Moderna beats quarterly revenue estimates on COVID vaccine strength

A sign marks an entrance to a Moderna building in Cambridge, Mass., May 18, 2020. (AP Photo/Bill Sikes, File)prnto

Moderna beat Wall Street estimates for second-quarter revenue on Friday benefiting from better-than-expected sales of its COVID-19 vaccine, as the company gears up for the potential launch of its flu shot.

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The company reported second-quarter revenue of US$145 million, compared with analysts’ average estimate of US$103 million, according to LSEG data.

(Reporting by Christy Santhosh and Mariam Sunny in Bengaluru; Editing by Maju Samuel)