Reported 27 days ago
Moderna Inc. plans to reduce its research and development budget by approximately 20% over the next three years following disappointing vaccine sales, including the discontinuation of five programs. The company aims to save $1.1 billion by 2027 as it delays its break-even target from 2026 to 2028. Moderna's revenue forecast has disappointed analysts, leading to a significant drop in its stock price.
Source: YAHOO