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Moderna shares sink amid COVID forecasts, trial news

February 23, 2023


Moderna on Thursday reiterated its expectation that sales of its COVID-19 vaccine will total at least $5 billion in 2023, about a third of what the shot generated last year.

The forecast, which matches guidance given by the biotechnology company last month at the J.P. Morgan Healthcare Conference, came alongside a fourth quarter earnings report that appeared to disappoint investors. Shares in Moderna fell by 8% in Thursday morning trading, and are down by 25% over the past month, during which the company revealed mixed results for an experimental influenza vaccine.

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