(Boursier.com) — Moderna drops 7% from $71 on Wall Street at the start of the session, after having plunged to $62.5. The American laboratory has just warned about lower-than-expected sales of its Covid-19 vaccine, at the bottom of the range of previous expectations. The Massachusetts group also pushed back the launch date of its flu vaccine to 2025, which it had previously announced would be available in 2024. Moderna especially indicated that its new revenue forecasts of $6 billion for 2023 were based on the expectation that at least 50 million Covid-19 vaccines would be administered in the United States. This vaccine is its only marketed product. The pharmaceutical group previously targeted a turnover of between 6 and 8 billion dollars.
Moderna intends to return to sales growth in 2025, following the launches of new vaccines, then achieve profitability the following year. This prospect seems a little distant for the markets, which explains the additional correction of the day, while the stock has already plunged this year by almost 60% on Wall Street.
For the third quarter, Moderna deplored a net loss of $3.6 billion, widened by non-cash charges of $3.1 billion related to the resizing of production capacity and tax reserves. The loss per share reached $9.53. Moderna posted revenues of $1.8 billion in the third quarter, beating consensus.
The Cambridge group anticipates revenues of $4 billion next year from sales of the Spikevax covid vaccine and those of the respiratory syncytial virus (RSV) vaccine, which is not yet approved and is due to be launched next year. next if the data is positive. Experts anticipate more than $100 million in sales for each of Moderna’s new RSV and flu vaccines, which have not yet been approved. 2025 growth expectations are based on anticipated revenues from these products as well as its upcoming combined flu and Covid-19 vaccine.
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