07:33 AM EDT, 09/12/2024 (MT Newswires) -- (Corrects the Capital IQ analysts' fiscal 2025 revenue estimate in the second paragraph.)

Moderna ( MRNA ) said Thursday it is reducing its annual R&D expense by about $1.1 billion starting in 2027 in light of "recent commercial challenges."

The company now expects 2025 revenue of $2.5 billion to $3.5 billion. Analysts polled by Capital IQ expect $3.95 billion.

Moderna ( MRNA ) shares fell 6.4% in recent premarket activity.

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