Moderna on Monday lowered its 2025 sales guidance by roughly $1 billion due to a few potential headwinds later this year, as the biotech company continues to cut costs and expand its portfolio.
Moderna now expects 2025 revenue to come in between $1.5 billion and $2.5 billion, most of which will come in the second half of the year. The majority of those sales will come from Moderna’s Covid shot and newly launched vaccine for respiratory syncytial virus, according to a release.
The guidance is down from a prior forecast range of $2.5 billion to $3.5 billion issued in September. At the time, the company said it expects to break even on an operating cash basis in 2028 — pushed back from 2026 — with $6 billion in revenue.
Shares of Moderna plunged 18% in premarket trading Monday. Other vaccine stocks also fell, with Novavax down 6% ahead of market open, BioNTech down 3% and Pfizer down fractionally.
“As we head into 2025, there are a handful of uncertainties that we are planning for,” Moderna CFO Jamey Mock told CNBC. “As of this time period, we are planning for them to be headwinds. They could be tailwinds, but right now we’re seeing them as headwinds.”
Mock pointed to four factors that could weigh on sales, including increased competition in the Covid market. He said Moderna’s share of the U.S. retail market for Covid shots fell to 40% at the end of 2024 from 48% in 2023, and the company is preparing for another decline this year.
He noted Sanofi will co-commercialize Novavax’s Covid vaccine worldwide under a new agreement, which could potentially make that shot more competitive.
Source: https://www.cnbc.com/2025/01/13/moderna-lowers-2025-sales-forecast.html
23 views