Moderna reported on Wednesday that sales for its Covid-19 vaccine more than tripled in the first three months of 2022 compared to the same period a year ago.
The vaccine brought in $5.9 billion in revenue in the first three months of this year and was the company’s biggest source of revenue, which totaled $6.1 billion, Moderna said. Profits rose to $3.7 billion for the quarter compared with $1.2 billion for the same period last year.
Moderna said it plans to sell its vaccine to private companies as the Biden administration seeks congressional approval of $22.5 billion in Covid relief money to pay for treatments, tests, vaccines and research. On a call with investors on Wednesday, Stéphane Bancel, chief executive officer of Moderna, highlighted the company’s optimistic outlook for global sales, and said it has $21 billion worth of advance purchase agreements for the vaccine.
Shares of Moderna rose 5.8 percent on Wednesday.
In June, Moderna plans to publish data on new versions of its vaccines to handle virus variants. In late April, it became the first manufacturer to request authorization for a vaccine for children under 6, and said the vaccine will also be ready for review by a Food and Drug Administration panel in June.