*

Moderna ( MRNA ) third quarter revenue falls 45% from a year ago

*

COVID-19 vaccine sales of $971 million top diminished

expectations

*

CFO says late CDC guidance hurt COVID vaccine sales

By Patrick Wingrove

Nov 6 (Reuters) - Moderna ( MRNA ) lowered the top end

of its 2025 revenue forecast by $200 million on Thursday, citing

weaker-than-expected sales of its COVID-19 vaccine in the U.S.

as Americans struggled to access the shots.

The company said it now expects revenue of $1.6 billion to

$2 billion for the year, down from its previous forecast of $1.5

billion to $2.2 billion.

Moderna ( MRNA ) reported third-quarter revenue of $1 billion, a 45%

drop from a year ago, but ahead of analysts' estimates of

$886.54 million, according to LSEG data.

Moderna ( MRNA ) reported a quarterly loss of 51 cents per share, far

smaller than analysts' expectations of a $2.11 loss. The

Cambridge, Massachusetts-based vaccine maker posted a profit of

3 cents a share in the year-ago quarter.

Moderna ( MRNA ) announced its results as Americans faced confusion

and roadblocks at pharmacies, driven by new U.S. guidelines that

scaled back broad support for COVID-19 shots, contributing to

the lowest vaccination rates since they were introduced.

In August, the U.S. Food and Drug Administration limited

updated COVID shots to seniors and high-risk groups. In

September, a revamped group of vaccine advisers to the Centers

for Disease Control and Prevention recommended that they be

given only after shared decision-making with a doctor, adding a

roadblock to easy access.

Pfizer ( PFE ) and Gilead Sciences ( GILD ) have warned of

slumping demand for COVID-19 shots and treatments. Earlier this

week, Pfizer ( PFE ) cited falling Comirnaty vaccine sales due to lower

infection rates and reduced U.S. vaccination guidance.

Moderna ( MRNA ) Chief Financial Officer James Mock said in an

interview that the timing of the CDC recommendation, which came

later than expected, played a role in declining U.S. sales.

Mock said the revenue forecast cut was offset by a projected

$100 million bump on the lower end of its projected range for

sales outside the U.S.

Moderna's ( MRNA ) COVID-19 shot brought in $971 million in the third

quarter, beating Wall Street expectations of $783 million. At

its pandemic peak in 2022, the vaccine generated $18.4 billion

in sales.

Moderna ( MRNA ) has been banking on revenue from newer vaccines

using mRNA technology, including mRESVIA for RSV and an

experimental COVID/flu combination shot, to make up for

declining COVID revenue.

But the company reported $2 million in third-quarter sales

of the respiratory syncytial virus vaccine, well below the $20.9

million analysts expected, as it struggled to compete with

Pfizer's ( PFE ) Abrysvo and GSK's Arexvy.

Moderna ( MRNA ) said it was awaiting further guidance from the FDA

on refiling for its combo shot, after withdrawing its

application in May to wait for efficacy data from a late-stage

trial of its influenza vaccine.

Last month, the company said it would stop developing an

experimental vaccine to prevent cytomegalovirus, a virus that

can cause birth defects, after it failed to meet the main goal

of a late-stage trial.

Moderna ( MRNA ) on Thursday also trimmed its adjusted operating

expenses outlook for 2025 by $700 million to a range of $5.2

billion to $5.4 billion.