Moderna Reins in COVID-19 Vaccine Forecast, Causing Shares to Tumble

Moderna adjusted its forecast for COVID-19 vaccine sales due to lower-than-expected demand.

A woman receives a Moderna COVID-19 vaccine. Johanna Geron/Reuters/File photo

Moderna on Nov. 2 altered its COVID-19 vaccine sales forecast, causing shares to tumble.

Moderna estimated at least $6 billion in sales for its newest shot, which is drawing few takers so far. That estimate then changed from range of $6 billion to $8 billion forecast offered earlier this year.