Moderna’s Cost-Cutting Measures Overshadowed by Pipeline Setbacks and Lowered Revenue Forecast
Moderna's Q3 earnings revealed a mixed picture as the biotech firm surpassed analyst expectations while simultaneously downgrading its 2025 revenue outlook. The company reported $1.02 billion in revenue, beating estimates of $909.97 million but marking a year-over-year decline. A net loss of $200 million accompanied the results.
Bernstein maintained its Market Perform rating with a $25 price target, acknowledging Moderna's progress in reducing costs below consensus expectations. The firm's COVID-19 vaccine market share appears stable at 40%, though overall vaccination rates continue their downward trajectory.
Strategic setbacks emerged as Moderna discontinued its CMV vaccine program due to efficacy concerns, signaling pipeline development challenges. The company did demonstrate operational discipline, with both cost of goods sold and R&D expenses coming in below projections.
