Moderna on Thursday posted a steep loss for the third quarter as it recorded a large write-down due to unused doses of its Covid vaccine, its only marketable product, and unveiled plans to scale back production of the shot.
Shares of Moderna closed 6% lower on Thursday.
Moderna’s total revenue for the period topped Wall Street’s expectations, even amid plummeting demand for its shot. Its outlook for next year, however, came in lower than what analysts were projecting.
Here’s what Moderna reported for the third quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv:
- Loss per share: $9.53. That may not be comparable to the…