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AP National Business

Moderna misses on 3Q, shaves 2022 vaccine expectations

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Published 6:14 AM

By TOM MURPHY
AP Health Writer

Supply problems have again forced Moderna to delay some COVID-19 vaccine deliveries, a move that surprised Wall Street and contributed to a disappointing third quarter. The vaccine developer said Thursday that short-term issues prompted it to shift some deliveries planned for this year into 2023. It now expects 2022 revenue from advance purchase agreements to be as much as $3 billion lower than its forecast from August. CEO Stephane Bancel said the company was dealing with complex manufacturing issue and working on some robust fixes.  The COVID-19 vaccine is Moderna’s main revenue source. Total revenue fell 32% to $3.36 billion.

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