11:49 AM EST, 01/13/2025 (MT Newswires) -- (Updates with the recent stock move in the headline and the first paragraph.)

Moderna ( MRNA ) shares were down nearly 22% in recent Monday trading after the company said it now expects 2025 revenue to be between $1.5 billion and $2.5 billion, down from the previous range of $2.5 billion to $3.5 billion.

Analysts surveyed by FactSet expect $2.92 billion.

The drugmaker said it is accelerating its cost efficiency and prioritization programs, with projected cash cost reductions of $1 billion in 2025.

The company said it expects to end 2025 with cash and investments of about $6 billion.

Moderna ( MRNA ) will report its Q4 financial results on Feb. 14.

Price: 33.12, Change: -9.14, Percent Change: -21.62