Moderna Shares Sink as Company Forecasts 2024 Sales Decline
- Vaccine maker sees revenue falling in 2024, rebounding in 2025
- CEO says company wants to ‘reset the business cost structure’
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Moderna Inc. shares tumbled after the company said it expected revenue to fall sharply next year to well below what analysts were expecting, raising concerns about the company’s plan to pay for its ambitious pipeline.
The vaccine maker sees revenue falling to about $4 billion next year, with sales growth resuming in 2025 as new vaccines hit the market. Analysts were expecting about $6 billion in sales next year.