US drugmaker Moderna announced a first quarter profit of $3,657 million almost three times more than in the same three months of 2021 which had stood at $1.7 billion.

Profit was driven by sales of Moderna's covid-19 vaccine, which reached $5,925 million in the quarter.

According to Reuters, the company's shares were up 5.41TP2Q before the market opened, even as it maintained its full-year sales forecast for the vaccine, the company also tripled its revenues to $6,066 million from $1,937 million in the same period last year.

Earnings per share soared to $8.58, compared to $2.84 in the same period last year.

The company reiterated its forecast to rake in $21,000 million from Covid-19 vaccine sales for the year as a whole.

"The Moderna team performed solidly in the first quarter and I am grateful for the progress it continues to make as we move forward with our NRA drug portfolio, Moderna CEO Stéphane Bancel indicated.

Bancel pointed out that Moderna continues to develop various products such as the double vaccine for Covid and the flu and to treat other respiratory diseases.