Moderna Inc. on Thursday forecast declining COVID-19 vaccine sales and rising costs for 2023, raising concerns the U.S. biotech company could post a loss this year, and its shares fell 7 percent.
Moderna forecast $6 billion in costs for the year, $1 billion more than the revenue it expects to take in from sales of the COVID-19 shot.
The sales forecast implies a “possible EPS net loss” this year compared to the huge profit its COVID-19 vaccines drove during its peak, Jefferies analyst Michael Yee said in a note.
However, there is a potential for positive cash flow this year if Moderna is able to get more advanced purchase agreements for its COVID-19 shots, Yee said. Moderna expects additional sales from markets including the United States, Europe, and Japan….