Shares of Moderna tumbled in early market activity Monday after the vaccine maker predicted a steeper-than-expected sales drop in the recent year.
Moderna said it expects 2025 turnover to range between $1.5 billion and $2.5 billion after hitting as much as $3.1 billion last year.
Analysts expect, on average, $2.92 billion in turnover for 2025, according to FactSet.
The business also said it was speeding up and expanding a expense-cutting schedule. It expects to cut money costs by $1 billion in the recent year, with additional cuts planned in 2026.
Moderna pulled in most of its turnover last year from its COVID-19 vaccine, Spikevax, which brought in more than $3 billion in sales. Regulators also approved a Moderna vaccine for RSV, or respiratory syncytial virus. The business said that generated minimal sales in the year.
Moderna made its announcement Monday ahead of a showcase at the annual J.P. Morgan Healthcare Conference in San Fransisco. The business will specific its fourth-quarter results on Feb. 14.
Moderna is a couple years removed from pulling in more than $19 billion in sales annually after initial vaccination rounds during the pandemic.
Shares of Cambridge, Massachusetts-based Moderna Inc. fell 19%, or $8.18, to $34.07 in morning market activity.
