Moderna shares plummet 12% after lower vaccine delivery forecasts

04-11-2021

The pharmaceutical company Moderna lowered its sales forecast for the coronavirus vaccine. After this news, investors began to sell shares en masse.

The biotech company’s stock fell more than 12%. On the NASDAQ exchange at 07:00 L.A., Moderna’s stock price was hovering around $300. The collapse in quotations came after the release of the financial report for the third quarter of this year. The updated sales forecast was under $18 billion, $2 billion less than the previously forecast figure. The expected number of vaccine doses to be delivered in 2021 also decreased from 0.8-1 billion to 0.7-0.8 billion. 

Moderna share price dynamics
Moderna share price dynamics

Moderna’s revenue in the past three months was $5 billion. The company earned $157 million in the same period last year, according to the vaccine manufacturer’s financial report. 

Quarterly sales of the COVID-19 drug reached 208 million doses. Company officials note that deliveries in 2022 may be delayed because of the tight timeline for current orders. Moderna expects revenue of more than $20 billion next year.

Share article with friends


Technical Analysis

UP