
A total of 102 million doses were recognized as revenue: and sales of the vaccine totalled $1.7bn (grant revenue took the company’s total up to $1.9bn)
It expects the number of doses to be delivered in Q2 to be in the region of 200-250 million doses.
Across 2021, Moderna has increased its base plan to 800 million doses: with the target of 1 billion doses. Based on the agreements signed to date, it is expecting a total of $19.2bn in sales.
On Tuesday, Pfizer also put figures on its COVID-19 vaccine sales: reporting $3.5bn in sales for Q1 and predicting $26bn for the year.
Past 2021, manufacturing scale up and partnerships mean the company is now in a position to negotiate agreements with markets it could not supply in 2021. Advance Purchase Agreements have already been signed with Israel and Switzerland, with more to follow.
“We are now actively engaged in discussions and agreements for 2022 with all of the governments we are currently supplying for 2021,” says the company.