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The company expects $19 billion in sales of its vaccine this year from $18.5 billion previously, and said talks were ongoing for vaccine orders in 2023.
Moderna (NASDAQ:MRNA) has said its vaccine will be priced below value during the pandemic period, and that it will change its pricing strategy as COVID-19 shows signs of subsiding.
The company also said it was working on a new “bivalent” booster vaccine, which combines an Omicron-specific booster and its original COVID-19 vaccine.
With just a single product on the market, Moderna has been banking on the sales of its shot to help sustain its research and development efforts as it looks to build a large portfolio of vaccines and treatments using mRNA technology.
Shares of Moderna, which announced a plan to buy back $3 billion in stock, fell nearly 4% in trading before the bell amid a slump in the broader markets.
Moderna had previously projected sales of $18.5 billion from its vaccine, with an additional $3.5 billion in options. It now expects $3 billion in options.
