Moderna shares plunge on plans to cut $1.1 billion in costs, launch 10 new products by 2027

Published Thu, Sep 12 20246:00 AM EDT Updated Thu, Sep 12 202411:50 AM EDT

ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email

Key Points

Moderna said it plans to cut $1.1 billion in expenses by 2027 as it charts a path forward after the rapid decline of its Covid business.
The biotech company said it expects 10 new product approvals through 2027.
But Moderna is also deprioritizing certain parts of its pipeline, which involves pausing work on some products and scrapping others.

Media Press Entertainment by Media Air Base, LLC