MRNA - Why Moderna Shares Are Falling | Benzinga
Moderna Inc (NASDAQ:MRNA) shares are trading lower by 2.7% to $102.25 during Wednesday’s session in possible sympathy with BioNTech, which reported worse than expected fourth-quarter earnings.
In the fourth-quarter of fiscal year 2023 BioNTech SE reported lower earnings and sales than the previous year. The GAAP EPS was €1.90 (equivalent to $2.04), missing the consensus of $2.64, with sales at €1.479 billion (equivalent to $1.59 billion), missing the consensus of $1.99 billion.
This decline was partly due to inventory write-downs by Pfizer, reducing BioNTech’s revenues by €291.3 million for the quarter and €906.7 million for the fiscal year 2023…Read More