Shares in drug giant Moderna (MRNA) plummeted nearly 10% today after it reported a drop in Q2 sales.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
The company reported earnings for the period of -$2.13, beating expectations of -$3.03 but also recorded a 41.1% drop in year-over-year sales to $142 million. However, that still beat forecasts of $128.3 million.
Sentiment Hit
Investor sentiment was also hit by the company dropping its revenue guidance for the full year to $1.85 billion at the midpoint from $2 billion, a 7.5% decrease. It blamed the “timing of shipments.”
The decline was primarily driven by lower Spikevax COVID vaccine sales, which totaled $114 million in the quarter. Moderna said demand is expected to be concentrated in the second half of the year, aligning with the fall and winter seasons as the vaccine continues to transition into a seasonal respiratory product.
It also reported “negligible” RSV vaccine mRESVIA® sales in the second quarter of 2025.
The figures continue Moderna’s difficult year in comparison with its peers – see below.

“In the last three months, we advanced our pipeline with positive Phase 3 flu vaccine efficacy data and expanded our commercial portfolio with three new U.S. FDA approvals to drive future sales growth,” said Stéphane Bancel, Chief Executive Officer of Moderna. “Looking forward, we have important catalysts over the next six months across our infectious disease and oncology programs that will help us deliver on the promise of our mRNA platform for patients.”
Future Hopes
This includes Intismeran autogene, a personalized cancer therapy which is being developed in collaboration with Merck (MRK). This includes two non-small cell lung cancer Phase 3 studies and Phase 2 studies for high-risk muscle invasive and high-risk non-muscle invasive bladder cancer.
Cost of sales for 2025 is expected to be approximately $1.2 billion. Full-year 2025 research and development expenses are anticipated to be $3.6 to $3.8 billion, lowered from previous expectations of approximately $4.1 billion.
Year-end cash and investments for 2025 are projected to be approximately $6 billion.
Recently, Moderna announced an organizational restructuring that will reduce its global workforce by approximately 10%. The company anticipates a total headcount of less than 5,000 by the end of the year.
Better news came today for the group after Pfizer (PFE) and its German partner BioNTech (BNTX) lost their bid to overturn a ruling that their COVID-19 vaccine infringed one of Moderna’s patents at London’s Court of Appeal.
Is MRNA a Good Stock to Buy Now?
On TipRanks, MRNA has a Hold consensus based on 3 Buy, 12 Hold and 3 Sell ratings. Its highest price target is $198. MRNA stock’s consensus price target is $48.14, implying a 78.36% upside.
