Moderna (MRNA.O), opens new tab on Thursday said it expects sales of between $2.5 billion and $3.5 billion next year, and forecast that new product launches would drive an average annual growth rate of 25% in revenue between 2026 and 2028.
The vaccine maker last month projected sales of $3 billion and $3.5 billion for this year, which will be its lowest annual revenue since Moderna launched its COVID-19 vaccine in late 2020 - the company's first commercial product.
Analysts on average expect the company will generate revenue of $3.27 billion and $3.74 billion for 2024 and 2025, respectively, according to LSEG data.
Shares of Moderna were down 7% at $73.94 in premarket trading.
The company said last year it expected to return to sales growth in 2025.
Moderna Chief Financial Officer James Mock said next year's forecast reflects the uncertainty of the COVID and respiratory syncytial virus (RSV) markets in the U.S., as well as Moderna's prediction that the 10 new products it expects to be approved by 2027 will start to generate meaningful revenue in 2028.
Moderna said it plans to submit an application to the U.S. Food and Drug Administration this year to expand approval for its RSV shot to high-risk adults under the age of 60, following new data from a late-stage trial.
