Moderna’s stock (NASDAQ: MRNA) has decreased over 80% in the last year, falling from a 52-week high of approximately $150 in June 2022 to $27 currently. This decline is primarily due to a sharp decrease in demand for its COVID-19 vaccine, resulting in revenue dropping from $18.9 billion in 2022 to $3.1 billion over the past twelve months, and projected sales of around $2.1 billion in 2025.
In January 2025, Moderna further reduced its sales forecast by $1 billion and pushed back its break-even goal by two years due to delays in key product developments. The company’s heavy reliance on its COVID-19 vaccine, which was its only commercially available product until the recent introduction of an RSV shot, has made it vulnerable as the market stabilizes post-pandemic. Additionally, Moderna reported an operating income of -$3.7 billion, with an operating margin of -118.8% over the last four quarters.
