Reported 1 day ago
Moderna has revised its sales forecast for 2025 down by $1 billion due to sluggish demand for its COVID-19 and respiratory syncytial virus (RSV) vaccines, causing its shares to drop over 18% in premarket trading. The company anticipates annual revenue between $1.5 billion to $2.5 billion, falling short of earlier projections, and is looking to cut costs while investing in new product developments. CEO Stéphane Bancel expects a significant reduction in cash costs and is awaiting regulatory decisions on multiple vaccine applications.
Source: YAHOO