India, Nov. 6 -- Moderna, Inc. (MRNA) on Friday reported a return to profit in the third quarter, supported by higher revenue and lower research and development expenses. The biotechnology company also raised its full-year revenue growth outlook.
Net income was $162 million, or $0.38 per share, compared with a net loss of $200 million, or $0.51 per share, in the same period last year.
Income from operations was $130 million, compared with an operating loss of $260 million a year earlier.
Research and development expenses declined to $583 million from $801 million in the corresponding period last year.
Total revenue increased 29% to $1.313 billion from $1.016 billion in the prior-year period, primarily driven by higher COVID-19 vaccine s...