Moderna Lowers 2025 Sales Guidance by $1 Billion
Moderna Inc. has lowered its 2025 sales guidance by roughly $1 billion due to potential headwinds later this year. The biotech company now expects 2025 revenue of between $1.5 billion and $2.5 billion, with the majority of those sales coming from its Covid shot and newly launched vaccine for respiratory syncytial virus (RSV) in the second half of the year.
The guidance is down from a prior forecast range of $2.5 billion to $3.5 billion issued in September. Moderna’s CFO, Jamey Mock, cited four factors that could weigh on sales, including increased competition in the Covid market, falling vaccination rates, timing around manufacturing contracts with countries, and uncertainty around RSV revaccination recommendations.
Despite the lowered guidance, Moderna expects to reduce 2025 cash cost expenses by $1 billion and plans for additional 2026 cost reductions of $500 million. The company is also investing in its pipeline, with plans for 10 new product approvals over the next three years, including a combination shot targeting Covid and the flu and a “next-generation” Covid shot.
Moderna’s shares closed nearly 17% lower on Monday, with other vaccine stocks also falling. The company’s revenue from its two shots met its forecast for 2024, coming in at around $3 billion to $3.1 billion. However, those sales represent a steep drop off from the $6.7 billion that Moderna’s Covid shot booked in 2023 and the $18 billion it generated in 2022.
