Moderna, Inc. (MRNA)
Pre-Market:
| Previous Close | 79.28 |
| Open | 76.15 |
| Bid | 79.48 x 500 |
| Ask | 79.60 x 500 |
| Day's Range | 77.44 - 79.88 |
| 52 Week Range | 62.55 - 170.47 |
| Volume | |
| Avg. Volume | 3,819,553 |
| Market Cap | 30.563B |
| Beta (5Y Monthly) | 1.67 |
| PE Ratio (TTM) | N/A |
| EPS (TTM) | -15.35 |
| Earnings Date | Oct 31, 2024 - Nov 04, 2024 |
| Forward Dividend & Yield | N/A (N/A) |
| Ex-Dividend Date | N/A |
| 1y Target Est | 123.05 |
Barrons.comModerna Pulls Back on R&D and Delays Timeline for Profitability. The Stock Tumbles.
Moderna on Thursday announced a major pullback in its research and development efforts, as the drugmaker seeks to stretch its cash to cover an extended period of losses. The company said it plans to cut research and development spending by 20% beginning in 2025, pausing a number of drug programs and discontinuing others. The company says those cuts will bring it to break even on an operating cash cost basis in 2028.
BloombergModerna slashes research budget as vaccine sales disappoint
(Bloomberg) -- Moderna Inc. aims to reduce its research and development budget by about 20% over the next three years as the biotech tries to find a path to profitability following disappointing vaccine sales. Most Read from BloombergHow Americans Voted Their Way Into a Housing CrisisFor Tenants, AI-Powered Screening Can Be a New Barrier to HousingAfter a Record Hot Summer, Pressure Grows for A/C MandatesChicago Halts Hiring as Deficit Tops $1 Billion Through 2025UC Berkeley Gives Transfer Stude
ReutersModerna expects up to $3.5B in 2025 sales
Moderna on Thursday said it expects sales of between $2.5 billion and $3.5 billion next year, and forecast that new product launches would drive an average annual growth rate of 25% in revenue between 2026 and 2028. The vaccine maker last month projected sales of $3 billion and $3.5 billion for this year, which will be its lowest annual revenue since Moderna launched its COVID-19 vaccine in late 2020 - the company's first commercial product. Shares of Moderna were down 7% at $73.94 in premarket trading.
