Biotech company Moderna has revised down its 2022 revenue forecast due to agreements signed for the early sale of its Covid-19 vaccine as a result of the delay related to short-term supply constraints, according to the company, which saw net profit fall 68.7% to $1.043 billion (1.056 billion euros) between July and September.
In the third quarter, Moderna’s revenues totaled 3.364 billion dollars (3.406 billion euros), down 32.3% from sales posted in the same period last year.
Thus, in the first nine months of 2022, the biotech company posted a net profit of 6.897 billion dollars (6.983 billion euros), 6% less than a year earlier, despite a 25.9% increase in revenues to 14.179 billion dollars (14.356 billion euros).
For the full year, Moderna expects to achieve revenues of between $18 billion and $19 billion (18.224 billion and 19.237 billion euros), compared to the previous expectation of around $21 billion (21.262 billion euros), «following the delay of certain deliveries until 2023 due to near-term supply constraints.»
Moderna’s shares, which fell more than 9% at the opening of Wall Street, recovered almost all the lost ground and wiped out the losses to just over 1%.
