Moderna earns 69% less in the third quarter and cuts vaccine sales forecasts for COVID-19

The biotech company Moderna has revised down its revenue forecasts for 2022 due to the agreements signed for the early sale of its vaccine against Covid-19 following the delay linked to short-term supply limitations, as announced by the ‘company, that between July and September saw net profit decrease by 68.7%, to 1,043 million dollars (1,056 million euros).

In the third quarter, Moderna’s revenues totaled $ 3,364 million (€ 3,406 million), representing a reduction of 32.3% compared to sales recorded in the same period of the previous year.

In this way, in the first nine months of 2022, the biotech company achieved a net profit of 6,897 million dollars (6,983 million euros), 6% less than the previous year, despite its revenues having increased. by 25.9%, up to 14,179 million dollars (14,356 million euros).

Looking at the entire year, Moderna expects to reach revenues of between 18,000 and 19,000 million dollars (18,224 and 19,237 million euros), compared to the previous forecast of about 21,000 million dollars (21,262 million euros), “after the delay some deliveries until 2023 due to short-term supply limitations “.

Modern stocks, down more than 9% when Wall Street opened, recovered much of the lost ground and erased losses to just over 1%.

Europa Press