Moderna has reported total revenue of $18.5bn for the full year 2021, a rise from $803m in the full year 2020. 

The rise in the revenue in 2021 was attributed chiefly to commercial sales of its Covid-19 vaccine, Spikevax.

For the full year ending on 31 December 2021, product sales were recorded at $17.7bn generated from the sales of 807 million doses of the vaccine.

The company’s net income on a GAAP basis stood at $12.2bn for the full year 2021 against a net loss of $747m in the prior year.

The GAAP diluted earnings per share (EPS) was recorded at $28.29 for the full year 2021 versus a loss of $1.96 in 2020.

Moderna reported total revenues of $7.2bn in the fourth quarter (Q4) of 2021 as against $571m during the Q4 of 2020. 

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GAAP based net income in the quarter stood at $4.9bn versus a net loss of $272m in the same period of 2020.

For the quarter, GAAP based diluted EPS was recorded at $11.29 compared to a loss of $0.69 in the prior-year period.

Furthermore, Moderna raised its 2022 advance purchase agreements signed for product sales to nearly $19bn and around $3bn for signed options, including for potential Covid-19 booster vaccines.

Meanwhile, the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has recommended updating the conditional marketing authorization (CMA) of Moderna’s Spikevax vaccine to include a 50µg two-dose regimen for use in children aged six to 11 years. 

The European Commission (EC) will decide on the authorisation of the vaccine for children of this age group based on the positive opinion of the CHMP.

Moderna CEO Stéphane Bancel said: “Spikevax is now approved in more than 70 countries around the world protecting hundreds of millions of people and real-world evidence from multiple independent studies has confirmed its strong effectiveness. 

“In 2021, we delivered 807 million doses with approximately 25% of those doses going to low- and middle-income countries, and we will continue to scale in 2022 to help end the Covid-19 pandemic.”

The company reported a total revenue of $5bn in the Q3 of the fiscal year 2021, a growth from $157m in Q3 2020.