Moderna Therapeutics Inc. reported better-than-expected second-quarter earnings, but its stock still fell more than 8% amid the market’s downturn. The biotech company announced a significant workforce reduction of 10%, resulting in fewer than 5,000 employees by the end of 2025.
In its earnings report, Moderna revealed an earnings per share loss of $2.13 on revenue of $142 million, a 41% decrease from the same period last year. Despite this, the company’s sales for its COVID-19 vaccine were slightly higher than expected at $114 million, including $88 million in US sales.
CEO Stéphane Bancel attributed the lower-than-expected sales to delayed shipments to the UK and expressed confidence that demand will be concentrated in the second half of 2025. The company updated its 2025 guidance to include an estimated revenue of $1.5 to $2.2 billion, with operating expenses ranging from $5.9 to $6.1 billion.
Moderna’s stock has fallen more than 30% this year, despite beating Wall Street earnings expectations. The company plans to use cost-cutting measures to drive future sales growth and is optimistic about its pipeline of infectious disease and oncology programs.
Source: https://qz.com/moderna-second-quarter-earnings-2025-layoffs