Moderna wipes out pandemic gains on grim 2025 sales forecast
The company has struggled to keep up with high expectations after receiving a flush of government funding for COVID-19 vaccines in 2020.
It’s official: Moderna stock is trading like the pandemic never happened.
Shares plunged in premarket trading Monday, wiping out all their pandemic-era gains after the company laid out grim sales expectations for this year.
Moderna said Monday morning that it expects to post between $1.5 billion and $2.5 billion of revenue in 2025. Analysts had been forecasting nearly $3 billion. Both numbers are tiny compared to what it was making in 2021 ($18.4 billion) and 2022 ($19.2 billion) selling COVID-19 vaccines.
Moderna’s stock tanked premarket, down more than 15% to hit about $35 a share — a level it hasn’t been at since April 2020, when COVID-19 vaccines were a hope rather than a reality.
Moderna and Pfizer were given government contracts to quickly produce a COVID-19 vaccine in 2020. Both companies’ share prices shot up, but they haven’t been able to sustain the same impressive financials from 2021 and 2022 since then.
