Moderna Revises Its 2024 Expected Net Product Sales To $3B-$3.5B From Its Respiratory Franchise Compared To Prior Guidance Of $4B
Portfolio Pulse from Benzinga Newsdesk
Moderna has revised its 2024 expected net product sales from its respiratory franchise to $3B-$3.5B, down from prior guidance of $4B. The revision is due to low EU sales, potential revenue deferrals, and increased competition in the U.S. Cost of sales is expected to be 40-50% of product sales, with R&D expenses at $4.5B, SG&A expenses at $1.3B, and capital expenditures at $0.9B. Year-end cash and investments are projected to be $9B.
August 01, 2024 | 10:39 am
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Moderna has revised its 2024 expected net product sales to $3B-$3.5B from its respiratory franchise, down from prior guidance of $4B. This revision is due to low EU sales, potential revenue deferrals, and increased competition in the U.S. The company also provided updates on cost of sales, R&D expenses, SG&A expenses, capital expenditures, and year-end cash projections.
The downward revision in expected net product sales is likely to negatively impact investor sentiment and the stock price in the short term. The factors driving the revision, such as low EU sales, potential revenue deferrals, and increased competition, indicate challenges ahead for Moderna's respiratory franchise.
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