Reported 2 months ago
Moderna's stock plummeted by over 20% after the company lowered its 2024 sales forecast to between $3 billion and $3.5 billion, down from $4 billion, citing a lack of new COVID-19 vaccine orders from the EU. Despite outperforming revenue expectations in Q2 with $241 million, the company reported a greater-than-expected earnings loss. CEO Stéphane Bancel highlighted challenges due to the ongoing war in Ukraine, rising inflation, and competition from Pfizer and GSK in the RSV vaccine market. Bancel expressed hopes for future growth driven by upcoming product launches.
Source: YAHOO