Moderna Navigates Sales Forecast Cut Amid COVID Booster Demand
Moderna surpassed Wall Street sales predictions due to strong Spring COVID booster demand but lowered its 2025 sales forecast, causing a premarket share decline. Despite a 41% revenue drop to $142 million, it exceeded analyst estimates. Operational cost cuts helped mitigate quarterly financial losses, while workforce reductions were announced.
Moderna reported stronger-than-expected sales for the second quarter as demand for its Spring COVID booster remained robust. Despite this, the biotech firm saw its shares fall in premarket trading after revising its 2025 sales forecast downward due to postponed UK revenue deliveries, now expected in early 2026.
In the latest quarterly report, Moderna revealed a revenue of $142 million, outperforming Wall Street's estimates but marking a 41% decline from last year. The company's adjusted loss was less than analysts anticipated, thanks in part to substantial cost reductions and the booster shot's uptake.
Plans to curb operational expenses include cutting around 10% of its workforce. Moderna's resultant focus on new mRNA products aims to compensate for decreasing COVID vaccine revenue and delayed RSV vaccine sales. The company continues efforts to resubmit its COVID-flu combo shot for approval.
(With inputs from agencies.)
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