Moderna Inc. (NASDAQ:MRNA) reported on Friday a second-quarter loss of $2.13 per share, beating the consensus of a $2.98 loss, an improvement from a loss of $3.33 a year ago.

The COVID-19 vaccine maker reported quarterly sales of $142 million, beating the consensus of $116.34 million.

Sales fell 41% from $241 million in the same period in 2024. The decline was primarily driven by lower COVID-19 vaccine sales, which totaled $114 million in the quarter.

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Demand is expected to be concentrated in the second half of the year, aligning with the fall and winter seasons as the vaccine transitions into a seasonal respiratory product.

The company reported $114 million in Spikevax sales in the second quarter of 2025, including $88 million in U.S. and $26 million in international sales.

Moderna recently announced U.S. Food and Drug Administration (FDA) approval for the supplemental Biologics License Application (sBLA) for Spikevax in children 6 months through 11 years of age who are at increased risk for COVID-19 disease.

The company’s COVID-19 vaccine (mRNA-1273) was previously available for pediatric populations under Emergency Use Authorization (EUA). Additionally, the company announced it has received final approval from the European Medicines Agency for Spikevax targeting the LP.8.1 variant in individuals six months of age and older.

Moderna also announced FDA approval for mNEXSPIKE (mRNA-1283), a next-generation vaccine against COVID-19, for use in all adults aged 65 and older, as well as individuals aged 12-64 years with at least one underlying risk factor.

On Wednesday, the European Commission approved the updated formulation of the COVID-19 vaccine Spikevax, targeting the SARS-CoV-2 variant LP.8.1, for individuals six months of age and older.

Moderna reported negligible mRESVIA (RSV vaccine) sales in the second quarter of 2025. Moderna’s RSV vaccine for adults aged 60 years and older has been approved in approximately 40 countries.

Additionally, Moderna recently announced that the FDA has approved mRESVIA (mRNA-1345), expanding the previous indication, for the prevention of lower respiratory tract disease (LRTD) caused by RSV in individuals 18-59 years of age who are at increased risk for disease.

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Cost of sales for the second quarter of 2025 was $119 million, which included third-party royalties of $6 million, inventory write-downs of $38 million, and unutilized manufacturing capacity and wind-down costs of $52 million.