Moderna stock fell on Friday after the struggling biotech company topped second-quarter forecasts but lowered full-year 2025 sales guidance.
Moderna reported a loss of $2.13 per share versus forecasts for losses of $2.96 a share. Revenue fell 41% to $142 million. Analysts polled by FactSet had projected a 53% drop to $112.5 million.
The biotech company lowered its full-year sales outlook by $300 million to a range of $1.5 billion to $2.2 billion, citing a delay in flu vaccine shipments.
Moderna plans to cut 10% of its workforce amid a falling cash balance. The company may need to raise capital, analysts say.
In early trades on the stock market today, Moderna stock fell 5% to near 28. Shares fell 8% on Thursday after the company disclosed job cuts in a letter to employees.
The biotech company has struggled as the Covid-19 vaccine market evaporates. It has lost billions of dollars annually since 2023.
Moderna stock has retreated 26% this year, and 78% over the past 12 months.
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