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Moderna's $1 Billion Revenue Forecast Cut Sends Stock Plummeting Over 20%
Key Takeaways
Shares of pharmaceutical giant Moderna ( MRNA ) plunged Monday after the company cut its 2025 revenue forecast by $1 billion.
The company now projects revenue of $1.5 billion to $2.5 billion this year, down from a prior estimate of $2.5 billion to $3.5 billion in September. That revenue is expected “mostly in the second half of the year” in large part from sales of its Covid-19 and respiratory syncytial virus vaccines. Moderna also said it expects to cut $1 billion worth of expenses this year, with another $500 million reduction planned in 2026.
Shares of Moderna dropped more than 20% intraday to $33.44, more than erasing gains last week after the first bird-flu death was reported in the U.S. The stock has lost about two-third of its value over the past year and is well off its all-time high near $490 in August 2021, during the COVID-19 pandemic.
The business update comes as Moderna prepares to present at the J.P. Morgan Healthcare Conference at 6:45 p.m. ET on Monday.
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