Moderna raised its full-year outlook as it swung to a profit and logged higher revenue in the recent quarter, boosted in part by stabilizing demand for its Covid-19 vaccine.

Shares were up 9.6% to $264.79 in premarket trading.

The biopharmaceutical company said Friday it now expects total revenue growth of 15% to 25% for the year, compared with a previous outlook for up to 10% growth. It continues to expect roughly half of its revenue to come from the U.S. and half from international markets.

The higher outlook follows the U.S. approval of mFLUSIVA, the company's mRNA-based influenza vaccine, as well as what Chief Executive Stephane Bancel called positive late-stage trial results of intismeran, an investigational cancer therapy being jointly developed by Moderna and Merck.

"Looking ahead, we anticipate additional intismeran readouts, pivotal data in propionic acidemia and further regulatory approvals as we advance our pipeline and build a more diversified company," Bancel said.

Moderna swung to a third-quarter profit of $162 million from a loss of $200 million a year earlier. Quarterly earnings came out to 38 cents a share, compared with analyst expectations for a loss of $1.10 a share, according to FactSet.

Total revenue climbed 29% to $1.31 billion, ahead of Wall Street estimates for $890.3 million. The company attributed the increase to higher Covid-19 vaccine sales in international markets, as well as deliveries made under long-term government partnerships.