Moderna pulled in $1.7B with its COVID-19 vaccine rollout, but it's just getting started

With Moderna's COVID-19 vaccine having reached tens of millions of Americans in recent months, the company reported its first big sales haul more than a decade after its founding. But the biotech is just getting started, execs stressed. The Massachusetts-based biotech generated $1.94 billion in revenue during the first quarter, with $1.73 billion coming from its COVID-19 shot. After the company's founding in 2010 and appointment of CEO Stéphane Bancel in 2011, the chief exec took a chance to reflect on Thursday's conference call with analysts. 'Twelve months ago in Q1 2020, Moderna had never run a phase 3 clinical study, never got a product authorized by a regulator, and never made 100 million doses in a single quarter,' Bancel said. 'I am very proud of what the Moderna team has achieved.'