01:02 PM EDT, 08/01/2024 (MT Newswires) -- (Updates to add stock move in the headline and the first paragraph.)

Moderna ( MRNA ) shares dropped nearly 21% in recent Thursday trading after the company reported its results for Q2.

The company reported a Q2 loss Thursday of $3.33 per diluted share, narrowing from a loss of $3.62 a year earlier.

Analysts polled by Capital IQ expected a loss of $3.35 per share.

Revenue for the quarter ended June 30 was $241 million, down from $344 million a year earlier.

Analysts surveyed by Capital IQ expected $134.9 million.

The pharmaceutical company said it expects 2024 product sales of its respiratory infections vaccines of $3 billion to $3.5 billion.

Price: 94.56, Change: -24.66, Percent Change: -20.68