Reported 27 days ago
Moderna reported a quarterly loss of $2.91 per share, exceeding analysts' predictions as it scales down production of its COVID-19 vaccine due to declining demand. The company incurred a $238 million charge linked to contract manufacturing adjustments, resulting in a nearly 60% stock drop last year. Despite a total revenue of $966 million, the company plans significant cost reductions and was forced to lower its sales forecasts.
Source: YAHOO