Moderna Inc. has advised the American people to take a third vaccine shot against COVID-19 after the biotechnology company reported a boom in earnings for the second quarter of 2021, thanks to vaccine sales.
Moderna said on Thursday, Aug. 5, that people would likely need a COVID-19 vaccine booster dose to protect against future mutations of the coronavirus, touting the robust antibody response generated by the additional shot, Washington Examiner reported.
Vaccine developers at Moderna “are looking forward towards our vision of a single dose annual booster that provides protection against COVID-19, flu and [respiratory syncytial virus] for adults… We believe this is just the beginning,” CEO Stephane Bancel said.
The company recommended the third shot, though it affirmed that its two-dose vaccine is still 93% effective after six months.
Citing new strains of the coronavirus, particularly the highly contagious Delta variant, Moderna called for the third shot to be taken before winter.
Moderna is pushing for the new shot on the same day the vaccine producer reported financial results for the second quarter of the fiscal year 2021, which shows the company turned from a loss-making business to a profitable one.
Moderna posted a net income of $2.8 billion for the three months ended June 30, compared to a net loss of $117 million for the same period last year. In the six months of 2021, the company made a net income of $4.0 billion, compared to a net loss of $241 million for the same period in 2020.
Moderna reported total revenue was $4.4 billion from April through June, compared to just $67 million for the second quarter of 2020. For the whole first half of this year, its total revenue was $6.3 billion, compared to just $75 million for the same period last year.
The financial results show that Moderna earned $4.2 billion from sales of 199 million doses of the company’s COVID-19 vaccine in the second quarter and raked in $5.9 billion from sales of 302 million doses of vaccine in the first six months of 2021.
“I am proud of the progress our teams at Moderna have made in the past quarter in advancing our development pipeline while addressing a global pandemic and quickly establishing global manufacturing and commercial organizations,” Bancel said.
“We are pleased that our COVID-19 vaccine is showing durable efficacy of 93% through six months, but recognize that the Delta variant is a significant new threat so we must remain vigilant,” he added.