U.S. Biotech Company Moderna has continued to reap the rewards of its COVID-19 vaccine.

In the final quarter of 2021, the company had achieved net profits of $4.9 billion, it announced on Thursday.

In the last fiscal year, Moderna made a surplus of $12.2 billion, although the high research and development costs of the previous year that had led to losses of $747 million.

However, all in all, the high demand for its vaccine led to revenues of $18.5 billion for 2021, up from $803 million the previous year.

Moderna’s signed advance purchase agreements for 2022 are valued at $19 billion, up from a predicted $18.5 billion in January.

The company holds additional signed options of approximately $3 billion.

In comparison, rival company Pfizer expects revenues for its COVID vaccine of $32 billion for 2022.

The U.S-based pharmaceutical company developed its vaccine together with its German partner Biontech.