12:10 PM EDT, 08/01/2025 (MT Newswires) -- Moderna ( MRNA ) on Friday lowered the top end of its 2025 revenue guidance range due to a delay in COVID-19 vaccine shipments to the UK, sending the company's shares lower.

The drugmaker now expects full-year revenue of $1.50 billion to $2.20 billion, reducing the high end of its prior outlook from $2.50 billion. The FactSet-polled consensus is for revenue to decline to $2.04 billion from the previous year's $3.24 billion.

The rescheduling of COVID-19 vaccine deliveries to the UK to the first quarter of 2026 from the second half of this year prompted the $300 million reduction at the high end of the guidance range, Chief Financial Officer Jamey Mock said at an earnings conference call, according to a FactSet transcript.

The stock was down 7.5% intraday Friday, taking its year-to-date loss to 34%.

"The timing shift for the UK shipments is due to the government's use of their fiscal year minimum ... product purchase for the spring campaign in 2026," he said. "Importantly, the timing shift does not impact the total value of our long-term, multi-year contract with the UK government."

The updated outlook also "continues to reflect the uncertainties in vaccination rates, the competitive market environment, the size of the (respiratory syncytial virus) market and timing of licensure of our factories and product approvals in Australia and Canada," Mock said.

For the June quarter, Moderna's ( MRNA ) per-share loss narrowed to $2.13 from $3.33 a year earlier. The Street expected a loss of $2.89. Revenue declined 41% to $142 million, but came in ahead of analysts' $110.8 million view.

Product sales fell to $114 million from $184 million amid lower COVID vaccine sales. Moderna ( MRNA ) said in a statement that it expects vaccine demand to be concentrated in the second half of the year, "aligning with the fall and winter seasons as the vaccine continues to transition into a seasonal respiratory product."

Chief Executive Stephane Bancel said on the call the results were were in line with the company's expectations and "reflect the highly seasonal nature of our respiratory vaccine business."

"We expanded our cost reduction plan well beyond what we announced in the first quarter," he told analysts. "We estimate that these measures will take an additional $400 million out of 2025 cost structure we previously laid out."

On Thursday, Bancel announced a plan to reduce Moderna's ( MRNA ) global workforce by about 10%. The company aims to finish this year with an employee count of under 5,000 versus 5,800 at the beginning of 2025, Mock said on the call.

Price: 27.16, Change: -2.40, Percent Change: -8.12