Moderna stock tumbles after quarterly earnings show revenue declines

Previously, the COVID-19 vaccine maker estimated end-of-year revenue would land at $21 billion. But, on Thursday, it changed those expectations to between $18 and $19 billion. The company cited supply chain issues that have delayed its vaccine distribution for the revenue decline. Overall third-quarter net income for Moderna stands at $1.043 billion, down from $3.333 billion, or $7.70 a share, from the prior year. Revenue also fell from $4.9 billion to $3.3 billion by the end of September.

The company's share so far this year has fallen by 42% as its cash positions stand at $17 billion, a decline from $18.1 billion the previous quarter.

(US.MRNA)