Moderna misses on 3Q, shaves 2022 vaccine expectations

Sliding COVID-19 vaccine sales and rising expenses for Moderna combined to produce a third quarter that missed Wall Street expectations.

The vaccine developer also said Thursday that it was dialing back its revenue expectations from advance purchase agreements for this year, as some sales will be deferred to 2023.

Moderna also said Thursday that between $2 billion and $3 billion in vaccine sales will be deferred to next year, and the company now expects between $18 billion and $19 billion in revenue from advance purchase agreements this year.

That’s down from the approximately $21 billion it forecast in August.