Moderna Struggles With Weaker COVID-19 Vaccine Demand, Expects To Return To Growth In 2025, Stock Plunges
Portfolio Pulse from Vandana Singh
Moderna Inc (NASDAQ:MRNA) reported a deeper Q3 loss of $(9.53), down from EPS income of $2.53, leading to a drop in its share price. The company's Q3 sales reached $1.8 billion, down from $3.4 billion a year ago. Moderna is resizing its COVID-19 manufacturing footprint to accelerate gross margin expansion. The company expects to return to organic sales growth in 2025, with projected sales of $4 billion in 2024, primarily due to COVID-19 vaccine global sales and the launch of its RSV vaccine.
November 02, 2023 | 1:33 pm
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Moderna reported a deeper Q3 loss, leading to a drop in its share price. The company is resizing its COVID-19 manufacturing footprint and expects to return to organic sales growth in 2025.
Moderna's deeper than expected Q3 loss and the decrease in sales compared to a year ago have negatively impacted the company's stock price. The company's resizing of its COVID-19 manufacturing footprint and its projection of returning to organic sales growth in 2025 could potentially stabilize the stock in the long term, but the short term impact is negative.
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