Moderna’s journey from pandemic powerhouse to pharma flop

The vaccine maker’s shares hit the lowest level since April 2020.

2 Min Read
Moderna

Remember during Covid, when Moderna was flexing like the Nvidia of pharma? Yeah, those days are gone.

Once valued at over $190 billion, the drugmaker that gave us one of the essential Covid vaccines is now a shadow of its former self. 

On Monday, the stock plummeted 16.8% to $35 — its lowest level since April 2020 — after the company issued a 2025 revenue forecast that was way below analysts’ expectations.

Moderna stock plummets to pre-Covid times.

Read more: Novo’s new weight-loss drug data makes the stock thinner

Revenues have collapsed from $18.5 billion in 2021 to an estimated $2.9 billion in 2025, with billions in losses piling up. 

Even if revenues bounce back between 2026 and 2028, losses will likely continue every year unless Moderna can pull off growth that is strong and consistent enough to clear the red backlog. Anything less will be a tough pill to swallow for investors. 

Edited by Lin Noueihed. If you have any tips, ideas or feedback, please get in touch: talk-to-us@moniify.com