Feb 14 (Reuters) - Moderna ( MRNA ) reported a

bigger-than-expected quarterly loss on Friday, hit by a charge

related to its efforts to scale down manufacturing amid

weakening demand for its COVID-19 vaccine.

The company reported a quarterly loss of $2.91 per share,

compared to analysts' expectations of a $2.68 per share loss,

according to data compiled by LSEG. The company posted a profit

of 55 cents per share last year.

Finance chief James Mock in an interview attributed the loss

to a $238 million non-cash charge related to the termination of

its agreement with a contract manufacturer.

"As we looked at our manufacturing footprint, we believed we

did not need that particular (manufacturer) and tried to

eliminate the potential waste related to that capacity," he

said, declining to identify the manufacturer.

Moderna ( MRNA ) first announced it would start scaling down

manufacturing of its COVID-19 vaccine, Spikevax, in late 2023,

including at Lonza's facility in Switzerland, as part

of a larger cost-cutting effort that reduced the cost of sales

by 47% to $1.5 billion last year.

The vaccine maker plans to keep lowering expenses this year,

saying in January that it would cut cash costs by $1 billion, as

well as by an additional $500 million in 2026. It also slashed

its 2025 sales forecast by $1 billion at that time.

Moderna's ( MRNA ) stock fell nearly 60% last year as sales of its

COVID-19 vaccine crashed from their peak during the pandemic and

its respiratory syncytial virus (RSV) shot got less uptake than

expected.

Shares of Moderna ( MRNA ), along with other vaccine makers, dropped

further this year as lawmakers advanced President Donald Trump's

pick for Health and Human Services Secretary, Robert F. Kennedy,

through Congress. Kennedy, a vaccine critic, was confirmed to

the role on Thursday.

Moderna's ( MRNA ) total revenue fell nearly 66% to $966 million for

the quarter, but beat analysts' expectations of $942.84 million.

Sales included $923 million for the company's COVID shot and $15

million for its RSV vaccine.

The company said the decrease was mostly due to the earlier

launch of its updated COVID-19 vaccine in the U.S., which

shifted sales into the third quarter, but also due to lower

international sales.

Cash, cash equivalents and investments at the end of 2024

totaled $9.5 billion, Moderna ( MRNA ) said.

The company said it expected approval for use of its RSV

vaccine in high-risk adults aged 18 to 59 years old later this

year.

(Reporting by Mariam Sunny and Christy Santhosh in Bengaluru,

and Patrick Wingrove in New York; Editing by Sriraj Kalluvila)