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%.
The company will make a low-single-digit percentage royalty payment to the NIH on COVID vaccines sales going forward, it said, and expects to spend $4.5 billion on research and development this year.
Oppenheimer analyst Hartaj Singh also said the company could have "negative earnings" in 2023, putting the share price at risk this year and next.this year from $18.4 billion in 2022 as much global demand for initial shots and boosters has been met, while governments and other agencies cut purchases.
It plans to file for regulatory approval of the influenza vaccine this year, but does not expect sales for the 2023 flu season.
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