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Moderna's stock fell 37% as COVID sales dropped and RSV vaccine underperformed in 2024.

Analyst Insights
06 Apr 2026
Seeking Alpha
View Source
Bearish
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Moderna's 2024 sales declined sharply, with Spikevax COVID vaccine revenue falling to $3.1 billion and RSV vaccine sales disappointing at $25 million. This led to a 40% year-over-year revenue drop to $1.9 billion in 2025. Despite this, Moderna maintains strong liquidity with $8.1 billion in cash and investments and a low debt-to-equity ratio of 0.151. The company's future remains uncertain and speculative, depending heavily on new drug approvals and commercial success of its pipeline products.

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