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-Moderna should hit the lower end of its sales target for this year as it only needs to tap a small portion of the private market with its COVID vaccine to reach that goal, according to industry analysts.
The company has said it expects total U.S. COVID vaccine demand to be as much as 100 million doses in the fall season. That forecast was called into question last month, when Pfizer lowered its full-year outlook for sales of its COVID-19 shot by about $2 billion due to lower-than-expected vaccination rates."It is unlikely Moderna will have a negative fall like Pfizer because they started off much more conservative," said Oppenheimer & Co analyst Hartaj Singh.
Moderna reports third-quarter results on Thursday, two days after Pfizer posted its first quarterly loss since 2019 due to a large charge to account for the U.S. government returning millions of doses of its COVID-19 antiviral treatment Paxlovid, as well as inventory of its COVID vaccine Comirnaty.Its research and development costs ballooned 62% to $1.