Moderna Inc. (NASDAQ:MRNA) shares fell Friday after the company reported a quarterly net loss driven by a litigation settlement charge, even as revenue topped Wall Street expectations.

Moderna Revenue Beats Despite Litigation Impact

The COVID-19 vaccine maker reported a first-quarter adjusted loss of $1.18 per share, narrower than analysts’ expectations for a loss of $3.81. The adjusted figure excludes litigation-related expenses of $2.22 per share.

Revenue totaled $389 million, exceeding the consensus estimate of $227.97 million.

Net product sales increased due to higher COVID vaccine sales, primarily in international markets, as a result of deliveries under long-term strategic partnerships with government entities.

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