Moderna Dives as 2021 Vaccine Forecast Cut, Revenue Misses
- Delivery growth slows in shift from U.S. to international
- Jolt to vaccine maker’s shares adds to recent market pressure
The Moderna Inc. Covid-19 vaccine.
Photographer: Angel Navarrete/BloombergThis article is for subscribers only.
Moderna Inc. jolted the market with sales and earnings that badly missed analysts’ estimates as it lowered its forecast for 2021 Covid-19 vaccine sales, a third-quarter performance that put it further behind vaccine rivals Pfizer Inc. and BioNTech SE.
Moderna shares slid as much as 17% as of 9:32 a.m. in New York, the most intraday since August, after it said vaccine sales would be between $15 billion and $18 billion in 2021. Previously, the company had said it had signed agreements for $20 billion in anticipated 2021 sales of its shots.