MRNA - Moderna Struggles With Weaker COVID-19 Vaccine Demand Expects To Return To Growth In 2025 Stock Plunges | Benzinga
Moderna Inc (NASDAQ: MRNA) shares are trading lower after the company reported a deeper Q3 loss of $(9.53), down from EPS income of $2.53. The analysts' estimate stood at $(1.93).
The company's Q3 sales reached $1.8 billion (all from COVID-19 vaccine), beating the consensus of $1.4 billion and down from $3.4 billion a year ago.
Q3 cost of sales was $2.2 billion. Moderna said it made substantial progress during the quarter in resizing its COVID-19 manufacturing footprint to accelerate gross margin expansion toward its longer-term target of 75-80%.
In addition to $0.4 billion in unit-driven ...