Trending: Hampered by Supply Constraints, Moderna Cuts Sales Outlook
November 03 2022 - 2:23PM
Dow Jones News
13:53 ET -- Moderna Inc. is one of the most talked about
companies in the U.S. across all news items in the last 12 hours,
according to Factiva data. The pharmaceutical company said Thursday
that supply constraints for its Covid-19 vaccines could reduce 2022
sales by up to $3 billion. Overall for the third quarter, Moderna
said its net income fell to $1 billion, or $2.53 a share, compared
with $3.3 billion, or $7.70 a share, a year earlier. The company
said its R&D costs rose 57% in the quarter, but the results of
various experimental vaccine studies are due out in the coming
weeks and months. Moderna shares were down 1.9% at $145.74 at 13:53
ET. Dow Jones & Co. owns Factiva. (susan.solan@wsj.com)
(END) Dow Jones Newswires
November 03, 2022 14:08 ET (18:08 GMT)
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