The modern logo is seen in Warsaw, Poland, on April 9, 2025.
Jakub porzycki | Nurphoto | Getty images
Modern On Friday he dropped the upper part of his income perspective of 2025 due to a delay in vaccine shipments to the United Kingdom, but exceeded Wall Street expectations for the second quarter, since it works to reduce costs.
Modern actions fell more than 9% on Friday.
The biotechnology company now expects the income of the whole year to be between $ 1.5 billion and $ 2.2 billion, $ 300 million at the top of that range. The results occur a day after Modern announced plans to reduce 10% of its workforce, which adds to a series of cost cuts as the company dealt with the sales of Covid vaccines and tries to bring more products to the market.
In an interview, modern financial director Jamey Mock said that instead of sending spring reinforcements Covid to the United Kingdom at the end of this year, the company will send those blows to the country in the first quarter of 2026. He said that there are no changes in the general value of the contract between Modern and the United Kingdom.
“It's just moving deliveries from our fiscal year to the end of the fiscal year, which turns out to be next year's first quarter, to meet the supply for spring reinforcement in the United Kingdom,” Mock said.
Also on Friday, the company said it lost less than the analysts expected for the second quarter and registered income that exceeded estimates.
This is what Modern reported for the second quarter compared to what Wall Street expected, based on an LSEG analysts survey:
- Loss by action: $ 2.13 against an expected loss of $ 2.97
- Revenue: $ 142 million compared to $ 113 million
Modern published sales in the second quarter of $ 142 million, 41% less than the same period of the previous year due to the decrease in Covid vaccines sales. The vast majority of the second quarter revenues came from his Covid shot, which raised $ 114 million for the period.
That exceeded the $ 89 million that analysts expected for the period, according to Streetacount estimates.
But the company said that its vaccine for the respiratory syncitial virus had “insignificant” sales, compared to the $ 5.9 million that analysts expected, according to Streetacount estimates.
The company registered a net loss of $ 825 million, or $ 2.13 per share, for the second quarter. That is compared to a net loss of $ 1.3 billion, or $ 3.33 per share, reported for the period of the previous year.
Mock said modern efforts to reduce costs helped the company overcome estimates for quarter. He said that the operating expenses of the second quarter of the company fell 27% to $ 1.1 billion of $ 1.6 billion during the same period of the previous year.
“If there is something to really read, from a first half [of 2025] The perspective, from a financial perspective, is on the side of the costs, “Mock said.
