By Connor Hart

Moderna swung to a loss and logged lower sales in the third quarter as it works to expand its offerings amid weakening demand fuor its Covid-19 vaccine.

The biopharmaceutical company on Thursday posted a loss of $200 million, compared with a profit of $13 million a year earlier. Its quarterly loss came in at 51 cents a share, ahead of analyst expectations for a loss of $2.12 a share, according to FactSet.

Revenue fell 45% to $1.02 billion. Wall Street had modeled $879.6 million.

The decline in sales was primarily due to lower Covid-19 vaccine sales, the Cambridge, Mass., company said. During the recent quarter, it launched mNEXSPIKE--a new Covid-19 vaccine for adults ages 65 and older who are at higher risk of severe Covid-19.

In the U.S., the decrease in revenue reflected reduced vaccination rates compared with last year. Outside of the U.S., the drop largely stemmed from the completion of certain government contracts and the timing of deliveries.

Looking forward, Moderna narrowed its full-year revenue outlook to $1.6 billion to $2 billion, from between $1.5 billion and $2.2 billion previously. Analysts are looking for $1.89 billion.

Chief Executive Stephane Bancel said the company is benefiting from its ongoing cost-reduction initiatives.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

November 06, 2025 07:00 ET (12:00 GMT)

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