The Modanya logo will be seen in Warsaw, Poland on April 9, 2025.
Jakub Porzycki | nuphoto | Getty Images
Moderna On Friday, it lowered the high-end revenue outlook for 2025 as vaccine shipments were delayed to the UK, but beat Wall Street’s expectations for the second quarter and cut costs.
Moderna shares fell more than 6% in pre-market trading on Friday.
Biotech Company currently expects full-year revenue to fall by between $1.5 billion and $2.2 billion, at the top of its range. The result is an increase in a series of cost savings as Modanya announced plans to cut 10% of its workforce, as the company tackles lower sales of its Covid vaccines and tries to bring more products to the market.
In an interview, Moderna CFO Jamey Mock said instead of shipping Spring Covid boosters to the UK at the end of this year, the company will send those jabs to the country in the first quarter of 2026.
“We’ll just move delivery from the end of the fiscal year, the first quarter of next year, to the end of the fiscal year, to meet the UK’s supply of spring boosters,” Mock said.
It also said on Friday that it recorded revenues that exceeded estimates, losing less than expected by analysts in the second quarter.
Based on an analyst survey by LSEG, Moderna reported in the second quarter compared to what Wall Street had expected:
Loss per share: $2.13 vs. $2.97777 Loss loss: $142 million vs. $113 million forecast
Moderna’s second quarter sales were $142 million, down 41% from the same period a year ago, as it reduced Covid vaccine sales. The majority of second quarter revenue came from Covidshot, which spent $114 million over that period.
StreetAccount estimates that exceeded the $89 million analysts had been expecting for that period.
However, the company said the respiratory syncytial virus vaccine has “negligible” sales compared to the $5.9 million analysts had hoped.
The company recorded a net loss of $825 million, or $2.13 per share in the second quarter. This is compared to a net loss of $1.3 billion, or a net loss of $3.33 per share. This is reported year-on-year.
Mock said efforts to reduce Moderna’s costs will help the company beat quarterly estimates. He said the company’s second quarter operating expenses were $1.1 billion, down 27% from $1.6 billion in the same period last year.
“If there’s something I really need to read from the first half [of 2025] The perspective is on the cost side from a financial standpoint,” Mock said.
