Moderna Cuts 2024 Vaccine Sales Forecast Amid EU Revenue Decline
Thursday, 1 August 2024, 10:32
Moderna's Financial Adjustments
On Thursday, Moderna announced a significant reduction in its 2024 sales forecast. The company now anticipates a drop of up to 25%, or $1 billion, for its COVID-19 and respiratory syncytial virus vaccines.
Impact on Vaccine Sales
- Expected Revenue in the EU to remain very low.
- The previous forecast of around $4 billion in sales was already the lowest since the COVID vaccine launch.
- Stock prices fell nearly 11% following the announcement.
Q2 Financial Results
In addition to the forecast adjustment, Moderna reported a net loss of $1.3 billion, equating to $3.33 per share, for the second quarter.
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