Moderna Misses Earnings, Cuts COVID Vaccine Output, But Eyes mRNA Pipeline for Future Growth

Moderna missed Q3 earnings expectations and is reducing manufacturing infrastructure due to lower COVID-19 vaccine demand.

The company expects to break even financially in 2026 based on pipeline advancement and disciplined investments.

Moderna's COVID-19 vaccine sales totaled $1.8 billion in Q3 with 45% market share year-to-date.

The company is focused on advancing its mRNA pipeline, including RSV and flu vaccines, to return to sales growth in 2025.

Moderna reported a $3.6 billion Q3 net loss, including a vaccine inventory write-down, and stock traded down 8% on Thursday.