Moderna's revised forecast indicates it now expects to break even by 2028, two years later than previously predicted, highlighting ongoing challenges in the post-COVID-19 vaccine market.
The company plans to cut R&D spending by approximately 20%, from $20 billion to $16 billion from 2025 to 2028, as it prioritizes its vaccine portfolio.
With a revenue forecast for 2025 set between $2.5 billion and $3.5 billion, Moderna’s expectations fall short of Wall Street’s estimate of $3.87 billion, reflecting weaker market confidence.
After announcing these updates, shares of Moderna slid 12% in pre-market trading, part of a broader trend as the stock has dropped 20% year-to-date.
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