In a note to employees on Thursday, Moderna Inc. said it was laying off about 10% of its global workforce as part of the biotechnology company's plan to cut costs by $1.5 billion over the next couple of years.
Moderna said it plans to slash roughly 10% of its global workforce by the end of the year, as Covid shot sales continue to dwindle and the company grapples with uncertainty in the vaccine market. In a memo to employees, Moderna CEO Stephane Bancel said the company expects to have fewer than 5,000 workers by the end of the year.
Covid-19 vaccine makers Moderna and BioNTech became household names almost overnight. Moderna and BioNTech have spent their Covid vaccine windfalls differently, with Moderna investing in its own mRNA technology and BioNTech pursuing deals to diversify its pipeline.
Evaluate the expected performance of Moderna (MRNA) for the quarter ended June 2025, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.
MRNA's second-quarter results are likely to spotlight a sharp decline in Spikevax sales, RSV uptake and key pipeline milestones.
Moderna (MRNA) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
In the latest trading session, Moderna (MRNA) closed at $34.01, marking a -1.9% move from the previous day.
In the most recent trading session, Moderna (MRNA) closed at $31.25, indicating a -2.95% shift from the previous trading day.
Moderna's stock has faced heavy pressure from negative headlines, regulatory setbacks, and political uncertainty, but recent FDA approvals have stabilized sentiment. The company now boasts three approved respiratory vaccines, a strong cash position, and a robust pipeline, supporting a potential long-term growth narrative beyond COVID. Key risks remain: political headwinds, commercial execution, clinical trial outcomes, and high cash burn could impact future performance and investor confidence.
The latest trading day saw Moderna (MRNA) settling at $33.64, representing a -1.87% change from its previous close.
Moderna stock jumps 4.5% as the FDA grants full approval for its COVID-19 vaccine in high-risk individuals aged six months to 11 years.
Shares of Moderna (NASDAQ:MRNA) have been long forgotten about since its demand for COVID shots fell off a cliff more than three years ago.