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Moderna Lowers 2025 Revenue Forecast to $1.5B–$2.5B; Shares Plunge 20% Pre-Market

Jan 13, 2025, 12:31 PM

Moderna Inc. lowered its 2025 revenue forecast to a range of $1.5 billion to $2.5 billion, down from previous estimates of $2.5 billion to $3.5 billion and below analysts' expectations of $2.95 billion, due to slower-than-expected demand for its COVID-19 and RSV vaccines. The company also reported 2024 product sales of $3.0 to $3.1 billion and an ending cash balance of approximately $9.5 billion. In response to the reduced revenue outlook, Moderna plans to reduce its 2025 cash cost expenses by $1 billion and intends to implement additional cost reductions of $500 million in 2026. CEO Stéphane Bancel highlighted the company's focus on driving growth, with a pipeline of 10 vaccines. Following the announcement, Moderna's stock plunged up to 20% in pre-market trading, reaching its lowest levels since April 2020.