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Moderna Stock Sinks On Lowered 2024 Outlook, Cites Low European Sales, Competitive RSV Vaccine Market
On Thursday, Moderna Inc (NASDAQ:MRNA) stock plunged as the company lowered its 2024 sales guidance due to weaker demand for its COVID-19 vaccines.
Moderna now projects 2024 net sales of between $3 billion and $3.5 billion from its respiratory franchise versus previous guidance of about $4 billion, citing low EU sales in 2024, potential revenue deferrals for certain international sales into 2025, and an increasingly competitive environment for respiratory vaccines in the U.S.
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