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MRNA Declines by 17% After Changes to Future Plans

Written By: ChartChamp

September 12, 2024

Moderna announced plans to cut $1.1 billion in expenses by 2027 as it adapts to a post-COVID business environment. The company aims to win approval for 10 new products by 2027 but will also pause or scrap some projects to manage R&D spending. Moderna’s shares dropped by over 17% following the news, reflecting concerns about its financial position and delayed profitability until 2028. Despite these cuts, Moderna reported positive results for its vaccines, including respiratory syncytial virus (RSV) and flu shots, with plans to file for approvals. The company expects revenue growth from new product launches between 2026 and 2028. MRNA’s stock has suffered month after month decline, and is approaching a key support zone between $55.80 and $62.62. I would give MRNA some time to bottom out, and I would look for entries around $55-56.

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